Lighting contributes significantly to business energy use and operating costs. Increasing energy prices highlight the need to reduce the cost of lighting. Energy use associated with lighting systems can be reduced by up to 82 per cent if energy efficient lighting practices are adopted. Integrating all of the possible energy reduction techniques into an overall lighting strategy creates a holistic solution for any project and is best practice.
The trend for the increasing efficacy also means users tend to get more and better quality light at a lower running cost. That is, the higher energy efficiency of the LED sources translates into lower energy bills and greater reductions in CO2 emissions. LED costs fall rapidly, then slow in 2017, reaching near parity with CFLs in 2020. Actual LED pricing in a given country may vary from these levels. They depend on, for example, volume of imports and consumer demand.
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Light Emitting Diode (LED) lamps provide unidirectional light output. This presents a hindrance to market growth, since a few applications require the broad beam for lighting. While LED lamps accounted for a relatively small market share in the year 2012, this segment is estimated to witness high demand over the forecast period. The ASP of these products is considerably higher in comparison to other lamp types; however, with the enhancement in the manufacturing process it is expected to result in a significant cost reduction. 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.
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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. Additionally, the favorable government policies for the energy efficiency are expected to drive the market in mature economies of North America & Europe. GE Lighting, Philips Lighting, Osram Licht AG, Havells, and Panasonic are among key market participants. Product innovation & differentiation along with the energy efficiency ratings are the major strategies followed by the leading companies.
Some of the prominent players operating in the global energy-efficient lighting technology market are, Cree Inc., Bajaj Electricals Ltd, Eaton Corporation, General Electric Company, Apple Inc., OSRAM Licht Group, Nichia Corporation, Toshiba Lighting & Technology Corporation, LIGMAN Lighting Co, and Bridelux Inc.
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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.
