Track Lighting: Introduction
- Track lighting is a method of lighting where light fixtures are connected anywhere on a continuous track device which holds electrical conductors.
- Track lighting is identified by the light fixtures attached on the tracking device that contains electrical conductors and electrical wires concealed inside these tracks.
- Track lighting is segmented based on types of light, track system, application, and region.
- Track lighting is designed for various applications such as architecture, hospitals, institutions, and residential and retail sectors.
Rise in Demand for LED Lights
- In terms of types of light, the LED lights segment is likely to record fastest growth in the global track lighting market throughout the forecast period due to the rise in demand for LED lights for track lighting.
- The LED lights segment is anticipated to dominate the global track lighting market throughout the forecast period due to the unique properties of LED lights. These lights are energy-efficient, produce low heat, are compact, have a huge life span of up to 50,000 hours, provide cool operation, and have the capability to customize the spectral output to emit the specific wavelength.
- Rising infrastructure development is the major factor responsible for the growth of the track lighting market. The major advantage of using track lighting is that it can be directed and positioned at the point where the pointed light is needed.
- High maintenance cost and the high service cost of track lighting are restraining factors of the market. However, the mesmerizing experience, increasing growth and demand for interior designing, and technological advancement creates lucrative opportunities for key players of the track lighting market.
Asia Pacific to Lead the Track Lighting Market
- In terms of region, the global track lighting market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is anticipated to dominate the track lighting market throughout the forecast period due to growing economies such as China, India, Japan, and South Korea.
- Asia Pacific is expected to witness the fastest growth in the track lighting market during the forecast period due to the largest consumer base for track lighting owing to a rising industrial base and consumer electronics industry in developing nations such as China, Japan, South Korea, Taiwan, and India in the region.
- The track lighting market in North America is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Europe, Middle East & Africa, and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Track Lighting Market
The global track lighting market was highly fragmented in 2020. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for track lighting. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.
Key players operating in the global track lighting market include:
- Eaton Corporation Plc.
- Acuity Brands Lighting, Inc.
- WAC Lighting
- Koninklijke Philips N.V.
- Intense Lighting
- Nordic Light
- Lighting Services Inc.
- Zhejiang Howell Illuminating Technology Co., Ltd.
- Jesco Lighting Group
- Illuxtron International
Global Track Lighting Market: Research Scope
Global Track Lighting Market, by Type of Lights
- LED Lights
- Incandescent Lights
- Fluorescent Lights
- Halogen Lights
- Low Voltage Lights
Global Track Lighting Market, by Track System
- Single Circuit
- Two Circuit
Global Track Lighting Market, by Application
Global Track Lighting Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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