Compared with home lighting products, industrial lighting products operate for longer periods, so switching to the energy-efficient LED technology is more cost-effective. Hence, LED high and low bay lighting fixtures have been more attractive for industrial lighting users for replacement purposes.
In addition, LED lighting products have seen additional increases in performance and decreases in pricing. Together with industrial lighting products' high profit margins,these improvements have made industrial applications the most competitive market for LED package and LED lighting companies for the 2015-2016 period.
According to findings from LEDinside, the LED industrial lighting market value to reach $2.366 billion in 2015, and will reach $3.935 billion by 2018.