Cleanroom Lighting Market Worth $978 Million by 2024 - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, May 24, 2019 /PRNewswire/ -- According to the new market research report "Cleanroom Lighting Market by Light Source (LED and Fluorescent), Offering (Hardware, Software, and Services), End User (Healthcare & Life Sciences, Industrial Manufacturing, Food & Beverages), Mounting Type, and Geography - Global Forecast to 2024", published by MarketsandMarkets(TM), the Cleanroom Lighting Market is projected to reach USD 978 million by 2024 from USD 742 million in 2019, at the highest CAGR of 5.7%. Major drivers for the market's growth are a rise in the need for a controlled environment with extremely low levels of pollutants in manufacturing industries, and to prevent contamination of products due to the stringent regulations in healthcare & food processing industries.
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Services offering for cleanroom lighting to grow at higher CAGR during the forecast period
Services play a crucial role before and after the installation of lighting systems. The cleanroom lighting services have been broadly classified into pre-installation and post-installation services. The market for services is growing at a high rate owing to the rising demand for the installation of lighting systems for various applications. The pre-installation services pertaining to cleanroom lighting include the design and installation of lighting fixtures. An effective pre-installation refers to setting up a lighting system with minimum energy requirements, and it has proven to be a cost-effective solution. The designing phase of the lighting system involves the analysis of the application area and surrounding for which the system is to be used. Post-installation services pertaining to cleanroom lighting include maintenance, support, and analytics services.
Healthcare and life sciences to hold the largest size of the cleanroom lighting market during the forecast period
The major cleanroom lighting applications in this industry include hospitals, R&D, pharmaceutical and medical device manufacturers, biotechnology players, and R&D labs. Biologics manufacturing facilities; and areas such as laboratories, production areas, bio-exclusion areas, and animal supply facilities need to have a contamination-free and controlled environment for ensuring product and patient safety. This factor increases the number of cleanrooms in these industries, which fuels the growth of the cleanroom lighting market.
Asia Pacific is major contributor for cleanroom lighting and is expected to grow at highest CAGR during the next five years
Many biopharmaceutical companies and medical device manufacturers are expanding their presence in APAC owing to cost advantage and a favorable regulatory environment in this region. High-growth regions such as China, Japan, South Korea, India, Taiwan, Australia, and Singapore are expected to be significant contributors to the cleanroom lighting market in APAC. China dominates the semiconductor manufacturing industry, and this growth is attributed to the country's rising wafer fab equipment spending from the past few years. Further, according to the China Semiconductor Industry Association, the integrated circuit (IC) industry in China grew by 25% in 2017, over the industry position in the previous year. These factors have led to an increase in the number of cleanrooms to manufacture the substrates in a pure environment, thereby fueling the cleanroom lighting market in the region.
Browse in-depth TOC on "Cleanroom Lighting Market"
69 - Tables
32 - Figures
117 - Pages
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Crompton Greaves Ltd. (Crompton, India), Signify Holding. (Signify, Netherlands), LUG Light Factory Sp. z o.o. (LUG Light Factory, Poland), Eaton Corporation plc (Eaton, Ireland), Wipro Enterprises (P) Ltd. (Wipro, India), Terra Universal. Inc. (Terra Universal, US), Paramount Industries, Inc. (Paramount, US), Solite Europe Ltd (Solite Europe, UK), Eagle Lighting Australia (Eagle Lighting, Australia), and Kenall Manufacturing (Kenall Manufacturing, US) are a few major players in the cleanroom lighting market
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