Lamp Market Is Projected to Reach 18 Billion USD by 2024: Key Players Are GE, Havells India Ltd, Federal-Mogul Powertrain, Panasonic, Philips, Toshiba
Lamp Market will surpass USD 18 billion by 2024. Lamps are required in a wide variety of applications such as residential, hospitality, commercial, roadways, etc. Government initiatives for increasing lighting facilities in rural areas have increased the overall lamp market demand. The usage of CFLs has increased in commercial and residential sectors as they have replaced incandescent bulbs that are banned in most regions owing to the excessive mercury content.
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