General Electric
Company, Eaton, and Philips Lighting Holding B.V., have been the
three leading players in the global energy efficient lighting market
over the recent past. According to Transparency Market Research,
their collective revenue of 83% of the global market in 2015 shows
their collective success rate in the market in terms of technological
developments and distribution strength. Philips and Eaton have so far
been neck and neck in the competition. At the same time, there are
multiple regions that hold a massive number of local players, despite
the stronghold of the leading players in the global scenario. China,
for instance, has shown a stern resistance to market penetration by
international players, due to its solid regional base of players.
Browse Market
Research Report @
The global energy
efficient lighting market is expected to be valued at US$15 bn by the
end of 2024. It was calculated at US$5.49 bn at the end of 2016 and
is likely to continue expanding at a whopping CAGR of 13.4% within
the report’s forecast period from 2016 to 2024.
Governments in
Support of Global Energy Efficient Lighting Market
“As it stands,
perhaps the greatest backers for the global energy efficient lighting
market are national governments themselves. The demand for
energy-efficient solutions is extremely high in all regions of the
world, regardless of their economic standing. One of the areas where
government support shines through is in the warehouse segment of the
global energy efficient lighting market. An example for this would be
the banning of incandescent bulbs in warehouses and similar spaces.
This mandate has given rise to a huge demand for smart lighting
solutions including the distribution of LEDs and the use of remote
lighting control systems,” states a TMR analyst.
Fill the form for
an exclusive sample of this report @
The global energy
efficient lighting market is also benefitting from an increase in
demand for them in storage spaces that require refrigeration, cooling
and ventilation, or heat and light sensitive materials. In Europe,
the market for energy efficient lighting is currently booming due to
the implementation of standards such as the Energy Performance
Certification, which need any commercial space that wants to be
certified to be using the given energy saving measures.
LED Dominance
Bodes Ill for LFL Sales
While the overall
global energy efficient lighting market is expected to rise at a
phenomenal rate over the coming years, segments within the market are
currently in competition with each other. Based on the type of
lighting source, the global energy efficient lighting market can be
segmented into high-intensity lamps, linear fluorescent, light
emitting diodes, and others. LFLs had experienced a positive demand
volume in the recent past. However, the falling prices and growing
level of average efficiency of LED lightings have created a drastic
drop in the demand for the former. Over the coming years, LEDs are
expected to outshine LFLs in terms of profitability and demand
volume.
“Emerging
economies are expected to be key locations for players in the global
energy efficient lighting market as the market progresses. Developed
economies are already showing not only a high demand for energy
efficient lighting, but have also incorporated a very high scope of
implementation for them. On the other hand, the market is still
relatively newer in emerging economies, thereby creating a massive
untapped area left to fill in by the globally prominent players and
local players alike. The situation is made even more feasible by the
growing spending power of these nations, through either government
incentives or improving economic structure,” adds the analyst.
Get Request For
Discount On This Report @
The information
presented in this review is based on a Transparency Market Research
report, titled, “Energy Efficient Lighting Market (Lighting Source
- High-intensity Discharge Lamps (HID), Linear Fluorescent Lamps
(LFL), Light Emitting Diodes (LED)) - Global Industry Analysis, Size,
Share, Growth Trends, And Forecast 2016 - 2024.”
Key segments of
the Global Energy Efficient Lighting Market
Energy Efficient
Lighting Market: By Lighting Source
- High-intensity Discharge Lamps (HID)
- Linear Fluorescent Lamps (LFL)
- Light Emitting Diodes (LED)
- Other Lighting Sources
About
Us
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.
Contact Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment