Market Overview:
The global track luminaires market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient lighting solutions, growing awareness about LED lighting, and rising demand for track luminaires in commercial applications. The halogen segment is expected to account for the largest share of the global track luminaires market in 2018, followed by LED and incandescent segments. The LED segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to factors such as increasing demand for energy-efficient lighting solutions and falling prices of LEDs. In terms of application, the commercial segment is expected to account for a larger share of the global track luminaires market than residential applications in 2018.
Product Definition:
A track luminaire is a type of light fixture that is attached to a track, which in turn is mounted to the ceiling or wall. This type of fixture allows for more flexibility when it comes to lighting since it can be moved around to point in different directions. Track luminaires are often used in commercial settings where there may be a need for multiple sources of light that can be directed independently.
Halogen:
Halogen is a chemical element that results from the reaction between halogens and non-halogen elements. It can be produced by the thermal decomposition of fluorine or by hydrolysis of nerve gas.
LED:
LED (light-emitting diode) is a semiconductor that emits light when current is passed through it. It offers higher efficiency and longer life compared to conventional lighting sources such as incandescent, halogen, or fluorescent bulbs. The Track Luminaires market includes LED track lights as well as traditional ones.
Traditional track luminaires are made up of materials such as metal and glass; whereas LED variants are made from plastic.
Application Insights:
The commercial application segment accounted for the largest share of more than 60.0% in 2017. The growing demand for energy-efficient track lighting solutions to improve the aesthetic appeal and operational efficiency of office buildings, retail stores, malls and other public places is expected to drive product demand over the forecast period. Furthermore, a significant increase in investments by governments to develop infrastructure and promote tourism is anticipated to augment market growth over the coming years.
The residential application segment was valued at USD 1,836 million in 2017 owing to increasing adoption due largely to government initiatives promoting home ownership as an investment opportunity along with tax benefits offered on mortgage payments towards property owners are expected drive industry growth over next eight years or so (estimated). Moreover, rising consumer disposable income levels coupled with easy access affordable housing schemes being introduced by various governments across regions including North America & Latin America is further anticipated fuel Track Luminaires market expansion during this forecast period (2030).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing construction activities in countries, such as China and India. Furthermore, growing adoption of track lighting for household and commercial applications will drive the industry growth over the forecast period. Increasing number of shopping malls in Asia Pacific is driving demand for modern architectural lighting solutions, which will further propel industry growth over the next eight years.
The European market was valued at USD X million in 2017 and is projected to witness significant growth during the forecast period on account of rising product demand from residential application segment due to growing consumer awareness regarding energy efficiency coupled with government initiatives pertaining energy savings along with aesthetic appeal associated with light sources used for illumination purposes has resulted in increased penetration of track lighting solutions across various commercial spaces including restaurants, hotels etc.
Growth Factors:
- Increasing demand for energy-efficient lighting solutions
- Rising awareness about the benefits of track luminaires
- Growing popularity of LED technology
- Proliferation of smart buildings and green infrastructure projects
- Emerging applications for track luminaires
Scope Of The Report
Report Attributes
Report Details
Report Title
Track Luminaires Market Research Report
By Type
Halogen, LED, Incandescent
By Application
Residential, Commercial
By Companies
Philips Lighting, Acuity Brands, Hubbell, Eglo, ITAB, Eaton, Endo Lighting, WAC Lighting, Intense Lighting, AFX, Philips Lighting, AIXEN LITE, Jesco Lighting, Satco, LBL Lighting, Rayconn, Kehei Lighting
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Track Luminaires Market Report Segments:
The global Track Luminaires market is segmented on the basis of:
Types
Halogen, LED, Incandescent
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Philips Lighting
- Acuity Brands
- Hubbell
- Eglo
- ITAB
- Eaton
- Endo Lighting
- WAC Lighting
- Intense Lighting
- AFX
- Philips Lighting
- AIXEN LITE
- Jesco Lighting
- Satco
- LBL Lighting
- Rayconn
- Kehei Lighting
Highlights of The Track Luminaires Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Halogen
- LED
- Incandescent
- By Application:
- Residential
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Track Luminaires Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Track luminaires are a type of lighting fixture that is typically used in railroad tracks and other areas where light is needed at night or during inclement weather. They are made up of a series of track-mounted lamps that can be turned on and off as needed, making them an efficient way to provide light while avoiding the need for traditional streetlights.
Some of the major players in the track luminaires market are Philips Lighting, Acuity Brands, Hubbell, Eglo, ITAB, Eaton, Endo Lighting, WAC Lighting, Intense Lighting, AFX, Philips Lighting, AIXEN LITE, Jesco Lighting, Satco, LBL Lighting, Rayconn, Kehei Lighting.
The track luminaires market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Track Luminaires Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Track Luminaires Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Track Luminaires Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Track Luminaires Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Track Luminaires Market Size & Forecast, 2018-2028 4.5.1 Track Luminaires Market Size and Y-o-Y Growth 4.5.2 Track Luminaires Market Absolute $ Opportunity
Chapter 5 Global Track Luminaires Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Track Luminaires Market Size Forecast by Type
5.2.1 Halogen
5.2.2 LED
5.2.3 Incandescent
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Track Luminaires Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Track Luminaires Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Track Luminaires Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Track Luminaires Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Track Luminaires Analysis and Forecast
9.1 Introduction
9.2 North America Track Luminaires Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Track Luminaires Market Size Forecast by Type
9.6.1 Halogen
9.6.2 LED
9.6.3 Incandescent
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Track Luminaires Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Track Luminaires Analysis and Forecast
10.1 Introduction
10.2 Europe Track Luminaires Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Track Luminaires Market Size Forecast by Type
10.6.1 Halogen
10.6.2 LED
10.6.3 Incandescent
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Track Luminaires Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Track Luminaires Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Track Luminaires Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Track Luminaires Market Size Forecast by Type
11.6.1 Halogen
11.6.2 LED
11.6.3 Incandescent
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Track Luminaires Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Track Luminaires Analysis and Forecast
12.1 Introduction
12.2 Latin America Track Luminaires Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Track Luminaires Market Size Forecast by Type
12.6.1 Halogen
12.6.2 LED
12.6.3 Incandescent
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Track Luminaires Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Track Luminaires Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Track Luminaires Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Track Luminaires Market Size Forecast by Type
13.6.1 Halogen
13.6.2 LED
13.6.3 Incandescent
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Track Luminaires Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Track Luminaires Market: Competitive Dashboard
14.2 Global Track Luminaires Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips Lighting
14.3.2 Acuity Brands
14.3.3 Hubbell
14.3.4 Eglo
14.3.5 ITAB
14.3.6 Eaton
14.3.7 Endo Lighting
14.3.8 WAC Lighting
14.3.9 Intense Lighting
14.3.10 AFX
14.3.11 Philips Lighting
14.3.12 AIXEN LITE
14.3.13 Jesco Lighting
14.3.14 Satco
14.3.15 LBL Lighting
14.3.16 Rayconn
14.3.17 Kehei Lighting