Track Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
Light plays a vital part in our day to day life. At the point when sun rises it offers light to the entire world, yet as it sets haziness starts, hence the need for track lighting arises. Track lighting is identified by the fixtures or lights attached on the track device that contains electrical conductors. Electrical wires are concealed inside these tracks. These tracks can be easily mounted on the walls, beams and ceilings. Recently, the track lightings are one of the best adaptable lighting solutions, due to the provision that fixtures can be easily moved and added to the track. Most common examples can be found in the retail areas, displays and the galleries. Track lighting is best suitable for the areas that requires high adjustability and performance. Track lighting are the perfect solutions for the pinpoint light in different locations.
Increasing infrastructure development is the major factors for raising the demand for the track lighting market. The major advantage of using a track lighting is that it can be directed and positioned at the point of need to get whole of the light. In addition to this, the other benefits of track lighting include flexibility to move the lights for the specific needs or any part of the room to be highlighted and easy installations, the demand from customers are boosting the growth of the market. New strategies and beautiful lights are as yet rising in the market. Apart from this the track light looks decorative, attractive and eye catching and provides a decent ambience and many key players in the market provides customized track lighting to the customers. One of the major restraints that restricts the growth of the track lighting market is the high maintenance and service cost. Also turning on or off one of the light is the major concern associated with the track lighting. However, with the feeling of mesmerizing experience, rise in growth and demand of designing and technological advancement are expected to positively support the growth of the global track lighting market during the forecast period from 2018 to 2026. The track lighting market has seen decent growth in the lighting industry in recent years.
Track Lighting market is segmented into type of lights, track system, application and geography. Track Lighting market based on type of lights segmented into LED lights, incandescent lights, fluorescent lights, halogen lights, low voltage lights and others. On the basis of track system, the global track lighting is segmented into single circuit and two circuit. Based on applications the track lighting market is segmented into architectural, hospitality, institutions, residential and retail. Track lighting market is also segmented on the basis of geographic regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. United States has significant market share in track lighting market due to the heavy investments in infrastructure followed by Europe. However, the Asia-Pacific region is expected to emerge as the one of the fastest growing market in coming years due to growing economies such as China and India.
Some of the major players in global track lighting market are Eaton Corporation Plc, Acuity Brands Lighting, Inc., WAC Lighting, Koninklijke Philips N.V., Intense Lighting, Nordic Light, Lighting Services Inc., Zhejiang Howell Illuminating Technology Co., Ltd., Rayconn,Jesco Lighting Group and Illuxtron International among others.
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