Global Specialty Lighting Market Insights Forecasts to 2030

• The Specialty Lighting Market Size was valued at USD 6.59 Billion in 2021.
• The Market is growing at a CAGR of 7.0% from 2022 to 2030
• The Worldwide Specialty Lighting Market is expected to reach USD 11.79 Billion by 2030
• Asia Pacific is expected to Grow the fastest during the forecast period

The Global Specialty Lighting Market is expected to reach USD 11.79 billion by 2030, at a CAGR of 7.0% during the forecast period 2022 to 2030. The key factors driving the market expansion include the rise in live music events and concerts, strict government requirements for air, water, and surface disinfection, increased acceptance of surgical lighting for minor and large surgical procedures, and the decreasing cost and expanding use of LEDs.

The term "specialty lighting" refers to LED lighting equipment that operates beyond the standard categories. Specialty lighting is defined as lighting having a specialized form, foundation, and architecture, as well as special built-in parts to perform lighting tasks. Rather than engine room or courtesy decor, the specialty LED lights fulfill an intended role. They include tape lights, micro lighting fixtures, LED panels, RGB controllers, and other devices. Specialty lighting is used in situations where standard lighting is ineffective due to its size and usefulness. Specialty lighting is intended for highly specific objectives that can cover a wide range of applications. Specialty lighting is used in a variety of areas, including healthcare, retail, commercial, and entertainment.

New tech innovations such as Internet of Things (IoT) and smart lighting solutions are also predicted to boost to the specialty lightning market expansion. In addition, rapid growth from television series production companies, opera sets, and the film sector is driving market expansion. However, stringent lighting industry rules such as the Energy Star Program, the United Nations Environment Programme (UNEP), and the National Electric Code (NEC) offer an obstacle to market expansion.

COVID-19 Impact Specialty Lighting Market

The COVID-19 pandemic has had a tremendous impact on the growth of the speciality lighting market. Residential, commercial, and industrial infrastructural development, restoration, and maintenance have all come to a standstill as a consequence of the lockdown, resulting in a dramatic decrease in customer demand for specialty lighting industry. E-commerce is considered to be among the most vital platforms for the distribution of specialty lighting. The interruption of supply and logistics caused by the shutdown has led to an enormous decrease in demand. Despite these challenges, demand for medical lighting is likely to increase with the rising number of temporary hospitals and the increasing supply for surgical and diagnostic amenities. However, many nations world-wide are continually increasing hospital beds, which must be addressed by building new isolation and treatment units as well as purchasing more medical equipment and lighting.

Market Dynamics

Key Market Drivers

Significant increase in demand for specialized lighting owing to LED lighting adoption

Conventional lighting is enclosed in glasses, which makes it vulnerable to damage, while the LED lighting is not prone to breaking and is not impacted by motions. LED lights are generally mounted on a circuit board and connected with soldering as a result, LED lights last longer than conventional lights. The LED lightning offers better visibility by emitting brighter, higher-quality light. The overall quality improves as a result of the greater visibility provided by LED lighting. The current generation of LED lighting is more adaptable due to its spectrum-tuning features, facilitating modifications in lighting type and intensity for various circumstances. As a result of the rising penetration of LED lighting, the specialty lighting market is rapidly growing.

Key Market Challenges

High installation costs and a lack of understanding of performance and costs

The higher installation costs of such lighting solutions are limiting their widespread adoption. The vast number of end users contends that the expense of installing speciality lighting is excessive due to the high purchase cost and the additional cost of incorporating and installing them. However, the cost of integration is mostly determined by the complexity of the integration for a certain application. Lighting control systems can lower the cost of customized lighting in half while improving lighting efficiency and reducing environmental damage.

Market Segmentation

Light Source Type Insights

The LED segment accounted the largest market share of more than 70% over the forecast period.

On the basis of light source type, the global specialty lighting market is segmented into LED, halogen lamps, xenon bulbs, incandescent lamps, metal halide lamps, and other light source. Among these, the LED segment is dominating the market with more than 70% and is expected to continue its dominance over the forecast period. LED lights have dominated every lighting category, spanning smart, aesthetic, specialty, and ambient lighting. The adoption of LED lights over previous light sources has spurred product demand due to their longer lifespan, reduced overheating, and cost-saving qualities. They are more adaptable and practical for diverse illumination designs that provide a variety of patterns and colors. Because of its advantages in producing lightweight fixtures, LED is becoming more popular in speciality lighting. Also, LEDs consume less electricity than traditional lights.

Application Type Insights

The medical segment accounted the largest revenue share of more than 58% over the forecast period.

On the basis of application, the global specialty lighting market is segmented into entertainment, medical, UV lamps, commercial, institutional, retail, residential, and other applications. Among these, the medical segment accounted for the largest revenue share of over 58% over the forecast period. In the medical applications, specialty lighting is essential for enabling improved vision during medical treatments. The utilization of advanced surgical equipment to reduce fatalities during procedures has increased the demand for surgical illumination. Also, the introduction of LED lights has increased the dependability of operational illumination.

The entertainment segment is expected to grow the fastest during the forecast period because this sector is completely reliant on various manifestations of photography and videography lighting, such as fill lighting, backlighting, practical light, hard & soft lighting, bounce lighting, and luminance, to create the intended outcomes. Furthermore, the entertainment industry organizes frequent award presentations and gatherings that require specialty lighting, which increases development exponentially.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 45% market share over the forecast period owing to the establishment of major lighting firms supplying solutions for horticulture, entertainment, water treatment, healthcare, shipping ports, and aquaculture. Furthermore, the region's rapidly increasing end-use industries, such as entertainment, are fueling product demand. Additionally, an efficient healthcare infrastructure in both the US and Canada leads to the growing market for surgical and examination lighting.

Asia Pacific is expected to grow the fastest during the forecast period as a result of the increased adoption of innovative specialty lighting across several industries. Given the consistent demand, the entertainment industry in India constitutes one of the most dominating and highly preferred industries by the market. The healthcare industries of China and Japan are also supporting the acceleration of regional market expansion. Furthermore, widespread adoption at the waterfront to lighten up space as well as improve reliability and efficiency when functioning at night is also expected to boost the specialty market growth.

List of Key Market Players

• Advanced UV Light GmbH
• Simeon Medical
• Altman Lighting
• Advanced Specialty Lighting
• SMART Global Holdings
• Guangzhou Yajiang Photoelectric Equipment Co.
• Technomed India
• Crystal IS
• Signify
• XYLEM
• OSRAM
• Getinge AB
• American Ultraviolet
• Daray Medical
• Steris PLC
• Color Imagination LED Lighting
• Integra Lifesciences
• Ushio
• Herbert Waldmann

Key Market Developments

• On February 2023, Cree LED, Inc., an SGH company, today announces the availability of three surface mount diode (SMD) LEDs optimized for large-format, high-resolution video screen applications. These new LEDs provide enhanced performance for all types of large-format displays requiring superior image quality and reliability. These SMDs are ideal for stadium signs, airport displays, command center displays and full-color roadway signs.

• On May 2022, Signify, the world leader in lighting, has completed the acquisition of Fluence from ams OSRAM. This acquisition is expected to strengthen global Agriculture lighting growth platform and extends the position in the attractive North American horticultural lighting market.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global specialty lighting market based on the below-mentioned segments:

Specialty Lighting Market, Light Source Type Analysis

• LED
• Halogen Lamps
• Xenon Bulbs
• Incandescent Lamps
• Metal Halide Lamps
• Other Light Source

Specialty Lighting Market, Application Type Analysis

• Entertainment
• Medical
• UV Lamps
• Commercial
• Institutional
• Retail
• Residential
• Other Applications

Specialty Lighting Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa