Trusted Business Insights presents the Updated and Latest Study on Lamp Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Lamp Market
Industry / Sector Trends
Lamp Market size exceeded USD 40 billion in 2016, with global shipments of over 32 billion.
China Lamp Market Share, By Product, 2016
Increased usage in various indoor and outdoor applications such as residential, commercial, industrial, highways, and automobiles has augmented the lamp market growth. Government initiatives for increasing lighting facilities in rural areas has increased the overall industry demand.
The U.S. Department of Energy has issued new regulations related to the efficiency of fluorescent lamp ballasts which took effect from November 2014. These rules have created new metric standards for measuring ballast efficiency and have established efficiency standards impacting many fluorescent T5, T8, & T12 ballasts in the industry. According to the rules, these ballasts are expected to save about 5.6 quads of energy resulting in USD 24.1 billion in energy savings for the products shipped from 2014 2043. These standards are estimated to avoid 106 million metric tons of CO2 emissions.
The ban on incandescent bulbs will negatively affect the lamp market as the consumers are shifting toward modern technologies such as LEDs and CFLs that save energy and are highly-efficient alternatives for these bulbs. High energy consumption costs of bulbs as compared to LED lamps act as a restraint for this industry. Halogen and fluorescent bulbs produce more heat and thus result in more energy consumption. LEDs utilize 90% less energy and last approximately 15 times longer than the halogen bulbs. Moreover, government initiatives across the globe for the implementation of LED use has negatively affected the lamp market demand.
Market Segmentation, Outlook & Regional Insights: Lamp Market
Lamp Market, By Product
Electric discharge lamp market share is anticipated to display a significant growth rate in the coming years. Rising demand of CFLs over the past decade has fueled the revenue growth across this segment. The long life, efficiency, and reliability benefits offered by these bulbs testifies their rising adoption.
The fluorescent lamps market size has witnessed significant growth as these bulbs are more cost-effective. They provide better illumination, faster start-up, longer durability, less glare, and superior light quality. Moreover, increased usage of CFLs in various applications has positively impacted the growth prospects. Advancements in incandescent light bulbs may replace LEDs. The energy which is lost in the form of heat can be bounced back by surrounding the filament with special crystal structure
Lamp Market, By Application
Indoor applications occupied the largest revenue share and are anticipated to continue dominating the industry in the forecast timeframe. Growing lamp market adoption in the residential, commercial, and industrial sectors will drive the industry demand.
Improvement in living standards, growing awareness about adopting energy efficient bulbs, has fueled the demand across the residential sector. Household, hospitality, and healthcare segments are increasingly implementing halogen and fluorescent bulbs, which has positively impacted the industry growth. Several types of CFLs include A-Line bulbs that are commonly used in households.
Lamp Market, By Region
The need for energy saving bulbs and the rising consumer preference toward energy efficient products will offer growth opportunities to the U.S. lamp market. The demand for CFLs has increased in the UK due to phasing out of incandescent lamps; this will augment the lamp market demand over the forecast time frame. Retrofitting energy efficient products is a major trend observed in the regional landscape.
Subsidies provided by the governments of key regions such as Brazil and Mexico is expected to lower the product costs. In Mexico, incandescent light bulbs are more commonly used in residential areas owing to their low-cost and longer product life. The presence of many competitors is credited to low-cost and abundance of raw materials. This, in turn, will reduce the input costs and offer consumers a wide variety of alternatives.
Key Players, Recent Developments & Sector Viewpoints: Lamp Market
GE, Philips, and Osram are some of the major competitors in the lamp market. Technological advancements in bulbs such as high-efficiency ballasts are being widely adopted across the industry. Manufacturers are implementing aggressive strategies to gain a competitive edge. Mergers, collaborations, and partnerships are a few strategies adopted by the industry players. Some companies acquire local and regional players to increase their lamp market share. For instance, in 2015, GE acquired Alstom Thermal Company which is involved in power generation and transmission.
High-efficiency ballasts are produced for increased efficiency of the bulbs. Manufacturers are focusing on the maximization of energy savings and making ballasts more energy efficient. High-efficiency ballasts have obtained standards in a variety of wattages with technological advancements.
Lamp Industry Viewpoint
Electric discharge bulb consists of a transparent container in which a gas is energized by the voltage applied that makes it glow. They are classified into fluorescent and high-intensity discharge bulbs. Fluorescent bulbs are low-weight mercury vapor bulbs which utilize fluorescence to produce visible light. They consist of a glass tube with phosphorus coating, mercury, a small amount of inert gas, and a set of electrodes. A fluorescent lamp generally provides 25-35% energy savings. Moreover, they do not produce as much heat as halogen or incandescent bulbs.
Filament bulb consists of an electrical conductor or filament that produces light on a passage of current. They are classified into halogen and incandescent lamps. Halogen bulbs use halogen gas to increase rated life and light output. They provide higher rated life, light quality, and energy efficiency than regular incandescent lamps. These bulbs are generally used in automotive headlights, work lights, and under-cabinet lighting
What are the Key Insights Covered: Exhaustive Lamp Market
1. Market size (sales, revenue and growth rate) of Lamp industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Lamp industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Lamp industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Lamp industry.
What is the Research Methodology used: Lamp Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Lamp Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine