$7.8 billion specialty lighting market by 2027

CHICAGO, November 24, 2022 /PRNewswire/ — specialty lighting market is forecast to achieve $7.8 billion until 2027 $5.7 billion in 2022; It is expected to grow at a CAGR of 6.6% from 2022 to 2027 according to a new report from MarketsandMarkets™. Entertainment, medical and UV lamps are the most well-known applications of specialty lighting.

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Browse the detailed TOC on Specialty Lighting Market

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Other emerging specialty lighting applications include airport lighting, which has high growth potential. Airport lighting encompasses the lighting systems used at airports to support airport operations, night flights and enhance the airport’s appearance. Airport lights are designed to provide the pilot with visual aids and a navigational approach during travel, takeoff and landing. Due to their focus on expanding airport infrastructure, airports are upgrading their existing lighting systems to reposition themselves as progressive airports with world-class standards. This in turn is expected to bring new business opportunities for specialty lighting manufacturers during the forecast period.

Major players in specialty lighting market include Signify (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (USA), Ushio (Japan), Advanced Specialty Lighting (USA), Herbert Waldman (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US) and Advanced UV (US).

As for the application type, the entertainment application is expected to hold the highest market share of the specialty lighting market during the forecast period

Entertainment lighting is used to illuminate stages, studios and events. It creates the desired dramatic effects required for a show or performance. Entertainment lighting is also used in film shoots and other video recordings. The light sources used for entertainment lighting include LED lamps, xenon lamps, halogen lamps and incandescent lamps. Entertainment lighting includes lamps that maintain audience focus and provide performers with the right intensity, color distribution and direction. Entertainment lighting has various applications including stage, studio and others. Stage lighting leads the entertainment lighting segment followed by studio and others and the trend is expected to stay the same over the forecast period. With the increasing number of music events, the demand for specialty lighting for entertainment is expected to increase in the coming years. Based on region, the entertainment lighting market is segmented into four major regions: North America, Asia Pacific, Europeand Rest of the World (RoW). North America led the entertainment lighting market in 2021 due to the rapidly expanding music industry, growing participation in music festivals and increasing urbanization. The increasing number of music events and the support of various associations such as National Association of Music Merchants & International Music Products Association (NAMM), European Festivals Association, European Music Council etc. are expected to fuel the growth of the European music industry. This should boost the entertainment lighting market Europe. In addition, the changing lifestyles of the masses are driving the growth of shopping malls, multiplexes, theaters and entertainment venues, further fueling the growth of the entertainment and film industries.

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That North America The specialty lighting market is expected to have the highest market share during the forecast period

The specialty lighting market was studied North America, Europe, Asia Pacific, and RoW. the market one North America holds the highest market share in 2021 and is expected to stay the same during the forecast period. North America is known for hosting top music festivals like Lollapalooza, Bonnaroo, Bumbershoot and Electric Zoo Festival etc. Furthermore, growing participation in music festivals and increasing urbanization are expected to propel the entertainment lighting application market in the coming years. In 2021, the total number of hospitals in the United States was 6,093, which is expected to only keep growing during the forecast period. This is expected to further increase the number of surgical procedures and patient examinations. These factors are expected to drive the specialty lighting market North America.

Key Players of Specialty Lighting Market:

mean (Netherlands), OSRAM (Germany), SMART Global Holdings (Cree LED) (USA), Ushio (Japan), Advanced Specialty Lighting (USA), Herbert Waldman (Germany), Getinge AB (Sweden), Brandon Medical (England), Integra Lifesciences (US), American Ultraviolet (US), Steris PLC (UK), Halma (US), Advanced UV (US), Martin Professional (Denmark), Altman Lighting (USA), Guangzhou Yajiang Photoelectric Equipment Co. (China), Chauvet & Sons (USA), Daray Medical (UK), Color Imagination LED Lighting (China), extended stage lights (India), Technomed India (India), Simeon Medical (Germany), Crystal IS (USA) and XYLEM (USA).

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