Global $188.7 Million LED Lighting in Oil & Gas Market to 2025

The LED Lighting for Oil and Gas market is expected to reach $188.7m by 2025, growing at a steady rate of 3.4% during the forecast period owing to the long lifespan and durability of LED lighting in harsh environments.

Moreover, LED lighting uses less power and provides better visibility, the primary factors which is driving oil and gas manufacturers to install LED lighting in their plant locations.

The LED Lighting Market in Oil and Gas refers to an electric light or a cluster of electrical lights housed in a light fixture that produces light using light-emitting diode (LED). LEDs are used in signaling devices or lighting fixtures that are installed in various hazardous sectors of oil and gas industry. LED lightings and fixtures are more ideal than traditional incandescent and fluorescent lamps.

Rising resource autonomy and environmental awareness has blocked numerous upcoming exploration sites in the world. This results in the budget allocation by the government of various economies that further limits the funds that would be allocated on exploration, excavation and extraction projects. This is analyzed to constrain the growth of the LED lighting market in oil & gas.