Energy Efficient Lighting Market Analysis | 2021-2026

Market Insights

The Energy Efficient Lighting Market is estimated to grow from USD 2.9 billion in 2020 to USD 4.2 billion by 2026 at a healthy CAGR of 6.4% during the forecast period.

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What is energy-efficient lighting?

Energy-efficient lighting helps to minimize the electricity demand and is a cost-effective method of lighting system when compared to conventional lighting methods. This lighting offers brighter illumination by using less energy. It is a substitute for conventional lamps, which waste energy in terms of heat and power.

Key Players

Key players operating in the energy-efficient lighting market are-

• ABB (Switzerland)
• Eaton (Ireland)
• General Electric (US)
• Philips (Netherlands)
• Toshiba Corporation (Japan)
• Advanced Lighting Technologies Australia Inc. (Australia)
• Schneider Electric (France)
• NICHIA CORPORATION (Japan)
• Digital Lumens, Inc. (US)
• Bridgelux (US).

Market Dynamics

Growing technological up-gradation in the lighting system not only provides energy efficiency but also offers extra benefits such as ventilation, light ambiance, and warmth. In addition, these lighting devices add aesthetic beauty to the house and reduce the need for artificial heating and cooling, which boosts product demand. Moreover, these lighting devices also reduce the requirement need, which offers immense opportunities to the market players in the coming years.

COVID-19 Impact

The COVID-19 outbreak has moderately affected the energy-efficient lighting industry. Rising coronavirus cases across the globe resulted in stringent social distance and lockdown norms across the globe, which led to supply chain disruption, thus affecting the product demand. The coronavirus pandemic has created a decline in the need for energy-efficient lighting in the residential sector. In addition, the industrial operations were affected due to a temporary halt and limited workforce, which further affected the industry growth.

Segment Analysis

Product Trends

The energy-efficient lighting market is classified into fluorescent lamps, compact fluorescent lamps, LED lamps, high-intensity discharge lamps, and induction lamps. The LED lamps segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to several benefits of using LEDs, when compared to other types of lights such as its long life, high energy efficiency, low radiated heat, high intensity & brightness, reliability, and many others, which boosts the segment growth.

Regional Analysis

The European market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to the strong presence of leading product manufacturers, stringent energy efficiency regulations, as well high consumption of energy in residential and industrial applications. Also, the rising need for Energy Performance Certificates which require commercial spaces to adhere to energy-efficient requirements and processes further proliferates the regional market growth.

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Target Audience

Here is the list of the group of customers that the energy-efficient lighting market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].