Asia-Pacific Hazardous Lighting Market from 2021 to 2026
Driven by the demand for industrial products, global investment and technological advancement, the development of industry and infrastructure in the Asia-Pacific region has achieved significant growth. This growth has triggered a demand for energy-efficient lighting technology across hazardous areas.
According to the National Bureau of Statistics, the total amount of oil processed in 2019 reached 658.9 million tons, which is approximately 13.04 million barrels per day (barrels per day). The growth of the oil industry is mainly due to the launch of two new refineries by China National Petroleum Corporation (CNPC). The company also plans to open six new refineries in 2020. Therefore, the demand for dangerous goods is high. As China's demand for the LED market continues to grow, the country's lighting, especially LED lighting, becomes possible.
In 2020, the market value of hazardous lighting in the Asia-Pacific region is US$737.6 million. It is expected that during the forecast period from 2021 to 2026, the market will grow to US$950.6 million at a compound annual growth rate of 5.14% by 2026.
Growing demand for cost-effective LED lighting solutions
- In hazardous areas, LED have lower power and energy consumption compared to older lighting technologies. LED help reduce utility costs, which is important for any location, especially for large locations where many lamps are installed.
-Under lower voltage, LED lighting provides higher lumen output, which can avoid accidents and reduce heat consumption, because 80% of the LED energy is consumed to produce lighting, and the durability is the service life of LED and other options Four times, and has better specification versatility.
-According to the United Nations report, Asia is the region with the largest increase in power saving and avoiding carbon dioxide emissions. In the framework of the Enlightenment Program, UNEP estimates that in the absence of new policies, 57% of lighting energy demand will come from Asia. Therefore, the development of Asia is crucial to the growth of the LED market.