DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the "LED Lighting in the Oil and Gas Market-Forecast (2020-2025)" report to the products of ResearchAndMarkets.com.
By 2025, LED lighting in the oil and gas market is expected to reach US$188.7 million. Due to the long life and durability of LED lighting in harsh environments, it will grow at a steady rate of 3.4% during the forecast period.
In addition, LED lighting uses less power and provides better visibility, which is the main factor that prompted oil and gas manufacturers to install LED lighting in their factory locations.
LED lighting for oil and gas market outlook
The LED lighting market in the oil and gas sector refers to electric lamps or a group of electric lamps installed in lamps that use light-emitting diodes (LED) to emit light. LEDs are used to install signal equipment or lighting equipment in various dangerous sectors of the oil and gas industry. LED lighting and lamps are more ideal than traditional incandescent and fluorescent lamps.
In contrast, high-quality LED lights have the characteristics of high temperature resistance, heat resistance and flame retardancy, and can withstand explosions in hazardous areas. LED uses at least 75% less energy than incandescent lamps and has a life span of 25 times.
LED lighting for oil and gas market growth
Increasing power demand has led to investment in commissioning new advanced generator sets in existing bases. In addition, more and more safety issues have caused factories to require regular maintenance. These factors will drive the LED lighting market in the oil and gas sector.
LED lighting to meet the challenges of the oil and gas market
Increasing resource autonomy and environmental awareness have prevented many upcoming exploration sites in the world. This has led to the budget allocation of governments in various economies to further restrict the funds allocated to exploration, excavation and mining projects. The analysis is to limit the growth of the LED lighting market in oil and gas.
Scope of LED lighting research in the oil and gas market
The base year of the study is 2020, and it is predicted to be 2025. The study conducted a comprehensive analysis of the competitive landscape, while taking into account the market share of leading companies. It also provides information about unit shipments. These provide key market participants with necessary business intelligence and help them understand the future of LED lighting in the oil and gas market.
The assessment includes forecasts, an overview of the competition structure, the market share of competitors, as well as market trends, market demand, market drivers, market challenges, and product analysis. The market drivers and constraints have been evaluated to understand their impact during the forecast period.
This report further identifies the main growth opportunities, while also detailing the main challenges and possible threats. The areas of focus include the types of LED lighting oil and gas markets and their specific applications in different industries.
Views of major players in LED lighting in the oil and gas market
Hubbel Inc., headquartered in the United States, is a leader in the design, manufacture and sale of electrical and electronic products for residential and commercial applications. This is the major company that accounts for approximately 8% of the total market revenue. As a pioneer in the field of LED lighting for various applications in the oil and gas field, the company has maintained a dominant position. Followed by Dialight and Eaton Corp., with 8% and 7% market share, respectively.
Some other major players mentioned in this report include Eaton, Emerson Electric, ABB Group, General Electric, Dialight Plc, AZZ Inc., Larson Electronics Inc., and Adolf Schuch GmbH.
LED lighting for oil and gas market trends
LED lighting group for oil and gas: IEC and EU standards, NEC
Oil and gas LED lighting area: Zone 0, Zone 1, Zone 2
Oil and gas LED lighting temperature class: T1 (450C or 842F), T2 (300C or 572F), T3 (200C or 392F), T4 (135C or 275F), T5 (100C or 212F), T6 (85C or 185F))
LED oil and gas lighting applications: area lighting, linear lighting, flood lighting, exit and emergency lighting, portable and task lighting, signaling, other
Oil and gas LED lighting field: upstream, midstream, downstream
The oil and gas LED lighting market report also analyzes the major geographic regions of the market and the major countries in these regional markets.
For more information about this report, please visit https://www.researchandmarkets.com/r/axpc78
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900