What is the present valuation and projected CAGR of the electric lighting equipment market?
The electric lighting equipment market size has grown strongly in recent years. It will grow from $128.38 billion in 2024 to $136.64 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to technological advancements, energy efficiency regulations, consumer awareness, urbanization, industrial growth.
The electric lighting equipment market size is expected to see strong growth in the next few years. It will grow to $168.55 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to sustainability initiatives, infrastructure projects, e-commerce and online sales. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
Get Your Free Sample of The Global Electric Lighting Equipment Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2120&type=smp
What key drivers have fueled the electric lighting equipment market’s development over the years?
The increasing adoption of LED lighting is expected to propel the growth of the electric lighting equipment market going forward. LED lighting refers to a type of lighting technology that uses light-emitting diodes (LEDs) as the source of illumination. LED lighting offers numerous benefits in the electric lighting equipment market including energy savings, durability, environmental friendliness, and design flexibility. For instance, in December 2022, according to E-Green Electrical, an Australia-based energy efficiency company, around 50% of all light sources worldwide are already LED lamps, and researchers estimate that by 2030, LEDs would make up about 87% of all light sources. Therefore, the increasing adoption of LED lighting is driving the growth of the electric lighting equipment market going forward.
What is the segmentation for the electric lighting equipment market?
The electric lighting equipment market covered in this report is segmented –
1) By Type: General Lighting, Automotive Lighting, Back Lighting
2) By Mode: Online, Offline
3) By Sales Channel: OEM, After market
4) By Application: Residential, Commercial, Automotive, Other Applications
Subsegments:
1) By General Lighting: LED Bulbs, Fluorescent Lamps, Incandescent Lamps, Compact Fluorescent Lamps (CFL), Halogen Bulbs, Smart Lighting
2) By Automotive Lighting: Headlights, Tail Lights, Fog Lights, Interior Lighting, Turn Signal Lights, Daytime Running Lights (DRLs)
3) By Back Lighting: LED Backlighting, OLED Backlighting, EL (Electroluminescent) Backlighting, CCFL (Cold Cathode Fluorescent Lamp) Backlighting
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/electric-lighting-equipment-global-market-report
Who are the most influential companies in the electric lighting equipment market?
Major companies operating in the electric lighting equipment market include Stanley Electric Co Ltd., Panasonic Corporation, Robert Bosch GmbH, Eaton Corporation plc, Acuity Brands Inc., OSRAM GmbH, Alstom SA, Toshiba Corporation, Hubbell Incorporated, LG Electronics, Liron Lighting LLC, Nichia Corporation, EiKO Global LLC, RAB Lighting Inc., MaxLite Inc., NaturaLED, Westgate MFG Inc., Hydrofarm Holdings Group Inc., Signify NV, Cree Inc., Technical Consumer Products Inc., Satco Products Inc., Feit Electric Company Inc., Prescolite Inc., Light Efficient Design Co. Ltd., Litetronics International Inc., Ledvance GmbH, Fulham Co. Inc., Keystone Technologies LLC, Venture Lighting International Inc., Halco Lighting Technologies LLC, American Lighting Inc., Nora Lighting Inc., Litecontrol Corporation, Sea Gull Lighting Products LLC, Kichler Lighting LLC.
What are the top industry trends projected to impact the electric lighting equipment market?
Major companies operating in electric lighting equipment market are focusing on innovative products such as smart light panels to provide reliable services to their customers. Smart light panels refer to a type of lighting technology that combines the benefits of traditional lighting fixtures with smart technology. For instance, in August 2023, GE Lighting, a US-based company that focuses on the design, manufacture, and distribution of electric lighting equipment launched new Cync smart hexagon light panels. The hexagonal panels can be controlled with the Savant-powered Cync mobile app and connect to Wi-Fi as a single smart light fixture without the need for a separate hub. This app can access pre-made light shows, make their own, or sync the panels to music. It is simple to use and intuitive.
What are the major regional insights for the electric lighting equipment market, and which region holds the top position?
Asia-Pacific was the largest region in the electric lighting equipment market in 2023. North America was the second largest region in the electric lighting equipment market. The regions covered in the electric lighting equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Electric Lighting Equipment Market Report 2025 Offer?
The electric lighting equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The electrical lighting equipment produces light for the electrical products. These are used for various household and other applications.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2120
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
