New York, March 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Lighting Equipment Global Market Report 2022" - https://www.reportlinker.com/p06247436/?utm_source=GNW
The global electric lighting equipment market is expected to grow from $104.18 billion in 2021 to $115.16 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $164.37 billion in 2026 at a CAGR of 9.3%.
The electrical lighting equipment market consists of sales of electrical lighting equipment by entities (organizations, sole traders and partnerships) that produce electric light bulbs and tubes, and parts and components (except glass blanks for electric light bulbs) or electric lighting fixtures (except vehicular), nonelectric lighting equipment, lamp shades (except glass and plastics), and lighting fixture components (except current-carrying wiring devices).
The main types of electrical lighting equipment are general lighting, automotive lighting and back lighting.Automotive lighting consists of lighting and signaling devices mounted on the front, rear, sides, and, in some cases, the top of the vehicle, and it illuminates the roadway for the driver.
The lighting system also improves visibility, especially in low-light conditions.It alerts other drivers and pedestrians to the presence and direction of a vehicle.
The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used for residential, commercial, automotive and other applications.
Asia Pacific was the largest region in the electric lighting equipment market in 2021.North America was the second largest region in the electric lighting equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major lighting companies are integrating lighting fixtures with IoT technology to enable remote user control and for controlling lighting in office, work environment and city infrastructure.IoT technology is widely being used in homes and work places to integrate and control internal and external light fixtures.
Beacons, which are small Bluetooth radio transmitters that give signals to other devices, are used to enable wireless lighting control and broadcast the location of fixtures. For instance, in July 2021, Nokia Smart Lighting, a suite of IoT-powered lighting and electrical control products, has been announced by Smartlabs, a pioneer in smart lighting and electrical control.
The countries covered in the electric lighting equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06247436/?utm_source=GNW
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