Albany, NY -- (SBWIRE) -- 05/24/2016 -- Leading market intelligence firm, Transparency Market Research, has announced the release of a report on the global high bay lighting market. The report examines the high bay lighting market from all angles in order to present a complete overview for readers. The report is titled 'High Bay Lighting Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2015 – 2023.'

High bay lighting is used in industrial buildings that require constant lighting. It can be installed at a height of 15 feet or more. High bay lighting reduces the total amount of electricity required to provide constant lighting, since highly efficient lighting technologies are used in high bay lighting systems. Current lighting systems in industrial settings usually use high-wattage lighting, which adds to the energy bill. The rising awareness about the importance of increasing the energy efficiency of lighting fixtures is thus a major driver for the global high bay lighting market. LEDs, induction lighting, and high-intensity discharge lighting are the major types of lighting systems used in high bay lighting systems.

Another advantage of high bay lighting is that it illuminates the given area from a greater height than other lighting systems. This results in complete illumination and little glare.

The highly efficient and low-wattage lighting used in high bay lighting also results in low operational costs, which is another driver propelling the global high bay lighting market. However, this is also offset by the high upfront costs of high bay lighting technology, since the level of technological sophistication of these lighting products is quite high. Even though the payback period for high bay lighting is relatively short, the high upfront prices are a significant restraint on the global high bay lighting market.

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Based on end use, the global high bay lighting market is segmented into industries, warehouses, sports facilities, transportation lighting, and garages. The rising interest in sport all over the world has helped the high bay lighting market massively, as sports arenas need lighting systems that offer complete coverage of the whole stadium and minimal glare. The height at which high bay lighting systems are installed helps achieve both these objectives. The different lighting requirements of various sports can easily be fulfilled with the help of high bay lighting systems.

Geographically, the report segments the global high bay lighting market into North America, Asia Pacific, Europe, and Rest of the World. North America is the leading regional segment of the global high bay lighting market, followed by Asia Pacific.

Major competitors in the high bay lighting market include GE, Cree, Inc., Digital Lumens, Inc., and Koninklijke Philips N.V.

About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.