Impact of COVID - 19 On Cleanroom Lighting Market Size, Share, Analysis Future and Forecast Till 2027
The coronavirus or COVID-19 (formerly 2019-nCoV) broke out in December 2019, which has been imposed as a medical emergency worldwide. More than 183 countries and territories have reported cases of coronavirus to date. This is the latest report, covering the current coronavirus impact on the Cleanroom Lighting Market .
Market Overview
According to a new report published by FastMR titled, “Cleanroom Lighting Market by Product, and End-Use : Global Opportunity Analysis and Industry Forecast, 2016–2027,” the global cleanroom lighting market was estimated at around USD 743 million in 2019 and is expected to grow with the CAGR of 5.5% during forecast period 2020-2027. Growing demand from healthcare sector boosting market.
As the world fights its way through the global pandemic of coronavirus, healthcare sector is projected to observe swift demand. Emergence of pandemic has greatly influenced the market growth for pharmaceutical drugs and medicine. The sales of drugs and medicine has observed significant growth in the first quarter of 2020, mostly due to the panic caused by the revelation of coronavirus. Thus, sturdy growth of healthcare sector is expected to positively influence the market growth for cleanrooms which in-turn shall propel lighting accessories demand over the forecast period.
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Asia Pacific region is considered as a key regional market with presence of multinational pharmaceutical companies and brands. The region is poised to grow sturdily as more pharmaceutical companies make their entry into the regional market. In addition, presence of strong manufacturing sector including semiconductors and solar panel manufacturing companies is expected to further propel the demand for cleanroom technologies including lighting over the forecast period.
Within the cleanroom lighting market, services are considered as an important aspect. These services are classified into post-installation and pre-installations. Pre-installation services comprises of design and implementation as per the point of application and post-installation services include operation and maintenance.
Key vendors of the industry are Eagle Lighting Australia, Kenall Manufacturing, Paramount Industries Inc., LUG Light Factory, Eaton Corporation, Crompton Greaves, Wipro, Signify Holding, Terra Universal Inc., and Solite Europe Ltd. Industry participants are focusing towards development of new products to expand their market presence.
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