led trunking systems Market

The global LED Trunking market was valued at US$ 5.33 Bn in 2018 and is expected to reach US$ 8.86 Bn by 2027 with a CAGR growth rate of 5.9% in the forecast period from 2019 to 2026.

For the installation of the energy-efficient lighting such as LEDs, an appropriate lighting fixture holds a vital position. These fixtures are termed as LED trunking, which provides tailored LED solution to different end users requirements. The trunking system is capable of offering a flexible and stable platform to ensure proper fixing of the luminaires/lights at even intervals for warehouses and retail stores in aisle lighting applications.
The factors driving the LED Trunking market is embraced with, demand for better & advanced energy efficient and energy saving products, rise in the adoption of LEDs over traditional lighting products are anticipated to have a massive impact on the growth of LED Trunking market in the coming years. Also, the huge capital investment required for the installation of LED trunking and lighting fixtures, is expected to hinder the market growth in the coming years.

With the support received from government bodies of the Americas, Asia, and Europe, utilization of energy efficient and less energy consuming lights are gaining high momentum with the commercial and large spaces. The requirement of stringent product testing methods to uphold the performance of LEDs is needed to provide a high certainty of energy savings. To accomplish the objective of enhancing product performance requirements, use of familiar and recognized international performance testing standards including, Design Lights certification schemes and US Energy Star is helpful.
In the global LED trunking market, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period majorly due to rapid urbanization and industrial development observed in the countries of the region. Further, growth in the infrastructure construction projects and stringent government regulations are the factors strengthening the LED Trunking market. In context to high market share, Asia Pacific is the largest region contributing heavily in the LED Trunking market, followed by North America and Europe.

The LED trunking market globally is segmented by application into commercial, industrial, warehouse, and other. Geographically, the LED trunking market is divided into four regions, including North America, Europe, Asia-Pacific, and Rest of the World.

The overall LED trunking market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the LED Trunking market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the LED trunking industry.