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Energy Efficient Lighting Technology Market: Emergence of Advanced Technologies and Global Industry Analysis

Astute players in the global market for energy efficient lighting technology are focusing on developing sophisticated yet affordable environment-friendly, reliable lighting products to cater to the different requirements of customers. In fact, it has been noticed that already some companies are offering energy efficient lighting and control solutions with a variety of styles and functionalities that provide flexibility to design and business. In order to bolster their positions further, companies are also seen taking the inorganic route of mergers and acquisitions.

Some of prominent names operating in the global energy efficient lighting technology market are Apple Inc., Bajaj Electricals Ltd, Bridgelux Inc., Cooper Lighting, Cree Inc., Digital Lumens, Inc., Eaton Corporation, GE Lighting, LIGMAN Lighting Co., Ltd, Nichia Corporation, and OSRAM GmbH.

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A report by Transparency Market Research forecasts the global energy efficient lighting technology market to attain a value of US$300 bn by 2025 by rising at CAGR of 7.9% during the forecast period from 2017 to 2025.

Depending upon the type of products, the key segments of the global energy efficient lighting technology market are incandescent lamp, light emitting diode (LED), arc lamp, and gas discharge lamps. Among them, the LEDs are predicted to rise at maximum pace on account of their soaring popularity resulting from their different customized shapes for both commercial and residential purpose.

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Geographically, some of the main regions in the global energy efficient lighting technology market are Asia Pacific, Europe, South America, North America, and the Middle East and Africa. Of them, Asia Pacific is a key region in terms of contribution to overall revenue. This is because of the presence of a large number of manufacturers and the easy availability of raw materials in the region, which makes it possible to reduce costs and manufacture affordable products. The market in Asia Pacific is expected to retain its dominant position in the near future by pulling a revenue of US$82.86 bn by 2025.

Energy efficient lighting technology is a clutch of energy efficient equipment, effective controls, and design structure used for lighting purpose. Not only do they serve to bring down energy consumption, but also illuminate effectively. With electricity production being limited and pollution levels rising by the day, such advantages are majorly fuelling demand in the global energy efficient lighting technology market.

Mandates forcing residential, official, and commercial establishments to adopt energy efficient features and functionalities is also positively impacting the market. Further, emergence and popularity of smart buildings that use energy efficient lighting is stoking demand in the market too.

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At present, the residential sector is driving most of the demand in the global market for energy efficient lighting technology. It is trailed by the government segment which is swiftly adopting such technologies in its premises, public places, and projects such as smart cities.

This review is based on the findings of a TMR report, titled, “Energy Efficient Lighting Technology Market (Product - Incandescent Lamp, Light Emitting Diode, Arc Lamp (Xenon Arc Lamp, Mercury Xenon Arc Lamp, Ultra High Performance Lamps, and Metal Halide Lamp), and Gas Discharge Lamps (Compact Fluorescent Lamp, Linear Fluorescent Lamps, Neon Lamp, Mercury Vapor Lamp, Sodium Vapor Lamp and Electrode less Lamp); Application (Commercial, Residential, and Government); Correlated Color Temperature (2700K-3000K, 3500K - 4000K, 4000K- 5000K, 5000K-6500K, and More Than 6500K) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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