Dublin, July 14, 2021 (GLOBE NEWSWIRE) -- The "General Lighting Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
General Lighting Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global general lighting market as it emerges from the COVID-19 shut down.
The global general lighting market is expected to grow from $99.44 billion in 2020 to $102.97 billion in 2021 at a compound annual growth rate (CAGR) of 3.5%.
Major players in the general lighting market are Schneider Electric, Panasonic, Koninklijke Philips N.V., General Electric, Acuity Brands, Cree, Inc., Eaton, Bridgelux, Citizens Electronics are and Osram.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $140.71 billion in 2025 at a CAGR of 8%.
The general lighting market consists of sales of ambient lighting and related services used for lighting indoors of a household, commercial, institutional sites. General lighting includes chandeliers, ceiling or wall-mounted fixtures, recessed or track lights and lanterns mounted on the outside of the home. It also includes wall lighting, spotlights, post lanterns, recessed fixtures, and hanging fixtures used in hanging structures.
The continuous increase in the rate of construction activities increases the demand for general lighting globally. Lighting equipment is required in office spaces and apartment and with increasing construction activities, the requirement for such lighting also increases. According to a report by Global Construction Perspectives and Oxford Economics, the global construction market is forecast to grow by over 70% by 2025. The increase in demand for construction activities will have a positive impact on the growth of the general lighting market.
The general lighting market is restricted due to the harmful effects of LEDs (Light Emitting Diode) on human health. LEDs use shortwave light, often called "cool" in colour. The prolonged continuous exposure to this light may be enough to damage a person.
According to the French Agency for Food, Environmental and Occupational Health & Safety (ANSES), the blue lights which are being used in households, offices, headlights, torches, toys and street lighting can damage the eye's retina while disturbing biological and sleep rhythms. Due to these harmful effects, the ANSES recommended manufacturers of lighting solutions for vehicles to limit the luminous intensity of vehicle headlights. The harmful effects of LEDs on health thereby restricts the growth of the general lighting market.
The general lighting market covered in this report is segmented by product type into LED, CFL, LFL, HID, halogens, incandescent, others. It is also segmented by the end user into residential, commercial, outdoor, industrial, others.
Companies are increasingly using Li-fi (Light Fidelity) network to manufacture general lighting equipment. Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission with speeds up to 224 gigabits per second. Keeping up with the trend, in 2018, VLNComm, a USA based provider of Li-Fi technology, launched its LumiNex LED panel. LumiNex LED panel is a Li-Fi-enabled general lighting luminaire that is capable of providing 108Mbps download speed. In 2018, Philips, a Netherland based electrical provider, announced its own Li-Fi platform. The platform is being used by a French real estate investment company Lcade.
In 2019, Ideal Industries Inc., a U.S based producer of the electrical and telecommunications components, acquired Cree, Inc. for $310 million. The acquisition involved Ideal Industries control of Cree's LED lighting fixtures, lamps and intelligent lighting control solutions. The acquisition will help Ideal industries to enrich its product line offerings. Cree Inc. is a U.S based manufacturer and marketer of lighting-class LEDs, lighting products and products for power and radio frequency applications.
Key Topics Covered:
1. Executive Summary
2. General Lighting Market Characteristics
3. General Lighting Market Trends and Strategies
4. Impact of COVID-19 on General Lighting
5. General Lighting Market Size and Growth
5.1. Global General Lighting Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global General Lighting Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. General Lighting Market Segmentation
6.1. Global General Lighting Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global General Lighting Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global General Lighting Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. General Lighting Market Regional and Country Analysis
7.1. Global General Lighting Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global General Lighting Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Koninklijke Philips N.V.
Zumtobel Group AG
Decon Lighting Pvt. Ltd.
v2 Lighting Group
For more information about this report visit https://www.researchandmarkets.com/r/aabdn0
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