Bulkhead Lighting is Fastest Growing Segment Fueling the Growth of Bulkhead Lighting Market

 
Bulkhead Lighting Market 

Market Overview:
Bulkhead lighting provides illumination in stairs, bulkheads, and other areas where surface-mounted lights cannot reach. It allows indirect and decorative lighting in areas that need it the most such as stairs, ledges, and architectural features.

Market key trends:
One of the key trends in the bulkhead lighting market is the emergence of LED bulkhead lights. LEDs have many advantages over traditional bulbs such as lower energy consumption, longer lifespan, and smaller size. Manufacturers are increasingly offering LED bulkhead lights due to growing demand for energy-efficient lighting solutions. Some other trends include introduction of sensor-based and Wi-Fi enabled smart bulkhead lights, increasing usage of bulkhead lights in commercial buildings, and growing adoption of bulkhead lights designed specifically for outdoor applications.
Segment Analysis
The global bulkhead lighting market is dominated by the LED segment due to its low power consumption, long lifespan and environmental sustainability. The LED segment currently holds around 60% of the total market share owing to widespread adoption of LED lighting across various commercial and residential applications. With declining LED prices and technological advancements, the LED segment is expected to continue dominating the bulkhead lighting market during the forecast period.

The global Bulkhead Lighting Market Demand is estimated to be valued at US$ 456.21 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways
The global bulkhead lighting market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand for energy efficient lighting solutions in residential, commercial and industrial sectors.

Regional analysis
North America currently dominates the bulkhead lighting market, accounting for around 35% of the global market share. The growth in this region is driven by high adoption of advanced lighting technologies and presence of major players. Asia Pacific is projected to be the fastest growing region owing to industrialization and urbanization in countries such as China and India.

Key players
Key players operating in the bulkhead lighting market are Eaton Corporation, Philips Lighting, Hubbell Incorporated, Zumtobel Group AG, Thorn Lighting, Acuity Brands Lighting, Inc., Wipro Enterprises Private Limited, General Electric Company, Osram Licht AG, Feilo Sylvania, Nordlux A/S, Chalmit Lighting, Crompton Greaves Consumer Electricals Limited, Dialight plc, Glamox AS. The global bulkhead lighting market is highly fragmented with these key players accounting for around 45% of the total market share.

For more insights, read-

https://www.marketwebjournal.com/bulkhead-lighting-market-growth-market-size-share-analysis/

 

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