Global Lamps Market: Overview
The global lamps market is expected to expand at a modest CAGR from 2015 to 2023. It is estimated that lighting consumes a significant portion of energy production. The growing demand from rural areas on account of initiatives taken by governments across regions is expected to boost the global lamps market. Rural areas in developing nations of India, the Middle East and Latin America are witnessing a surge in the demand for lamps. The demand for lamps exists not only from residential sectors, but also from commercial and industrial sectors, which will ensure a steady growth of the market.
The report studies key segments within the global water based enamel industry and helps in identifying the segments and sub-segments that are witnessing sluggish growth as well as those segments which are expected to witness a remarkable growth rate. The study also attributes key factors behind the state and size of a segment. The competitive landscape is also included in the later part of the report, where key companies are studied and their collective share is given. The study helps in understanding the structure of the industry and helps track industry trends, opportunities, and threats. It also helps identify the various growth opportunities in the market in the future and offers an unbiased review on the future of the market.
Global Lamps Market: Key Drivers and Trends
The global lamps market is highly fragmented with numerous companies launching their products of varying sizes. Aggressive marketing strategies are used by these players so as to occupy a strong position in the market. The increasing number of players in the market is also intensifying competition. Players in the market are also participating in mergers, collaborations, and partnerships to increase their global presence.
Despite being characterized by the presence of local as well as international companies, the market is expected to be led by a few international companies, which are constantly acquiring local or regional companies to increase their shares. The global lamps market may be termed mature and stagnant, however new product innovations may boost the growth of the market.
Global Lamps Market: Segmentation
This market study estimates that the residential segment will contribute for a significant portion of the global lamps market. The rapid increase in the population and improvement in the economic condition of the people in developing nations and rural areas of these countries will fuel the growth of the segment. By type of lighting, the LED lighting segment is presently experiencing a robust growth owing to high energy efficiency, weather resistant design, and increased operational life.
Key companies in the global lamps market are:
The major players in the lamps market are Chicago Miniature Lighting, EiKO Limited, Deposition Sciences, EYE Lighting International, Federal Signal Corporation, Federal-Mogul Corporation, Fiat SpA, General Electric Company, GE Lighting, Hamamatsu Photonics KK, Hella KGaA Hueck & Company, Harrison Toshiba Lighting, Iwasaki Electric Company Limited, LCD Lighting, JKL Components Corporation, Lights of America Incorporated, Light Sources Incorporated, National Cathode Corporation, Panasonic Corporation, OSRAM SYLVANIA, Peterson Corporation, Royal Philips Electronics NV, Philips Lighting, Siemens AG, Stanley Electric Company Limited, Toshiba Corporation, TCP Incorporated, Trojan Incorporated, Welch Allyn Incorporated, US Energy Technologies Incorporated, Ushio Incorporated, US Lighting Tech, UVP LLC, Visteon Corporation, Voltarc Technologies, Venture Lighting International, and Advanced Lighting Technologies Incorporated.
The report segments the global lamps market as:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.