Global Hazardous Location LED Lighting Market Report and Forecast 2024-2032

Global Hazardous Location LED Lighting Market Outlook

The global hazardous location LED lighting market stood at a value of around USD 536.31 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.7% to reach USD 1139.91 million by 2032.       

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The Oil and Gas Industry to Significantly Drive the Demand for Hazardous Location LED Lighting in the Forecast Period

The oil and gas industry is one of the primary end users of hazardous location LED lighting. Rigs used for offshore drilling require hazardous location LED lighting systems. In various locations such as offshore platforms, processing facilities, and petroleum refineries, these systems are in high demand.

This surge in demand can be attributed to the fact that mixtures of gases in the oil and gas industry can cause life-threatening explosions, and, thus, ensuring safety in such an environment is extremely important. As an unsafe lighting system can be one of the most common sources of ignition, there is a demand for high quality hazardous location LED lighting systems in the oil and gas industry.

North America Secured the Largest Market Share and is Anticipated to Retain its Dominance in the Hazardous Location LED Lighting Industry

Geographically, North America is predicted to dominate the hazardous location LED lighting industry during the forecast period due to the introduction of various reforms, which mandate LED lights manufactures to adhere to industry standards and procedures. The lighting systems in the region are manufactured following the regulations around the use of specific equipment in hazardous standards, such as NEC, IEC, and other regional regulations, which has been a key contributor to the market growth. Moreover, the increased offshore activities and the growing oil and gas industry in the region are expected to further enhance the demand for hazardous location LED lighting.

Hazardous Location LED Lighting: Market Segmentation

Hazardous location lighting is a system or light fixture that can withstand extreme conditions and ensure safety in locations requiring LED lighting. Hazardous locations are defined as locations where combustible or flammable dust, metals, gases, and vapours, among others, are present in high quantities.

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By class, the industry can be segmented into:

• Class I
• Class II
• Class III

Based on device type, the industry can be categorised into:

• Zone 0
• Zone 20
• Zone 1
• Zone 21
• Zone 2
• Zone 22

On the basis of end user industry, the market can be segmented into:

• Oil and Gas 
• Petrochemical 
• Industrial 
• Power Generation 
• Pharmaceutical
• Processing
• Others 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rapid Industrialisation and the Favourable Government Regulations to Bolster the Growth of the Global Hazardous Location LED Lighting Industry

The global market for hazardous location LED lighting has been growing considerably for the last few years. The stringent government regulations around products used in hazardous areas and safe installation of electrical wiring and equipment to prevent accidents and promote safe electrical practices are aiding the industry. Factories dealing with the application of delicate particulate matter, fireworks, and others require maximum safety, which is driving the demand for hazardous location LED lighting. Moreover, the increasing demand for energy-efficient and cost-effective LED lighting solutions is expected to further propel the market growth in the forecast period.

Key Industry Players in the Global Hazardous Location LED Lighting Market

The report gives a detailed analysis of the following key players in the global hazardous location led lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Nemalux Inc.
• CESPEX Lighting Co., Ltd
• Munira lighting
• DCD Technologies Inc.
• Luceco plc
• Warom Technology Incorporated Company
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report