Global Lighting Contactor Market Scenario

The lighting contactor market is expected to grow from an estimated USD 737.8 million in 2018 to USD 1,111.0 million by 2023, at a CAGR of 8.53% from 2018 to 2023. This growth can be attributed to the increasing adoption of energy-efficient lighting, growing demand for smart controls in lighting systems, and increasing adoption of IoT in the lighting industry.

Target Audience:

• Government Agencies
• Investment Banks
• Lighting Contactor OEM
• Lighting Control Association
• Lighting Management Association
• Lighting Control System OEM
• Regulatory Authorities

Key Market Players:

Major players operating in the lighting contactor market include Schlumberger (US), Halliburton (US), BHGE (US), Weatherford (Switzerland), and National Oilwell Varco (US).

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Commercial segment is expected to hold the largest share of the lighting contactor market, by end-user, during the forecast period.

Lighting contactors are used widely in commercial setups such as corporate offices, healthcare and retail complexes, hotels, restaurants, and educational institutes. Increasing need for energy efficiency is the major objective for governments, organizations, building owners, and other stakeholders. The governments in different countries are adopting LEDs to increase energy efficiency as it can directly reduce the maintenance and utilization cost. Lighting control systems reduce the energy consumption by optimizing ambient light levels to suit the user’s needs, thereby reducing the overall demand for lighting energy. Lighting control systems require lighting contactors for controlling lights, which require frequent on and off operation. Thus, the increase in the adoption of energy-efficient lighting is likely to boost the lighting contactor market.

Electrically held segment is expected to grow at the fastest rate in the lighting contactor market, by type, during the forecast period.

The electrically held segment is expected to grow at the fastest rate in the lighting contactor market during the forecast period. These contactors require an uninterrupted flow of power for continuous operation. If the power is lost, the contactors isolate the light from the circuit. A constant current flow is required to keep the contactor energized. These contactors are noiseless and consume less amount of control power than other contactors. They are mainly used in smart residential complexes and commercial and industrial segments. Thus, the adoption of electrically held contactors is more than mechanically held contactors.

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Europe: the leading market for lighting contactors

In this report, the lighting contactor market has been analyzed on the basis of 5 regions, namely, Asia Pacific, Europe, North America, South America, and Middle East & Africa. The market in Europe is expected to lead the global lighting contactor market in 2018 and is projected to have the largest market share by 2023. The growing demand for lighting control systems in Europe makes it a potentially growing market for lighting contactor providers. The drive for green city projects has brought into the focus on energy efficiency in most of the EU countries. This has created a market opportunity for the manufacturers of LED and energy-efficient lighting control systems and solutions. Moreover, historical buildings, architectural sites, and hospitality businesses contribute to the increased demand for innovative lighting solutions. Thus, the demand for lighting control systems in commercial, residential, and industrial sectors is increasing which is likely to drive the lighting contactor market.

Objectives of the Study

• To define, describe, and forecast the size of the market in terms of value
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To estimate and forecast the size of the lighting contactor based on end-user, type, application, and region
• To study the individual growth trends of the key players of the lighting contactor market, their future expansions, and contributions to the market
• To track and analyze competitive developments such as expansions & investments, mergers & acquisitions, new product developments, contracts & agreements, and joint ventures & collaborations in the market
• To strategically profile key market players and comprehensively analyze their market ranking and core competencies

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