Market Insights:
Energy Efficient Lamps Market size was valued at USD 46.6 Billion in 2021, registering a CAGR of 7.8 % during the forecast period (2022-2030), and the market is projected to be worth USD 91.7 Billion by 2030.
Energy-efficient lights are more energy efficient, ecologically friendly, and cost-effective when compared to traditional equivalents. The fundamental advantage of these items is that they minimise carbon emissions and fossil fuel usage, so aiding in the mitigation of global warming and related problems. The cost of electricity varies by area, with governments attempting to ensure enough power generation.
Energy Efficient Lamps Market Research Report” was just released by Market Research Community. It is divided into several categories, including Technology (LED, HID Lighting, Fluorescent Lighting, Others), application (General Lighting, Backlighting, Automotive Lighting, Medical Lighting), and companies (Intematix Corporation, LED Engin, Inc., Toyoda Gosei Co., Ltd., TCP International Holdings Ltd., Bright Light Systems, Havells, Panasonic, Applied Science and Technology Research Institute, Toyoda Gosei, Ceravision, Osram Licht AG, Royal Philips Electronics N.V., Seoul Semiconductor Co., Ltd., General Electric Company, Nichia Corporation, Aixtron Se, Bridgelux, Inc., Cree, Inc., Acuity Brands Lighting, Inc., Advanced Lighting Technologies, Inc., Energy Focus, Inc), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7.8 %, over the forecast period of 2022–2030
Driver:
The increased adoption of Energy Efficient Lamps in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Energy Efficient Lamps also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Energy Efficient Lamps in many sectors also boosts the market growth during the forecast period.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 91.7 Billion |
| CAGR (2022-2030) | 7.8 % |
| By Technology | LED, HID Lighting, Fluorescent Lighting, Others |
| By Application | General Lighting, Backlighting, Automotive Lighting, Medical Lighting |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Intematix Corporation, LED Engin, Inc., Toyoda Gosei Co., Ltd., TCP International Holdings Ltd., Bright Light Systems, Havells, Panasonic, Applied Science and Technology Research Institute, Toyoda Gosei, Ceravision, Osram Licht AG, Royal Philips Electronics N.V., Seoul Semiconductor Co., Ltd., General Electric Company, Nichia Corporation, Aixtron Se, Bridgelux, Inc., Cree, Inc., Acuity Brands Lighting, Inc., Advanced Lighting Technologies, Inc., Energy Focus, Inc. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Energy Efficient Lamps market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Intematix Corporation, LED Engin, Inc., Toyoda Gosei Co., Ltd., TCP International Holdings Ltd., Bright Light Systems, Havells, Panasonic, Applied Science and Technology Research Institute, Toyoda Gosei, Ceravision, Osram Licht AG, Royal Philips Electronics N.V., Seoul Semiconductor Co., Ltd., General Electric Company, Nichia Corporation, Aixtron Se, Bridgelux, Inc., Cree, Inc., Acuity Brands Lighting, Inc., Advanced Lighting Technologies, Inc., Energy Focus, Inc
Market Segment Analysis:
By Technology
- LED
- HID Lighting
- Fluorescent Lighting
- Others
By Application
- General Lighting
- Backlighting
- Automotive Lighting
- Medical Lighting
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Energy Efficient Lamps industries in the region.
Key Energy Efficient Lamps Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Energy Efficient Lamps Market segments.
– Largest Market Share Held by Industry to Industry for Energy Efficient Lamps
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Energy Efficient Lamps Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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