The energy-efficient lighting market size is expected to see strong growth in the next few years. It will grow to $75.3 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to smart lighting integration, urbanization and infrastructure development, energy efficiency targets, market expansion in developing countries, incentive programs and rebates. Major trends in the forecast period include internet of things (IoT) integration, human-centric lighting solutions, circadian lighting adoption, Li-Fi technology development, growth in horticultural lighting market.
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Segmentation & Regional Insights
The energy-efficient lighting market covered in this report is segmented –
1) By Type: High-Intensity Discharge Lamps (HID), Linear Fluorescent Lamps (LFL), Light Emitting Diodes (LED), Other Types
2) By Application: Residential, Commercial, Industrial, Outdoor, Other Applications
3) By End-User: Government, Healthcare, Education, Retail, Hospitality, Other End-Users
Europe was the largest region in the energy-efficient lighting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-efficient lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The government's energy-efficiency initiatives are expected to fuel the growth of the energy-efficient lighting market going forward. Energy-efficiency initiatives refer to programs, policies, or actions implemented to reduce energy consumption and increase energy efficiency. Government initiatives are helpful in advancing energy-efficient lighting through the establishment of standards, supporting research and development, and promoting cross-sector collaboration. For instance, in December 2023, according to the Department of Energy, a US-based federal government agency, the Biden-Harris Administration is allocating $530 million to enhance building energy efficiency and resilience, aiming to reduce consumer costs by promoting the adoption and implementation of cutting-edge energy codes, zero energy codes, building performance standards, and innovative codes across US. Therefore, the government's energy-efficiency initiatives are driving the energy-efficient lighting market.
Key Industry Players
Major companies operating in the energy-efficient lighting market are General Electric Company, Schneider Electric SE, ABB Group, Toshiba corporation, Philips Lighting, Eaton Corporation, Signify N.V., OSRAM GmbH, Hubbell Lighting Inc., Acuity Brands, Zumtobel Group AG, Seoul Semiconductor Co. Ltd., Cree Inc., Bajaj Electricals Ltd., Leviton Manufacturing Co. Inc., Dialight, Lumileds Holding B.V., Cooper Lighting, The Lighting Quotient, Bridgelux Inc., Soraa Inc., Advanced Lighting Technologies Australia Inc., Nichia Corporation, Savant Systems Inc.
The energy-efficient lighting market report table of contents includes:
1. Executive Summary
2. Energy-Efficient Lighting Market Characteristics
3. Energy-Efficient Lighting Market Trends And Strategies
4. Energy-Efficient Lighting Market - Macro Economic Scenario
5. Global Energy-Efficient Lighting Market Size and Growth
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31. Energy-Efficient Lighting Market Other Major And Innovative Companies
32. Global Energy-Efficient Lighting Market Competitive Benchmarking
33. Global Energy-Efficient Lighting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Energy-Efficient Lighting Market
35. Energy-Efficient Lighting Market Future Outlook and Potential Analysis
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The Energy-Efficient Lighting Technology Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global Energy-Efficient Lighting Technology market are Apple Inc., Bajaj Electricals Ltd., Bridgelux Inc., Cooper Lighting, Cree Inc., Digital Lumens Inc., GE Lighting, LIGMAN Lighting Co. Ltd., Nichia Corporation, OSRAM GmbH, and Philips Lighting.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global Energy-Efficient Lighting Technology Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/energy-efficient-lighting-technology-market/download-sampleMarket DynamicsThe increasing government activities towards the appropriation of energy-efficient solutions coupled with green building initiatives in various countries contribute towards the market growth.
Moreover, growing consumer awareness regarding energy-efficient products and devices is further boosting the market value.
On the flip side, the presence of chemical elements such as mercury and xenon that are toxic in nature coupled with environmental concerns related to the exposure of these gases hamper the market growth.The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity.
Global Energy-Efficient Lighting Technology Market was valued US$ 187.4Bn in 2017 and is expected to reach US$ 377.8Bn by 2026, at a CAGR of 8.1% during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
Further, report also focuses on competitive analysis of key players by Product Type, price, financial position, Product Type portfolio, growth strategies, and regional presence.
The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to particular market segment.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.In Global Energy-efficient Lighting Technology market, increasing government activities towards appropriation of energy efficient solutions coupled with green building initiatives in various countries are major factors driving growth of the global energy efficient lighting technology market.
Increasing adoption of energy efficient lighting technology by various residential, enterprises, commercial buildings and increasing deployment of smart buildings and smart cities that use energy efficient lighting solutions are some other factors fueling the market growth.
Also popular strategies with companies will plan to merger and acquisitions, which is not just helps them to diversify their product portfolios but also expand their geographical outreach.Based on Product Type, Light Emitting Diode (LEDs) are expected to see maximum growth in the global energy efficient lighting technology market on account of their swift uptake on the back of surging popularity.
Lighting contributes significantly to business energy use and operating costs.
That is, the higher energy efficiency of the LED sources translates into lower energy bills and greater reductions in CO2 emissions.
Actual LED pricing in a given country may vary from these levels.
Residential sector was the largest end-use segment in 2012.
This trend is expected to continue over the next few years, particularly in the developing nations.
Industrial lighting accounted for a very small percentage of the total market in 2012; it is further expected to lose market share in the future.Request for Table of Contents: https://www.trendsmarketresearch.com/report/requesttoc/3026 Asia Pacific is anticipated to be the fastest growing economy over the forecast period, with high expected production & consumption of theenergy efficient lamps in general, and LED lamps particularly.
