- Size, Trend, Share, Opportunity Analysis, and Forecast 2014-2025
Global Energy Efficient Lighting Market is expected to grow at a CAGR of 13.1% from 2017 to 2025. Electric lighting is a major energy consumer, which can be reduced by employing energy efficient lighting. Using energy efficient lighting not only consumes less energy but also reduces the heat radiated thus saving air-conditioning energy and improving thermal comfort. High-intensity discharge lamps (HID), linear fluorescent lamps (LFL), and light emitting diodes (LED) consume less energy as compared with incandescent light bulbs. According to a report published in Energy.Gov, LEDs are 67 times more energy efficient than conventional incandescent lights, reduce energy usage by more than 80%, and have an average life of 25,000 hours. In 2012, around 49 million LED lights were installed in the U.S., which saved an estimated amount of $675 million in annual energy costs. Thus, LED has revolutionized energy efficient lighting thereby making it a leader in the market.
The global energy efficient lighting market is segmented based on lighting source, end-user industry, and geography. Based on lighting source, the market is divided into high-intensity discharge lamps (HID), linear fluorescent lamps (LFL), light emitting diodes (LED), and others. According to end-user industry, it is categorized into office, retail, education, healthcare, hotels & restaurants, warehouse, residential, transport, and others. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
The top players in the global solar energy market include Bajaj Electricals Ltd., Cree, Inc., Dialight Plc., Digital Lumens, Inc., Eaton Corporation Plc., General Electric Company, Honeywell International Inc., OSRAM GmbH, Philips Lighting Holding B.V., and Toshiba Lighting & Technology Corporation.
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