Market Overview:
They are designed to provide general or task illumination within the confined spaces. Bulkhead lights feature a watertight and shockproof design to withstand vibrations and impacts. They are available in various types such as fluorescent, LED, and xenon light sources. Bulkhead lights find major applications in ship interior cabins, commercial aircraft cabins, rail cars, buses, trucks, mining equipment, and others where lighting is required within small enclosed spaces.
Market Dynamics:
The growth of the bulkhead lighting market is driven by factors such as rising maritime trade activities and increasing shipbuilding orders. As per the United Nations Conference on Trade and Development (UNCTAD), the value of global seaborne trade rose by approximately 4.1% to US$ 14.5 trillion in 2021. This growth in maritime activities is creating high demand for bulkhead lights used in ship cabins and internal spaces. Furthermore, growing cruise shipping and ferry industries are also fueling the adoption of bulkhead lighting systems.
According to Cruise Lines International Association (CLIA), the global cruise industry welcomed over 32 million passengers in 2021. However, the outbreak of COVID-19 pandemic negatively impacted cruising in 2020 and 2021. On the other hand, increasing penetration of LED lighting is driving the replacement demand in the bulkhead lighting market. LED bulkhead lights provide higher energy efficiency, longer lifespan, and lower maintenance cost compared to traditional lighting technologies. However, rising prices of raw materials such as aluminum, plastics, and electronics components are posing a challenge to manufacturers.
Segment Analysis
The bulkhead lighting market is segmented based on product type, application, distribution channel, end-use industry and geography. The product type segment is sub segmented into surface mounted, flush mounted, recessed and rail mounted bulkhead lights. Among these, surface mounted bulkhead lights dominates the market and accounts for over 30% market share. This is because surface mounted lights have low cost of installation as it does not require ceiling drilling or electrical work.
PEST Analysis
Political: The adoption of stringent regulations regarding energy efficiency and emission reduction in many countries has boosted demand for LED bulkhead lights.
Economic: Growth in construction and infrastructure activities due to rising urbanization in developing nations has propelled the market expansion.
Social: Increasing consumer awareness about benefits of LED lights such as long lifespan and cost savings has positively impacted the sales.
Technological: Advancements in LED technology resulting in high efficiency and low heat emission along with product customization have aided the market growth.
The global Bulkhead Lighting Market Demand is estimated to be valued at US$ 456.21 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global Bulkhead Lighting market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing infrastructure investment and construction activities globally. Regionally, Asia Pacific dominates the global bulkhead lighting market and is expected to maintain its pole position throughout the forecast period. China holds majority market share in this region, followed by India and Japan.
Key players operating in the bulkhead lighting market are Eaton Corporation, Philips Lighting, Hubbell Incorporated, Zumtobel Group AG, Thorn Lighting, Acuity Brands Lighting, Inc., Wipro Enterprises Private Limited, General Electric Company, Osram Licht AG, Feilo Sylvania, Nordlux A/S, Chalmit Lighting, Crompton Greaves Consumer Electricals Limited, Dialight plc, Glamox AS. These key players are focusing on new product launches and expansion strategies to gain higher market share.
For instance, in 2019, Wipro Lighting launched a wide range of bulkhead lights with IP65/IP66 protection for both indoor and outdoor applications. Similarly, in 2021, Philips Lighting expanded its bulkhead lighting portfolio by launching customized bulkhead lights with dimming and occupancy sensing features for commercial spaces.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
