Energy Efficient Lamps Shine Light on Environmental Sustainability
London, England -- (SBWIRE) -- 05/04/2012 -- Energy efficient lighting is becoming increasingly important as an immediate solution to rising electricity consumption, with the increasing compatibility of Compact Fluorescent Lamps (CFL) with existing lighting infrastructure spurring sales, according to a new report by business intelligence company GlobalData.
The new report* found that the CFL market will flourish over the next few years, due to a steep rise in the market for new lamps and for replacements.
Lighting appliances consume approximately 19% of total generated electricity. Environmental concerns and government awareness programs drive the CFL market, as the need to decrease emissions has compelled countries to look for clean technologies.
North America consumes the largest amount of electricity for lighting globally, followed by Europe. Many governments of countries within these regions have initiated awareness programs to lower the financial and environmental implications of their energy usage, and energy efficient lighting solutions such as CFLs are addressing these issues.
The need for efficient power consuming technologies has also boosted the sales of CFLs in many developing countries, proving that the technology is attractive at all economic levels. The global market for CFLs is therefore increasing with the adoption of energy efficient lighting.
The phase-out of inefficient lamps drove CFL unit sales throughout 2006-2010, and the continuation of this phase-out until 2014 is expected to support the CFL market in the future.
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The replacement market is expected to increase its contribution in total CFL sales during the forecast period, due to the growing use of CFLs worldwide. In 2010, the replacement market consisted of around
40% of total CFL sales, but by 2020, much of the world will have already adopted this technology, and so over 85% of sales will stem from the lamp replacement market.
Favorable legislation, rising energy demand, and environmental concerns are major market drivers. However, market growth is still inhibited by a lack of uniform standards, lack of awareness among consumers, hazards in waste disposal, and the expensiveness of CFL products. If these issues are overcome, the growth of the CFL market could soar.
The global CFL market size increased from $6.82 billion in 2006 to $9.44 billion in 2010 at a CAGR of 8.4%. Revenue from CFL sales is expected to increase by about 4% over the next ten years to reach approximately $14 billion by the end of 2020.
This report provides an understanding of the technology, key drivers and challenges in the global CFL market. It provides detail overview on CFL technology, which includes key features and basis of CFL classification, and provides historical (2006-2010) and forecast data to 2020 for CFL unit sales, average price per unit, and market size for global and key countries such as the US, Canada, Brazil, Mexico, Germany, the UK, China and Japan. The research provides a brief overview of major companies such as GE Lighting, LLC, Osram GmbH and Philips Lighting at a global level. Key countries section in the report also covers key regulations supporting the CFL market development and a market index, which compares a country’s CFL market based on certain parameters.
The report is built using data and information sourced from primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.
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