The Global Bulkhead Lighting Market Growth Accelerated By Rising Demand From Commercial Sector

Bulkhead Lighting Market Growth 
 Bulkhead lighting provides illumination inside aircraft, ships, subways, train carriages and other transportation vehicles. These lights are durable, shock-resistant and withstand vibrations. They offer bright, uniform and glare-free illumination. Growing air passenger traffic and increasing commercial and defense aircraft fleet size are fueling demand for bulkhead lighting.

The global Bulkhead Lighting Market is estimated to be valued at US$ 456.21 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of LED lighting is a key trend driving the bulkhead lighting market growth. LED lights consume less power, have a longer lifespan and offer better illumination compared to conventional halogen and incandescent lights. They help reduce maintenance and energy costs of aircrafts, ships and other vehicles. With evolving consumer preferences towards energy efficient and eco-friendly lighting solutions, bulkhead light manufacturers are increasingly focusing on LED technology. They are designing LED lights that precisely meet strict vibration, impact resistance and dimming specifications required for transportation interiors. This wide acceptance of LED bulkhead lights will propel the market expansion over the forecast period.

Segment Analysis
The global bulkhead lighting market is segmented by application and type. Based on application, the commercial segment dominated with over 35% market share in 2022. Demand from the commercial applications such as offices, shopping malls, hospitals etc. is driving the growth of this segment. Based on type, the LED lighting segment accounted for the largest revenue share of over 60% in 2022. LED lights are energy efficient, durable and provide bright illumination that is fueling the growth of this segment.

Key Takeaways
The global bulkhead lighting market share is expected to witness high growth during the forecast period of 2023 to 2030. The market size is projected to grow from US$ 456.21 Mn in 2023 to over US$ 1 Bn by 2030, expanding at a CAGR of 12%.

Regional analysis: North America accounted for the largest revenue share of over 35% in 2022 and is expected to continue its dominance during the forecast period as well. High demand from the developed commercial infrastructure and rising construction activities are supporting market growth in this region.

Key players: Key players operating in the bulkhead lighting market include Au Optronics Corp., Blue Spark Technologies, Cymbet Corporation, E Ink Holdings Inc., Enfucell Softbattery, Imprint Energy Inc., LG Electronics, and Palo Alto Research Center Incorporated. These players are focusing on new product launches and partnerships to gain higher revenue share in the market.

Get more insights on this topic https://www.newswirestats.com/bulkhead-lighting-market-industry-insights-trendsbulkhead-lighting-market-2023-2030/

 




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