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Energy-efficient and sustainable lighting solutions
- Overall, the Lamps & Lighting market Worldwide is witnessing a shift towards energy-efficient and sustainable lighting solutions. Customers are increasingly opting for LED lights and smart lighting systems. The market is also influenced by local regulations and policies promoting energy conservation.
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The report covers the Lamps And Lighting Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Lamps And Lighting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
- Lamps And Lighting Market Trends
Statistics for the 2023 & 2024 Lamps And Lighting market...
- Lamps And Lighting Market Trends
- Covid-19 Impact
- Latest Trends
- Lighting Market Growth Factors
- Restraining Factor
- Segmentation
- Regional Insights
- Key Industry Players
- Key Industry Developments
- Report Coverage
Instant Shutdown in Manufacturing Units due to COVID-19 Impacted the Growth of Commercial Sector The COVID-19 pandemic slightly affected the growth of the market owing to the immediate shutdowns in the commercial sector and industries such as automotive and retail. According to a survey conducted by the Lighting Industry Association (LIA) during th...
Request a Free sampleto learn more about this report. Rising Adoption of Solar in Developing and Under-Developing Nations to Aid Market Growth The off-grid solar sector is growing significantly, as it is more energy efficient and provides Pay-As-You-Go (PAYGO) enabled products. Since the past few years, the application of LEDs in the solar system h...
Demand for Artificial Lightings in the Construction Industry is Driving Market Growth The rise of the construction industry has opened up a massive potential to drive the market growth. This growth is attributable to the rising government initiatives across the world to provide accommodation to the homeless people; an activity that requires light e...
Constraints in Setting up Newer Manufacturing Hubs is Hindering the Market Growth Investors are facing issues while setting up newer light manufacturing hubs in several countries, mainly due to the strict government policies which include the rules and regulations related to environmental actions. There are several other challenges that investors o...
By Lighting Type Analysis
LED Segment is Projected to Grow at the Highest CAGR due to Low Cost Based on lighting type, the market is segmented into LED, CFL, LFL, HID, halogen, and incandescent. The LED segment is expected to grow at a highest CAGR over the forecast period. The growth of this segment is attributable to increasing applications, low costs, and durability of LEDS. LEDs offer brighter light with less consumption of electricity. Several manufacturers have shifted from CFLs to LEDs over the past decade. The...
By Application Analysis
General Lighting Segment to Dominate the Lights Industry Owing to Surge in Construction Projects On the basis of application, the market is divided into general lighting, automotive lighting, backlighting, and others. The general lighting segment accounts for almost 80% of the total light industry due to increasing residential and commercial construction projects, which increases the use of these systems. This is followed by the automotive light segment in the market. In the automotive sector...
By End User Analysis
To know how our report can help streamline your business, Speak to Analyst Residential Segment is Expected to Hold the Largest Market Share Owing to the Adoption of Smart LED Lights By end user, the market is classified into residential, commercial, and industrial. The residential segment is anticipated to dominate the market, owing to increasing demand for new products at regular intervals. However, light manufacturing companies are more focused on developing new LEDs that consume less elect...
To get more information on the regional analysis of this market, Request a Free sample The market in Asia Pacific was worth USD 57.56 billion in 2022 and is expected to dominate in the lighting market share in the coming years. There are multiple registered and unregistered market key players that are involved in this sector. In Asia Pacific, China...
Koninklijke Philips N.V., Panasonic Corporation, and Cree, Inc.are More Focused on Increasing their Regional Presence GE Lighting holds the largest market share in the global lights industry, followed by Koninklijke Philips N.V. and Cree, Inc. The production of various lights products with innovative technology is the primary reason behind holding ...
February 2019 - Cree, Inc. introduced the next-generation ‘XLamp,' which is named as XP-E2 Photo Red (660nm) and Far Red (730nm). The newly launched product is especially developed to provide enhan...September 2019 - OSRAM launched new LiDAR (Light Detection and Ranging)lasers, which will be deployed in the autonomous vehicles. These new LiDARs will allow the driver to see farther with enhanced...September 2022 – OSRAM, a global manufacturer of lights and related products, entered into a partnership with Continental AG, an automotive lights manufacturer company. With this partnership, Conti...January 2022 - Acuity Brands, Inc., a prominent industrial technology company, strengthened its partnership with Microsoft to introduce enhanced features to its smart lights, lights controls, and b...To get information on various segments, share your queries with us The report provides a detailed analysis of the global market and focuses on key aspects such as leading companies, product/service types, and leading end-use applications of the product. Besides this, the report offers insights into the market trends and highlights the key industry ...
- 2022
- 2019-2030
- 2023
Major players in the lamps market are investing in research and development to create innovative lighting solutions. This includes the development of LED lamps with advanced features such as dimmability, color temperature control, and smart connectivity.
- The global lamps market size was estimated at USD 13.53 billion in 2022 and is expected to reach USD 14.10 billion in 2023. Read More
- The global lamps market is expected to grow at a compounded growth rate of 4.8% from 2023 to 2030 to reach USD 19.69 billion by 2030. Read More
- Desk Lamps dominated the market with a share of 55.1% in 2022. This is attributed to notable trends and advancements, reflecting the evolving needs...
- Some key players operating in market include Signify (Philips Lighting), OSRAM GmbH, Herman Miller Inc., Inter IKEA B.V., Artemide S.p.A., Pablo De...
- Key factors that are driving the market growth include, a growing focus on interior aesthetics and the desire to create visually appealing spaces h...
Trends in the market: One of the major trends in the Lamps & Lighting market is the adoption of smart lighting systems. These systems allow users to control and customize lighting...
Global Lighting Market Trends. LEDs have become the most popular lighting technology as they reduce energy consumption, come with better life expectancy, and are affordable in nature as compared to traditional lighting technologies. Moreover, they do not harm the environment like fluorescent or incandescent lamps.
- Categories
Statistics for the 2023 & 2024 Lamps And Lighting market trends, created by Mordor Intelligence™ Industry Reports. Lamps And Lighting trend report includes a market forecast to 2029 and historical overview.
One of the key trends in the lamps and lighting market is the adoption of LED technology. LED lighting solutions are highly energy-efficient, have a longer lifespan, and offer a wide...
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