LED Trunking Market to Reach US$ 8.86 Bn at CAGR of 5.9% in 2027

LED Trunking Market to 2027 - Global Analysis and Forecasts by Type (Narrow Distribution and Wide Distribution) and Application (Commercial, Industrial, Warehouse, and Others)

  • Report Code : TIPTE100000567
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 140
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The global LED Trunking market accounted to US$ 5.33 Bn in 2018 and is expected to grow at a CAGR of 5.9% during the forecast period 2019 – 2027, to account to US$ 8.86 Bn by 2027.

Geographically, the LED trunking market is segmented into North America, APAC, Europe, and RoW regions. Asia Pacific leads the LED Trunking market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. The use of linear fluorescent trunking systems is one of the efficient solutions, providing good financial returns in the future. The florescent trunking systems deliver high ROI when these are used in place of high bay lighting. Owing to the fact of better quality standards and reducing the price of the LEDs, it might be considered as an expensive lighting alternative product to traditional lighting systems.
North America is the second largest market in the LED Trunking market. Apart from Asia Pacific and North America, Europe remains at the third largest geographic segment, as with the support of the government in funding in Asian countries, the LED Trunking market in APAC is progressing. Moreover, Different initiatives are undertaken between the players or research laboratories to fulfill the demand of LED lighting in the commercial applications. For instance, Department of Energy's Oak Ridge National Laboratory developed a technology which improves the life span of light-emitting diode lamps. Such initiatives would help the LED lighting manufacturers to introduce new products in the LED Trunking market.

Lucrative Regional LED Trunking Markets

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Market Insights

Abundant production LEDs due to its attractive characteristics

The adoption of LED lights is multiplying and is successfully transforming the definition along with the scope of lighting technology. The LED bulbs/lamps are highly durable, lowers environmental damage while slashing the costs with a longer lifespan of LEDs. Over time, now the LED lights have a positive impact on multiple industries, large spaces, parking lots, and others. Also, the stringent rules proposed by the government and regulatory bodies of the US, Canada, and the European Union on using less efficient lighting, has paved the growth path of LED light. These factors are expected to influence the growth of LED trunking market..

Broader scope for connected LED lighting and trunking system

In this era of modernization, the use of smart devices and IoT technology has been raising for real-time accessibility, effectiveness, control, and easy managing. The manufacturers of LED trunking present in the market are taking initiatives to integrate their system with IoT. These connected LED trunking systems offers a new level of scalability, which helps in achieving light effects as per the need and also combines different IoT technologies into a single system.  This trend is anticipated to provide prosperous opportunities to the market to grow in the region; thus, positively impacting the LED Trunking market.

Type Insights

The global LED Trunking market by type is segmented into narrow distribution and wide distribution. Wide distribution segment dominates the LED Trunking market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. In the wide distribution, it finds its broader applications in providing illumination to the larger spaces including open retail, open plan offices, and industrial facilities for production.

Application Insights

The LED Trunking market by application is further segmented into commercial, industrial, warehouse, and other. Commercial dominates the LED trunking market and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The interiors of commercial spaces are equipped with lighting systems that are in line with the energy codes and illuminance criteria along with providing adaptability, flexibility, and compatibility with digital control and connectivity. The LED trunking systems provide a sophisticated appearance to the commercial buildings with linear consistence.

Asia Pacific LED Trunking Market by Application

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LED Trunking Market: Strategic Insights

Market Size Value inUS$ 5.33 Billion in 2018
Market Size Value byUS$ 8.86 Billion by 2027
Growth rateCAGR of 5.9% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Some of the market Initiatives were observed to be most adopted strategy in the global LED Trunking market. Few of the recent market initiatives are listed below:

2018:Zumtobel Group opened new plant in Niš, Serbia. The site consists of two production areas: Production Area 1 for components (Tridonic) and Production Area 2 for luminaires with a total investment volume of EUR 30 million on a surface of 40,000 square metres.
2018:LED Linear GmbH unveiled a new tape family LUMINARIS. The LUMINARIS tape is the perfect LED product for applications where cost savings are required without sacrificing light quality.
2017:Zumtobel Group launched new Zumtobel Group Services business unit. Through this brand, the lighting group is offering a wide range of services – not only providing light contracting, design services, and consultation on intelligent lighting controls and emergency lighting systems, but also meeting the growing demand for project management of turnkey lighting solutions from a single source.
2017:Philips Lighting launched new LED trunking system for retail and industrial spaces. This connected-ready system support to create buildings future-proof by delivering high quality LED lighting combined with the liberty to adjust light effects and to scale the system with supplementary Internet of Things technologies.


Global LED Trunking Market – By Type

  • Narrow Distribution
  • Wide Distribution

Global LED Trunking Market - By Application

  • Commercial
  • Industrial
  • Warehouse
  • Others

Global LED Trunking Market - By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • South Korea
    • China
    • India
    • Japan
    • Australia
    • Rest of APAC
  • Rest of the World (RoW)

    • Africa
    • Middle East
    • South & Central America

Global LED Trunking Market - Company Profiles

  • Aesthetics Lighting Solutions Ltd.
  • AGC Lighting Co., Ltd.
  • LED Linear GmbH
  • OSRAM Licht AG
  • Shenzhen FusionBrite Technology Co. Ltd.
  • Shenzhen Hitoplux Optoelectronic Co., Ltd.
  • Signify Holding (Philips Lighting)
  • Zumtobel Group
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Aesthetics Lighting Solutions Ltd.
  2. AGC Lighting Co., Ltd.
  3. Bergstrom Lighting
  4. LED Linear GmbH
  5. OSRAM Licht AG
  6. Shenzhen FusionBrite Technology Co. Ltd.
  7. Shenzhen Hitoplux Optoelectronic Co., Ltd.
  8. Signify Holding (Philips Lighting)
  10. Zumtobel Group AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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