Commercial Fluorescent Lighting Market: Overview
Fluorescent lighting is a device that uses set of chemical reaction inside a glass structure for illumination. The reaction occurs between mercury vapour and gas. This results in emission of UV light. Further, the light illuminates the phosphor powder placed inside the enclosed glass structure. This, eventually, result in fluorescent light effect.
Energy efficiency and cost-effective product are key factors driving growth of the market value. The fluorescent lighting is adopted across the globe because of their high illuminating capabilities. Rapid industrialization is likely to act as a significant driving factor.
On the other hand, inflow of upcoming alternatives of lighting products and high instalment cost are likely to interfere with the growth rate of commercial fluorescent lighting market in coming years. In addition, adverse effect of commercial fluorescent lighting on human beings, surrounding environment, delay in achieving full brightness due to radio interference, and its inefficiency at extreme temperatures are some of the major challenges posing threat to expansion of the global commercial fluorescent lighting market.
The upcoming report on commercial fluorescent lighting market provides insights about various factors affecting growth of the market during forecast period (2019-2029). The market intelligence report also provides details about restraining factors that are likely to interfere with growth of commercial fluorescent lighting market.
Commercial Fluorescent Lighting Market: Notable Developments
In May 2018, Acuity Brands Lighting inc. acquired IOTA Engineering LLC. The acquisition was done with aim to mark its presence in several regions. Also, the acquisition will aid to enhancement of smart lighting and building solutions.
Likewise, in April 2018, LEDVANCE Gmbh stated its acquisition by MLS. LEDVANCE. However, it will continue to operate as a German Gmbh. The company will be situated at the same headquarters. In addition, the acquisition will aid to widen product portfolio of both the companies and enhance their product quality.
Some of the key players operating in the global commercial fluorescent lighting market are-
- Koninklijke Philips N.V.
- Visa Lighting
- GENERAL ELECTRIC
- Semiconductor Co. Ltd.
- Technical Consumer Products Inc.
- Energy Focus
- Intematix Corporation
- Acuity Brands Lighting Inc.
- Waldmann Group
- AFX Inc
- LEDVANCE GmbH
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Commercial Fluorescent Lighting Market: Key Trends
Advancement in lifestyle and rapid urbanization are key trends driving commercial fluorescent lighting market. It is highly economical and provides higher lumen efficacy. These are prominent factors pushing the adoption rate of fluorescent lighting.
Commercial Fluorescent Lighting Market: Regional Analysis
The commercial fluorescent market is widespread in North America, Latin America, Europe, Asia Pacific, and Middle East Asia Pacific. Latin America is likely to hold significant share in the global commercial fluorescent lighting market. The significance is attributed to growing industrialization, escalating demand for electricity, and growing population in the region. On the other hand, high installation cost and alternative products might affect the growth trajectory of the regional market.
Further, Asia Pacific regional market seems to be a promising one. The market is likely to contribute significantly to growth of the global commercial fluorescent lighting market. Owing to growing urbanization, high electrification rate in developing economies, and rise in per capita income are likely to push the adoption rate of fluorescent lighting in the region.
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Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.