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General Lighting Global Market Report 2023: A $119.85 Billion Market by 2027 - Long-term Forecast to 2032
Global General Lighting Market
Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "General Lighting Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
Major players in the general lighting market are Schneider Electric, Panasonic, Koninklijke Philips N.V., GENERAL ELECTRIC, Acuity Brands, Cree Inc., Eaton, Bridgelux, and Citizens Electronics.
The global general lighting market will grow from $87.74 billion in 2022 to $93.93 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The general lighting market is expected to grow to $119.85 billion in 2027 at a CAGR of 6.3%.
The general lighting market consists of sales of chandeliers, ceiling or wall-mounted fixtures, recessed or track lights, lanterns mounted, wall lighting, spotlights, post lanterns, recessed fixtures, hanging fixtures, and other general lighting.
Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
General lighting or ambient lighting is defined as a lighting system used to lighten indoor and outdoor areas with sufficient or natural brightness without any glare. They are cost-effective, have less energy, and beautify the ambiance.
Asia Pacific was the largest region in the general lighting market in 2021. North America was the second-largest region in the general lighting market. The regions covered in the general lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of general lighting are LED, CFL, LFL, HID, halogens, incandescent, and others. The incandescent light bulb generates light by heating a wire filament to a temperature that causes light to be produced. A translucent glass bulb, either filled with inert gas or evacuated, surrounds the metal wire (a vacuum). The various applications include general lighting, automotive lighting, backlighting, and others that are used by residential, commercial, outdoor, industrial, and other end-users.
The continuous increase in the rate of construction activities increases the demand for general lighting globally. Lighting equipment is required in office spaces and apartments 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 color. 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 restrict the growth of the general lighting market.
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.
In 2020, Philips Lighting, a Netherland-based electrical provider, launched an Internet of Things (IoT) platform and connected lighting system. LEDs and sensors are used in LiFi technology to wirelessly transmit data to computers and tablets via light waves.
In February 2022, GE Current, a US-based company operating in lighting acquired Hubbell C&I Lighting for an undisclosed amount. Through this acquisition, both companies enhance distribution footprint and digital tools to serve customer needs more quickly, efficiently, and easily. Hubbell C&I Lighting is a US-based company operating in general lighting.
Key Metrics
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2023 - 2027 |
Estimated Market Value (USD) in 2023 | $93.93 billion |
Forecasted Market Value (USD) by 2027 | $119.85 billion |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |
A selection of companies mentioned in this report includes
Schneider Electric
Panasonic
Koninklijke Philips N.V.
GENERAL ELECTRIC
Acuity Brands
Cree Inc.
Eaton
Bridgelux
Citizens Electronics
OSRAM
Selux Corp
Zumtobel Group AG
Signify Holding
Wipro Lighting
Hafele
Hubbell
Amerlux
Decon Lighting Pvt. Ltd.
3G Lighting
NICOR Lighting
Axis Lighting
Louis Poulsen
Vantage Lighting
v2 Lighting Group
SPI Lighting
Key Topics Covered:
1. Executive Summary
2. General Lighting Market Characteristics
3. General Lighting Market Trends And Strategies
4. General Lighting Market - Macro Economic Scenario
4.1 COVID-19 Impact On General Lighting Market
4.2 Ukraine-Russia War Impact On General Lighting Market
4.3 Impact Of High Inflation On General Lighting Market
5. General Lighting Market Size And Growth
5.1. Global General Lighting Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global General Lighting Forecast Market, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F, $ Billion
LED
CFL
LFL
HID
Halogens
incandescent
Other Product Types
6.2. Global General Lighting Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Residential
Commercial
Outdoor
Industrial
Other End-Users
6.3. Global General Lighting Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
General Lighting
Automotive Lighting
Backlighting
Other Applications
7. General Lighting Market Regional And Country Analysis
7.1. Global General Lighting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global General Lighting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/y5oxwm
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