Lamp Market Size Overview: Global Industry Valuation To Surpass US$ 18 billion by 2024

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.

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.

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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.

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.

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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.

Some Points From Table Of Content: –

Chapter 4    Lamp Market, By Product

4.1    Lamp industry share, by product, 2016 & 2024

4.2    Electrical Discharge Lamps

4.2.1    Market estimates and forecast, by region, 2013-2024

4.2.2    Fluorescent lamps

4.2.2.1    Market estimates and forecast, by region, 2013 – 2024

4.2.3    High density discharge lamps

4.2.3.1    Market estimates and forecast, by region, 2013 – 2024

4.3    Filament Lamps

4.3.1    Market estimates and forecast, by region, 2013-2024

4.3.2    Incandescent Lamps

4.3.2.1    Market estimates and forecast, by region, 2013 – 2024

4.3.3    Halogen Lamps

4.3.3.1    Market estimates and forecast, by region, 2013 – 2024

Chapter 5    Lamp Market, By Application

5.1    Lamp industry share, by application, 2016 & 2024

5.2    Indoor Use

5.2.1    Market estimates and forecast, by region, 2013-2024

5.2.2    Residential

5.2.2.1    Market estimates and forecast, by region, 2013-2024

5.2.3    Commercial

5.2.3.1    Market estimates and forecast, by region, 2013-2024

5.2.3.2    Retail

5.2.3.2.1    Market estimates and forecast, by region, 2013-2024

5.2.3.3    Hospitality

5.2.3.3.1    Market estimates and forecast, by region, 2013-2024

5.2.3.4    Healthcare

5.2.3.4.1    Market estimates and forecast, by region, 2013-2024

5.2.3.5    Others

5.2.3.5.1    Market estimates and forecast, by region, 2013-2024

5.2.4    Industrial

5.2.4.1    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

5.3.3    Highways

5.3.3.1    Market estimates and forecast, by region, 2013-2024

5.3.4    Public Places

5.3.4.1    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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