Latest report on Specialty Lighting Market Share with growing CAGR of 7.0% by 2027

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The global Specialty Lighting market size is expected to be worth around US$ 8.8 billion by 2027, according to a new report by Vision Research Reports.

The global Specialty Lighting market size was valued at US$ 5.2 billion in 2019 and is anticipated to grow at a CAGR of 7.0% during forecast period 2020 to 2027.

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Growth Factors

The market is driven by the growing use of lighting in entertainment, medical, harbor, and other end-use segments. Reduced cost and improved efficiency of LED lights make them preferable for specialty lighting. Moreover, the use of UV lights for water, air, and surface purification across industries is expected to augment the market over the forecast period.

Increasing adoption of lighting solutions for special purposes and the need for enhanced illumination across medical, entertainment, and other industries are promoting market growth. The UV lamps for the disinfection of surface, air, and water are anticipated to be the key growth driver. Moreover, increasing number of global events, such as music concerts, and the rapidly growing entertainment industry are augmenting the demand for specialty lighting solutions.

Report Highlights

  • The purification application segment is projected to witness the fastest growth over the forecast period owing to high product demand for disinfecting air, water, and surface in chemical labs, path labs, medicine manufacturing plants, hospitals, etc.
  • LED product type segment is estimated to account for the largest market share expanding at the maximum CAGR from 2020 to 2027
  • Demand for LED lights has increased in several applications due to their low cost, long life, and low energy consumption
  • North America is projected to account for the largest market share by 2027 due to high product demand from the entertainment and medical sectors in the region

Key Players

  • Advanced Specialty Lighting
  • Brandon Medical
  • CREE (IDEAL INDUSTRIES, INC.)
  • Getinge AB
  • Herbert Waldmann
  • Integra Lifesciences
  • OSRAM GmbH
  • Signify Holding
  • Steris PLC
  • USHIO

Market Segmentation

Specialty Lighting Light Type Outlook 

    • LED
    • Others

Specialty Lighting Application Outlook 

    • Entertainment
    • Medical
    • Purification
    • Others

Specialty Lighting Medical Type Outlook 

    • Surgical
    • Examination

Specialty Lighting Regional Outlook 

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa (MEA)

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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