Global Heavy Equipment Lamps Market Assessment and Revenue Gains of Key Players Forecasted during 2017-2026

Posted on 2018-07-06 by Mark Hub in Industrial, Retail // 0 Comments

ROCKVILLE, US, 2018-Jul-06 — /EPR Network/ — With the increasing number of construction and mining projects, demand for the heavy equipment lamps will continue to increase. As the need to perform night-time construction operations arise, constructors prefer opting for heavy equipment lamps incorporated with LED technology. Banking on the growing requirements of the end-use industries, leading manufacturers are focusing on incorporating innovative features that enable these lamps to withstand harsh climatic conditions.

As the heavy equipment lamps are incorporated with the LED technology, they can conveniently sustain high vibration temperature. These lamps have no filaments to break and can function for a prolonged period. In order to expand their customer base, major companies are focusing on developing lamps that are central to the requirements of the customers. To remain on the forefront of the global market, leading firms are focusing on product innovation and differentiation.

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The demand for powerful lamps along with the electrical system for heavy equipment. Various lamps and blubs are prone to breakage and damage due to impacts and vibrations. Hence, manufacturers are researching on developing lamps that can be installed on heavy equipment and are able to withstand various conditions. Heavy equipment lamps are being developed to provide powerful illumination, without draining on equipment’s electrical system. LED technology is adding value to the heavy equipment as the light produced by LED lamps produce less glare and are cleaner and also offer nearly 40% in fuel saving. With the ability to cut down the cost of energy, LEDs includes various eco-friendly benefits. LEDs are also popular among heavy equipment owing to their relatively simple installation. Increasing number of companies are using LED lamps for heavy equipment to perform safely, especially during night-time operations. Moreover, LED can also operate in a wide variety of voltages which makes it suitable for heavy equipment. Moreover, instead of permanent lighting fixtures, portable LED towers are being used as it can be easily installed.

Global Heavy Equipment Lamps Market to Bring in More Than US$ 9,000 Mn By 2026-End

Fact.MR states that the global heavy equipment lamps market is projected to record a value of over US$ 9,000 Mn by 2026-end. As the need to construct commercial and residential complexes persist, demand for heavy equipment lamps continue to remain high. In addition, increasing number of mining projects has led to a surge in demand for the heavy equipment lamps globally. Constructors are required to complete the construction projects within a deadline. Due to this, constructors need to work during the night time and even in harsh weather conditions. With the growing need to meet the construction deadlines, demand for heavy equipment lamps will continue to remain pervasive. Leading manufacturers are focusing on developing heavy equipment lamps that can withstand harsh weather conditions.

Besides construction industry, adoption of the heavy equipment lamps will continue to remain high in the mining industry. Growing need to extract valuable minerals from earth has led the miners to work during the night hours. This has led to a surge in demand for heavy equipment lamps in the mining industry. In order to offer enhanced customer experience, leading manufacturers are focusing on integrating innovative features that enable the lamps to withstand extreme temperature conditions. Through product innovation, leading manufacturers are focusing on attaining a competitive edge in the global market.

Sales of the heavy equipment lamps will continue to remain high in the construction industry for various equipment. In terms of revenue, construction equipment is expected to record a significant revenue growth in the global market by the end of 2026.

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HID Lamps to Account for the Highest Revenue Share

Among various lighting types, HID lamps are likely to account for more than one-third of the revenue share by 2017 end. HID lamps are also estimated to create an incremental opportunity of over US$ 1,300 million between 2017 and 2026. Owing to the low energy usage, longer life than halogen bulbs, HID lamps are being used on a large scale. HID lamps are being used in large indoor and outdoor areas such as warehouses, construction sites, shops, arenas, etc. Meanwhile, LEDs are also likely to witness growth in the near future.

Construction Equipment to Emerge as the Largest End User of Heavy Equipment Lamps

Construction equipment is likely to emerge as one of the largest end use industries in the global market for heavy equipment lamps throughout the forecast period. By 2026 end, construction equipment is estimated to exceed US$ 3,500 million in terms of value. New infrastructure projects across various countries are driving the use of construction equipment. Various construction equipment are being used on the basis of the type of construction. Light towers are being used on a large scale as they are easily transportable and can be setup seamlessly.

Competition Tracking

The report provides details on various key companies that are likely to contribute towards the expansion of global heavy equipment lamps market through 2026, which include Koito Manufacturing Co Ltd., Stanley Electric, OSRAM GmbH, General Electric Company, and Catepillar, Inc.

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