Energy-efficient Lighting Technology Market - Snapshot
The energy-efficient lighting technology comprises compact and linear fluorescent lighting as well as LED lighting. Exponentially growing population and urbanization lead to the rise of commercial and residential buildings. Over the last 30 years, the demand for energy has risen significantly. In order to meet this increasing demand, governments across the world have started construction of new power plants. However, strong resistance from people staying near these plants have resulted in several legal actions and lawsuits that decelerated and, in some cases, stopped the construction of new power plants. Therefore, in order to extend the life of existing power plants and provisionally avoid the need to build new ones, governments have started promoting the use of energy-efficient products. The global energy-efficient lighting market is projected to expand at a CAGR of 3.5% during the forecast period and reach value of US$ 29,712.6 Mn by 2026.
Prices of energy-efficient light bulbs (such as CFLs and LEDs) were initially very high. Therefore, though being energy-efficient, these bulbs hardly replaced any incandescent lights. Currently, prices of LED bulbs have dropped considerably since its introduction and these bulbs have become affordable for the common man for use in lighting applications. Furthermore, since an LED light bulb can last from 20,000 to 50,000 hours i.e. 5–8 times longer than any other bulb, its cost of operation is lower than other bulb types. Also, an LED bulb is a filament-less bulb. It does not break like an incandescent bulb, which makes it more durable than others. Moreover, energy-efficient light bulbs offer significant electricity savings, as they utilize less energy and last longer. Thus, owing to their lower operating costs, these bulbs are increasingly being preferred in upcoming smart buildings and they are also replacing the existing traditional light bulbs in several other applications.
However, major energy-efficient light bulbs such as CFLs and LEDs are not suitable for extreme environments. For example, in case of a CFL, extreme temperature can affect the rated lifetime and light level of the bulb. Sudden breaking of the bulb in extreme temperatures may result in mercury leakage, which can be highly toxic to humans and the environment. Similarly, LED light bulbs become ineffective or stop working in high ambient temperatures. High temperature results in overheating of the LED package, ultimately leading to device failure. Therefore, these bulbs require continuous monitoring. However, the impact of this restraint is expected to decrease during the forecast period, as adequate heat sinking is being used to remove all excess heat and prevent these bulbs from malfunctioning before the due time.
Energy-efficient lighting is expected to witness growth opportunities as Internet of Lights (IoL). Internet of Lights is formed when all smart lights in a space are connected by digital networks and they are able to communicate with one another; communicate with a server or gateway; and communicate with sensors and controls in the vicinity of lights. In such a configuration, Internet of Lights becomes the backbone of a building-management or home-automation network. Along with residential applications, IoL is expected to witness growth opportunities in commercial applications during the forecast period.
Some of the prominent players operating in the global energy-efficient lighting technology market are Bajaj Electricals Ltd., Cree Inc., Eaton Corporation, General Electric Company, OSRAM Licht Group, Apple Inc., Nichia Corporation, Toshiba Lighting & Technology Corporation, LIGMAN Lighting Co, and Bridelux Inc.
Energy-efficient Lighting Technology Market - Overview
This comprehensive report by Transparency Market Research analyzes and forecasts the energy-efficient lighting technology market at the global and regional levels. The report provides analysis for the period from 2018 to 2026, wherein 2018–2026 is the forecast period and 2017 is the base year. An in-depth and unbiased market assessment has been made to offer readers in-depth and accurate analysis. Based on product scale, the market has been broadly classified into new installation and replacement. The market has also been segmented based on product type, center CCT, and application. The report emphasizes all major trends likely to be witnessed in the global energy-efficient lighting technology market from 2018 to 2026. It also focuses on restraining factors, market drivers, and opportunities for the energy-efficient lighting technology market during the forecast period. The study provides a complete perspective about the energy-efficient lighting technology market , in terms of value (in US$ Mn) and volume (in million units), across various geographies including Asia Pacific, South America, North America, Middle East & Africa (MEA), and Europe.
The report includes detailed value chain analysis, which is focused to offer a widespread view of the global energy-efficient lighting technology market. Porter’s five forces analysis has also been provided to help understand the competition scenario in the global energy-efficient lighting technology market. The study incorporates Market Attractiveness Analysis, where market segments i.e. product scale, product type, center CCT, application, and geography segments have been benchmarked based on their market size, growth rate, and attractiveness. In order to offer a complete analysis of the overall competition scenario in the global energy-efficient lighting technology market, every geographic region mentioned in the report has been provided with attractiveness analysis.
The market overview chapter in the report explains market trends and dynamics including market restraining factors, drivers, and the current and future opportunities for the energy-efficient lighting technology market. Market outlook analysis has also been provided in the report. Additionally, the report provides analysis of different business strategies being adopted by leading players in the energy-efficient lighting technology market. The market introduction chapter assists in getting an idea of different trends in the energy-efficient lighting technology market.
Global Energy-efficient Lighting Technology Market: Scope of the Report
The study provides a decisive view of the global energy-efficient lighting technology market, by segmenting the market in terms of product scale into new installation and replacement. Based on product type, the market has been classified into incandescent lamp, LED, and gas discharge lamp. The incandescent lamp segment has been sub-divided into halogen and others, whereas the gas discharge lamp segment has been sub-classified into arc lamp, CFL, LFL, and others. Based on center CCT, the energy-efficient lighting technology market has been classified into lower than 2200K, 2200K and 2500K, 2700K and 3000K, 3500K and 4000K, 4500K and 5000K, 5700K and 6500K, and more than 6500K. Based on application, the market has been segregated into residential, commercial, and industrial. The report provides detailed region-wise breakdown of the global energy-efficient lighting technology market and categorizes it into various segments, thereby providing valuable insights at micro and macro levels.
The report further highlights the competition scenario in the global energy-efficient lighting technology market, by ranking all major players according to their geographic presence and key recent developments. The insights into the energy-efficient lighting technology market is a result of TMR’s extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
In terms of country, the North America market has been divided into Canada, the U.S., and Rest of North America. Furthermore, the Europe market has been categorized into the U.K., France, Germany, and Rest of Europe. The APAC energy-efficient lighting technology market includes China, Japan, India, and Rest of Asia Pacific. Middle East & Africa covers GCC, South Africa, and Rest of Middle East & Africa. Similarly, South America includes Brazil and Rest of South America. This report provides all strategic information required to understand the energy-efficient lighting technology market. Also, the report provides insights into the market in geographical regions mentioned above.
Global Energy-efficient Lighting Technology Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources include annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, and statistical databases.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the global energy-efficient lighting technology market across geographies. Primary interviews are usually conducted on an ongoing basis with market experts and participants in order to obtain latest market insights and validate the existing data and analysis. Primary interviews offer new information on important factors such as market trends, market size, competition landscape, and growth trends. These factors help validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research, is again discussed and examined by TMR’s expert panel.
Global Energy-efficient Lighting Technology Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global energy-efficient lighting technology market. Market players have been profiled in terms of attributes such as company overview, financial overview, SWOT analysis, business strategies, and recent developments. Key players operating in the energy-efficient lighting technology market are Bajaj Electricals Ltd., Cree Inc., Eaton Corporation, General Electric Company, OSRAM Licht Group, Apple Inc., Nichia Corporation, Toshiba Lighting & Technology Corporation, LIGMAN Lighting Co, and Bridelux Inc.
The global energy-efficient Lighting technology market has been segmented as follows:
Global Energy-efficient Lighting Technology Market, by Product Scale
- New Installation
Global Energy-efficient Lighting Technology Market, by Product Type
- Incandescent Lamp
- Halogen Lamp
- Gas Discharge Lamp
- Arc Lamp
Global Energy-efficient Lighting Technology Market, by Center CCT
- Lower than 2200K
- 2200K and 2500K
- 2700K and 3000K
- 3500K and 4000K
- 4500K and 5000K
- 5700K and 6500K
- More than 6500K
Global Energy-efficient Lighting Technology Market, by Application
Global Energy-efficient Lighting Technology Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America