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Bulkhead lighting fixtures have LED bulbs that offer advantages like high luminous efficacy, energy efficiency, low heat emission, and long lifespan. The growing need for efficient lighting solutions in commercial buildings is boosting the adoption of bulkhead lighting systems. The global Bulkhead Lighting Market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing focus of builders and facility managers on energy savings is one of the primary drivers of the bulkhead lighting market. Bulkhead lighting fixtures integrated with LED bulbs consume 80-90% less energy as compared to traditional halogen and incandescent lights. They also reduce cooling costs as a minimal amount of heat is emitted. This has incentivized builders to retrofit their commercial spaces with LED bulkhead lighting systems. Furthermore, LED bulkheads offer superior light distribution and render high quality illumination for work areas, shelves, and display counters. Their ability to efficiently light targeted horizontal surfaces is boosting their adoption in retail stores. Technological advancements have led to the emergence of smart and multifunctional bulkhead lights with dimming options, connectivity, and remote control features. This is expected to further support market growth over the forecast period.
Segment Analysis
Bulkhead lighting can be broadly classified into three segments - LED Bulkhead Lights, CFL Bulkhead Lights and Halogen Bulkhead Lights. Among these, LED Bulkhead Lights dominates the market with over 60% share. LED lights are highly energy efficient and have a long life compared to other alternatives. They also require very less maintenance.
Key Takeaways
The Global Bulkhead Lighting Market Demand is expected to witness high over the forecast period from 2024 to 2031.
Regional analysis: Europe currently dominates the Bulkhead Lighting market with over 30% share, primarily driven by countries like UK, Germany and France. Asia Pacific is expected to be the fastest growing region during the forecast period due to rapid infrastructure growth and investment in lighting retrofitting projects across countries like China and India.
Key players: Key players operating in the Bulkhead Lighting market are Signify Holding, Acuity Brands, Hubbell Incorporated, Cree Lighting, and Kenall Manufacturing. Signify Holding leads the market with over 15% share owing to its extensive product portfolio and global presence. Acuity Brands also has a sizable market share through its residential and commercial lighting offerings.
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