“Rising demand for energy-efficient lighting technologies expected to drive the solid-state and other energy-efficient lighting market”
The solid-state and other energy-efficient lighting market is expected to be valued at USD 174.45 billion by 2022, growing at a CAGR of 5.38% between 2016 and 2022. The market growth can be attributed to several factors such as rising demand for energy-efficient lighting technologies, increased awareness about environment-friendly lighting systems, and increased adoption of advanced lighting technologies in various developing countries such as India, China, and South Korea.
“Market for solid-state lighting expected to grow at a high rate in terms of market size”
The market for solid-state lighting is expected to grow at the highest CAGR between 2016 and 2022. The solid-state lighting technology has the potential for enormous energy savings accompanying environmental benefits; hence, it is being promoted globally. The U.S. Department of Energy (DOE) is promoting solid-state lighting technologies for general-purpose illumination to achieve its long-term goal of increasing the efficiency of energy consumption in the U.S.
“APAC expected to hold the largest share of the market during the forecast period”
The solid-state and other energy-efficient lighting market in APAC held the first position in 2015 in terms of revenue, and the trend is expected to continue during the forecast period. Countries such as India and China are the emerging markets for solid-state and other energy-efficient lighting as there is more scope of expansion in these countries than the matured countries, namely, the U.S., Germany, and the U.K. The growing industrialization and construction projects are expected to drive the market in this region.
Breakdown of primary participants:
- By Company Type: Tier 1?55%, Tier 2?20%, and Tier 3?25%
- By Designation: C-Level Executives?57%, Directors?29%, and Others?14%
- By Region: North America?37%, Europe?34%, APAC?20%, and RoW?9%
Some of the key players operating in the overall solid-state and other energy-efficient lighting market are OSRAM Licht AG (Germany), Royal Philips Electronics N.V. (Netherlands), Seoul Semiconductor Co., Ltd. (South Korea), General Electric Company (U.S.), Nichia Corporation (Japan), AIXTRON SE (Germany), Applied Materials, Inc. (U.S.), Applied Science and Technology Research Institute Company Limited (Hong Kong), Bridgelux, Inc. (U.S.), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), Advanced Lighting Technologies, Inc. (U.S.), Energy Focus, Inc. (U.S.), Intematix Corporation (U.S.), LED Engin, Inc. (U.S.), Toyoda Gosei Co., Ltd. (Japan), TCP International Holdings Ltd. (Switzerland), Topanga Technologies, Inc. (U.S.), Ceravision Ltd (U.K.), and Bright Light Systems, Inc. (Georgia).
In this report, various segments such as technology, installation type, application, offering, and geography have been covered. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW. Porter’s five forces analysis has been included in the report, along with the description of each of its forces and their impact on the market.
Reasons To Buy the Report:
- This report includes statistics pertaining to the solid-state and other energy-efficient lighting market by technology, installation type, application, offering, and geography, along with their respective market size.
- Porter’s five forces analysis and value chain analysis have been provided for the market.
- Major drivers, restraints, opportunities, and challenges for the solid-state and other energy-efficient lighting market have been provided in detail in this report.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem and the recent development strategies adopted by the key players in the market such as new product launches and developments, partnerships, and mergers and acquisitions.