Albany, NY -- (SBWire) -- 01/24/2018 --The demand in the global lighting product market is projected to expand at a CAGR of 10.4% during the forecast period from 2017 to 2025. In terms of revenue, the opportunities in this market translated into US$ 113,046.0 Mn in 2015, with a volume of 1,509 mn units. Going forward, the valuation of the market is estimated to swell up to US$296,230.7 mn by 2025. Escalating demand for LED lighting as a result of rapid urbanization and development of smart cities, government support for energy-efficient methods, reduced cost of LED, and growing adoption of these products for residential purposes are some of the key factors driving the global lighting product market.
Owing to depleting resources of fossil fuel, escalating pollution concerns, and slow emergence of renewables, the usage of energy in an efficient manner has emerged as a key trend that is engulfing almost every industry. Governments across the world are resorting to advanced systems that can ensure appropriate utilization of energy and consequently, the demand in the global lighting product is increasing.
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Global Lighting Product Market: Overview
This report on the global lighting product market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global lighting product as a service market growth during the said period. Technologies that are playing a major role in driving the global lighting product market have also been covered in the study. The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of revenue estimates (in US$ Mn), across different geographies.
Global Lighting Product Market: Segmentation
The global lighting product market has been segmented on the basis of component, application, and geography. The global lighting product market is divided into standalone type and lighting fixture. Standalone type is further classified into LED tubes and bulbs, T8 LED bulbs & tubes and others. Lighting fixture type is bisected into ceiling fixture, recessed lighting fixture, strip light fixture and others. The global lighting product market is bifurcated on the basis of application such as residential, commercial, industrial and outdoor. Residential application includes table lamp, floor lamp, desk lamp, and others. Outdoor application includes street lights, parking garage, landscape etc.
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Global Lighting Product Market: Regional Analysis
Geographically, the report classifies the global lighting product market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of revenue generation. Furthermore, region wise prominent countries covered in the report include the following - the U.S, Canada, Germany, France, U.K., China, India, Japan, GCC, South Africa and Brazil.
Global Lighting Product Market: Key Research Aspects
The report also includes key developments in the lighting product market form 2006 onwards. Porter Five Force analysis which identifies bargaining power of supplier, bargaining power of buyer, threat from new entrant, threat from substitute and threat from competition in lighting product market is also included in the report. Value Chain analysis which identifies key stake holders in the lighting product market is also covered in the report. The report also covers segment wise comparison matrix, market attractiveness analysis and market share analysis for all regions covered in the scope of study.
Comparison matrix includes segment growth matrix, 2017 - 2025 (%), segment revenue contribution, 2017 - 2025 (%), and segment compounded growth matrix (CAGR %). Market attractiveness identifies and compares segments market attractiveness on the basis of CAGR and market share index.
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The report also includes competition landscape which include competition matrix, market share analysis of major players in the global lighting product market based on their 2016 revenues and profiles of major players. Competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to company's capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company's potential to grow. This section also identifies and includes various recent developments carried out by the leading players.
Global Lighting Product Market: Competitive Landscape
Company profiling includes company overview, major business strategies adopted, SWOT analysis and market revenues for year 2014 to 2016. The key players profiled in the global lighting product as a service market include Koninklijke Philips N.V., GE Lighting (General Electric), OSRAM Licht AG, Panasonic Corporation, Azoogi LED Lighting, Bulbs.com, The Home Depot Inc., Wal-Mart Stores Inc., Bed Bath & Beyond Inc., Sam's West Inc. Costco Corporation.
The global lighting product market is segmented as below:
Global lighting product Market, By Component
Standalone Type
LED Tubes and Bulbs
T8 LED Bulbs & Tubes
Others (Incandescent, Discharge Tube etc.)
Lighting Fixture
Ceiling Fixture
Recessed Lighting Fixture
Strip Light Fixture
Others (Chandeliers, pendants etc.)
Global lighting product Market, By Application
Residential
Table Lamp
Floor Lamp
Desk Lamp
Others
Commercial
Industrial
Outdoor (Street Lights, Parking Garage, Landscape, etc.)
Global lighting product Market, By Geography
North America
The U.S.
Canada
Rest of North America
Europe
Germany
France
The U.K
Rest of Europe
Asia Pacific (APAC)
India
Japan
China
Rest of APAC
Middle East and Africa (MEA)
GCC
South Africa
Rest of MEA
South America
Brazil
Rest of South America
Lighting Product Market to Close-in on a Valuation of 300 Bn by 2025
Lighting products such as LED tubes and bulbs are now used for various commercial and residential purposes, particularly since the recent past when the technology has the paved way for lowered and affordable prices of these products.