|Excessive use of this product in numerous application including hospitality, commercial, residential, roadways, and industrial will drive the global lamp market over the forecast timeframe. The use of halogen and high-intensity discharge light bulbs in the automobile sector will positively impact the lamp market growth.
Lamp market is expected to cross USD 18 billion by 2024. Government initiatives to increase lighting facilities, especially in rural areas, have led to their increased production. Rural areas of emerging economies, such as India and few nations the in Middle East and Latin America, are witnessing a surging demand that will escalate the industry growth.
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Halogen lamps and CFLs produce about 90% and 80% of their energy as heat respectively resulting in high energy consumption costs. Shifting preference of consumers toward LEDs owing to their less energy consumption costs as compared to traditional halogen and fluorescent bulbs will pose a major threat to the lamp market growth over the forecast timespan. Various government initiatives to ban incandescent bulbs due to their inefficiency and implementation of LED bulbs have negatively affected the industry growth.
High-efficiency ballasts increase the efficiency of light bulbs. Manufacturers are focusing on developing energy-efficient ballasts that comply with the regulations and use optimum energy. They are being increasingly used owing to their energy management and affordability. Technological advancements in the industry, such as smart lights and motion sensing lights, are gaining prominence in lamp market, especially in the household and hospitality segment owing to their energy management ability.
Various regulations and standards are set across the globe to maintain the energy efficiency in lighting products. For instance, the Chinese government is providing subsidies for high-efficiency fluorescent bulbs. Moreover, the government is promoting the use of solid mercury instead of liquid mercury in bulbs due to its remarkable effects. Similarly, according to Environmental Protection Agency (EPA ), fluorescent and other mercury lamps must be managed as hazardous wastes under Universal Waste rule unless the bulb passes the Toxicity Characteristic Leaching Potential (TCLP) test. Electric discharge lamps market is anticipated to exhibit a considerable market share over the forecast time span
owing to the rising demand for CFLs over the past few years. Moreover, their features, such as reliability, efficiency, and long duration, will further escalate its growth. Indoor application is poised to showcase a significant growth rate owing to the growing implementation of fluorescent lamps in residential, commercial, retail centers, hospitality, and healthcare sectors. Rising need for good lighting conditions at work places and households will positively impact its growth over the forecast time span.
Rising consumer preferences and the need for energy-efficient bulbs will provide growth opportunities in the U.S. lamp market. Phase out of incandescent lamps in the UK has led to increased demand for CFLs this will boost the industry over the forecast period. Retrofitting energy saving bulbs is a major trend witnessed in the region.
Government subsidies provided in countries, such as Mexico and Brazil, are expected to reduce the product prices in the coming years. Incandescent bulbs are commonly used in Mexico for lighting households owing to their long product life cycle and low cost. Presence of numerous industry players is attributed to the availability of raw materials at low costs that results in lower input costs and provides customers with better alternatives.
Lamp market competitors are Osram, Philips, and GE. Manufacturers are involved in collaborations, mergers, and partnerships to gain a competitive edge in the industry. Manufacturers focus on developing energy-efficient products to save electricity consumption. Enhanced products need to comply with industry standards in various wattage levels.
Browse key industry insights spread across 180 pages with 298 market data tables & 15 figures & charts from the report, “Lamp Market Size By Product (Electrical Discharge [Fluorescent, High Intensity Discharge], Filament [Incandescent, Halogen]), By Application (Indoor [Residential, Commercial, Retail, Hospitality, Healthcare], Industrial), Outdoor [Highways, Public Places], Motor Vehicles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Vietnam, Indonesia, Thailand, Brazil, Mexico) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Table Content of Lamp Market:
Chapter 5 Lamp Market, By Application
5.1 Lamp market share, by application, 2016 & 2024
5.2 Indoor Use
5.2.1 Market estimates and forecast, by region, 2013-2024
184.108.40.206 Market estimates and forecast, by region, 2013-2024
220.127.116.11 Market estimates and forecast, by region, 2013-2024
18.104.22.168.1 Market estimates and forecast, by region, 2013-2024
22.214.171.124.1 Market estimates and forecast, by region, 2013-2024
126.96.36.199.1 Market estimates and forecast, by region, 2013-2024
188.8.131.52.1 Market estimates and forecast, by region, 2013-2024
184.108.40.206 Market estimates and forecast, by region, 2013-2024
5.3 Outdoor Use
5.3.1 Market estimates and forecast, 2013 – 2024
5.3.2 Market estimates and forecast, by region, 2013-2024
220.127.116.11 Market estimates and forecast, by region, 2013-2024
5.3.4 Public Places
18.104.22.168 Market estimates and forecast, by region, 2013-2024
5.4 Motor Vehicles
5.4.1 Market estimates and forecast, by region, 2013-2024
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