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Underground Lighting Trends and Forecast
The future of the global underground lighting market looks promising with opportunities in the oil and gas, power generation, and mining markets. The global underground lighting market is expected to grow with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are significantly growing mining industry and substantial expansion of tunnel automation sector in the developing countries.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Underground Lighting by Segment
The study includes a forecast for the global underground lighting by type, end use, and region.
Underground Lighting Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• LED
• Tungsten Filament
• Incandescent Lamps
• Xenon and Mercury Vapour Lights
• Metal Halide
• Fluorescent Lights
• High and Low-Pressure Sodium
Underground Lighting Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Oil and Gas
• Power Generation
• Mining
• Others
Underground Lighting Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Underground Lighting Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies underground lighting companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the underground lighting companies profiLED in this report include-
• Minearc Systems
• Elign Equipment
• Wye Valley Associates
• Atlas Copco
• Xerebrus
• Voltex Lighting
• Hudaco Industries
Underground Lighting Market Insights
Lucintel forecasts that LED will remain the largest segment over the forecast period due to increasing need for cost-effective, easy-to-install, and low-maintenance lighting solutions.
Within this market, mining will remain the largest segment due to rising demand for efficient lighting solution to ensure the safety of mine workers.
APAC is expected to witness highest growth over the forecast period due to robust growth in industrial and infrastructure development.
Features of the Global Underground Lighting Market
Market Size Estimates: Underground lighting market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Underground lighting market size by type, end use, and region in terms of value ($B).
Regional Analysis: Underground lighting market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, end uses, and regions for the underground lighting market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the underground lighting market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for underground lighting market?
Answer: The global underground lighting market is expected to grow with a CAGR of 5.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the underground lighting market?
Answer: The major drivers for this market are significantly growing mining industry and substantial expansion of tunnel automation sector in the developing countries.
Q3. What are the major segments for underground lighting market?
Answer: The future of the underground lighting market looks promising with opportunities in the oil and gas, power generation, and mining markets.
Q4. Who are the key underground lighting market companies?
Answer: Some of the key underground lighting companies are as follows:
• Minearc Systems
• Elign Equipment
• Wye Valley Associates
• Atlas Copco
• Xerebrus
• Voltex Lighting
• Hudaco Industries
Q5. Which underground lighting market segment will be the largest in future?
Answer: Lucintel forecasts that LED will remain the largest segment over the forecast period due to increasing need for cost-effective, easy-to-install, and low-maintenance lighting solutions.
Q6. In underground lighting market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to robust growth in industrial and infrastructure development.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the underground lighting market by type (LED, tungsten filament, incandescent lamps, xenon and mercury vapour lights, metal halide, fluorescent lights , and high and low-pressure sodium), end use (oil and gas, power generation, mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Underground Lighting Market, Underground Lighting Market Size, Underground Lighting Market Growth, Underground Lighting Market Analysis, Underground Lighting Market Report, Underground Lighting Market Share, Underground Lighting Market Trends, Underground Lighting Market Forecast, Underground Lighting Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Underground Lighting Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Underground Lighting Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Underground Lighting Market by Type
3.3.1: LED
3.3.2: Tungsten Filament
3.3.3: Incandescent Lamps
3.3.4: Xenon and Mercury Vapour Lights
3.3.5: Metal Halide
3.3.6: Fluorescent Lights
3.3.7: High and Low-Pressure Sodium
3.4: Global Underground Lighting Market by End Use
3.4.1: Oil and Gas
3.4.2: Power Generation
3.4.3: Mining
3.4.4: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Underground Lighting Market by Region
4.2: North American Underground Lighting Market
4.2.2: North American Underground Lighting Market by End Use: Oil and Gas, Power Generation, Mining, and Others
4.3: European Underground Lighting Market
4.3.1: European Underground Lighting Market by Type: LED, Tungsten Filament, Incandescent Lamps, Xenon and Mercury Vapour Lights, Metal Halide, Fluorescent Lights, and High and Low-Pressure Sodium
4.3.2: European Underground Lighting Market by End Use: Oil and Gas, Power Generation, Mining, and Others
4.4: APAC Underground Lighting Market
4.4.1: APAC Underground Lighting Market by Type: LED, Tungsten Filament, Incandescent Lamps, Xenon and Mercury Vapour Lights, Metal Halide, Fluorescent Lights, and High and Low-Pressure Sodium
4.4.2: APAC Underground Lighting Market by End Use: Oil and Gas, Power Generation, Mining, and Others
4.5: ROW Underground Lighting Market
4.5.1: ROW Underground Lighting Market by Type: LED, Tungsten Filament, Incandescent Lamps, Xenon and Mercury Vapour Lights, Metal Halide, Fluorescent Lights, and High and Low-Pressure Sodium
4.5.2: ROW Underground Lighting Market by End Use: Oil and Gas, Power Generation, Mining, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Underground Lighting Market by Type
6.1.2: Growth Opportunities for the Global Underground Lighting Market by End Use
6.1.3: Growth Opportunities for the Global Underground Lighting Market by Region
6.2: Emerging Trends in the Global Underground Lighting Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Underground Lighting Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Underground Lighting Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: MineARC Systems
7.2: Elign Equipment
7.3: Wye Valley Associates
7.4: Atlas Copco
7.5: Xerebrus
7.6: Voltex Lighting
7.7: Hudaco Industries
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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