Signal Lamps to Gain Maximum Traction in the for Heavy Equipment Lamps Market

Posted on 2019-03-05 by Mark Hub in Industrial, Retail // 0 Comments

Rockville, USA, 2019-Mar-05 — /EPR Network/ — As per the new report by Fact.MR, the heavy equipment lamps market is anticipated to witness moderate growth. The market is projected to increase to 4.9% CAGR. The global heavy equipment lamps market is also projected to bring in US$ 9,065.3 million revenue towards the end of 2026. Increase in the number of infrastructure projects globally is one of the factors resulting in the increasing use of heavy equipment lamps to ensure efficiency and safety. Below are some of the insights on how the global heavy equipment lamps market will perform in the future.

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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.

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Asia Pacific Excluding Japan (APEJ) is projected to remain the largest region in the global heavy equipment lamps market during the forecast period. Rapid urbanization and development of various infrastructure projects including railroads, highways, etc., are some of the factors contributing to the growth of the market in APEJ. Increasing use of heavy equipment in industrial and residential construction in China and India are also leading towards the growth of the market in the region.

North America is also projected to witness growth in the heavy equipment lamps market. Increasing construction of airports, bridges, roads in the U.S. is resulting in the market growth.

The construction industry is expected to be one of the largest end use industries. By the end of 2026, the construction industry is projected to surpass US$ 3,500 million revenue.

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The report also offers a detailed profile on some of the prominent companies in the global market for heavy equipment lamps, Companies that will play a major role in the market through 2026 are Catepillar, Inc., General Electric Company, OSRAM GmbH, Stanley Electric, Koito Manufacturing Co Ltd.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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