Global Track Lighting Market – Industry Analysis and Forecast (2019-2027)

Published by

Jul 23, 2021


Global track lighting market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7.7% during the forecast period.

Global Track Lighting Market

 

Global Track Lighting Market

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Global track lighting market Definition

A track lighting is a lighting system where light lamps or light fixtures’ are placed in a series form that means one after another, on a plexiglass or metal structure track device that contains electric conductors and this track is usually mounted on a ceiling or walls.
Global track lighting market Dynamics

A continuously growing popularity of modern track lighting systems from the 80s era to date to illuminate places in modern studios and homes is a major driving factor behind the growth of the market. An improved lifestyle of people across the globe, the growing popularity of track lighting in businesses, homes and rental properties, rising remodelling of living, bed and kitchen rooms and trends of illuminating a museum sculpture, massive availability of various styles of track lighting and rising infrastructure developments are expected to improve the growth of the market during the forecast period. The Track lighting system provides some benefits such as easy installation, versatility in lighting solutions, energy savings, and high customization, which are ultimately propelling the growth of the market.

However, high initial costs of light fixtures and advanced flexible tracks are the major restraining factors that could hamper the growth of the market during the forecast period.
Global Track Lighting Market: Segmentation Analysis

By type, the LED light segment dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during the forecast period. The growing market for LED industry from the past few years and the rising shifts towards LED light solutions over other light sources owing to its major benefits such as low power consumption, low cost, and long life span is attributed to the growth of the market.

LED light use 80% less energy than other light sources. In addition, LED lights provides various benefits such as improved safety, sturdiness, dimming capability, great Colour Rendering Index (CRI), operating capabilities in both hot and cold temperature, negligible UV emissions and tremendous design flexibility, which are further making them a more ideal alternative for the track lighting system. Increasing the governments LED programs in countries such as the US, India, and the UK to adopt LED lighting solutions by replacing other light sources is expected to improve the growth of the market during the forecast period.

By track head, the step head segment is dominating the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Track light with a step head is the most common and most widely used type of track head in the market today. This style of light fixture is prominent in track lighting market because of its clean and simple design and it can work well with every track type. Step head track lighting is widely used in commercial applications such as in shopping malls or grocery shops.
Global Track Lighting Market: Regional Analysis

Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the widespread adoption of LED lighting in the US with the purpose to save energy.

Growing technological advancements in the LED track lighting system, rising demand of the LED based track lights in shopping malls, vast presence of global market players and rising adoption of lighting solutions which are integrated with smart appliances are impelling the growth of the market.

The objective of the report is to present a comprehensive analysis of the Global Track Lighting Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Track Lighting Market dynamics, structure by analyzing the market segments and projects the Global Track Lighting Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Track Lighting Market make the report investor’s guide.
The Scope of Global Track Lighting Market: Inquire before buying

Global Track Lighting Market, By Type

• LED lights
• Incandescent lights
• Fluorescent lights
• Halogen lights
• Low voltage lights
• Others
Global Track Lighting Market, By Track Head

• Step Head
• Round Back Head
• Pinhole Head
• Gimbal Head
Global Track Lighting Market, By Track System

• Single circuit
• Double circuit
Global Track Lighting Market, By Application

• Architectural
• Hospitality
• Institutions
• Residential
• Commercial
Global Track Lighting Market, By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Global Track Lighting Market, Key Players

Global Players
• Eaton Corporation
• Acuity Brands Lighting, Inc
• WAC Lighting
• Koninklijke Philips N.V
• Intense Lighting
• Lighting Services Inc
• Zhejiang Howell Illuminating Technology Co., Ltd
• Rayconn
• Jesco Lighting Group
• Philips Lighting
• Eglo
• Hubbell
• AFX INC
• ITAB
• LBL Lighting
• AIXEN LITE
• Cree Inc
• XX
• XX
North America
• Jesco Lighting
• Satco
• Nora Lighting
• XX
• XX
Europe
• Illuxtron International
• Nordic Light
• XX
• XX
Asia Pacific
• Shenzhen kehei lighting technology co.ltd
• Endo Lighting
• XX
• XX
South America & MEA
• Regent Lighting Solutions
• XX
XX

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