[Latest] Global HID Ballast Market Size/Share Worth USD 7.5

Austin, TX, USA, Sept. 02, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “HID Ballast Market Size, Trends and Insights By Product (Electromagnetic HID Ballast, Electronic HID Ballast), By Application (Automotive, Residential, Commercial, Industrial, Outdoor), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand for global HID Ballast Market size & share was valued at approximately USD 4.2 Billion in 2022 and is expected to reach USD 4.5 Billion in 2023 and is expected to reach a value of around USD 7.5 Billion by 2032, at a compound annual growth rate (CAGR) of about 5.2% during the forecast period 2023 to 2032.”

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HID Ballast Market: Growth Factors and Dynamics

Energy Efficiency and Cost Savings: HID ballasts are used in lighting systems such as metal halide and high-pressure sodium lamps. These lamps are known for their high energy efficiency compared to traditional incandescent bulbs. HID ballasts help regulate the electrical current and voltage supplied to these lamps, enhancing their overall efficiency and contributing to cost savings for commercial, industrial, and outdoor lighting applications.

Industrial and Commercial Applications: HID lighting is widely used in various industrial and commercial settings, including warehouses, factories, sports arenas, and street lighting. The demand for HID ballasts in these applications is driven by the need for powerful and efficient lighting solutions with longer lifespans compared to conventional lighting technologies.

Outdoor Lighting: HID lamps with appropriate ballasts are often preferred for outdoor lighting due to their ability to provide high-intensity illumination over large areas. This includes applications like street lighting, parking lot lighting, and stadium lighting. HID ballasts play a crucial role in ensuring consistent and reliable lighting performance in these outdoor environments.

Automotive Headlights: HID ballasts are also used in automotive applications, particularly in high-intensity discharge headlights. These headlights offer improved visibility and safety for drivers, making them a popular choice in premium and luxury vehicles. The automotive sector’s focus on enhanced lighting performance and aesthetics has contributed to the demand for HID ballasts.

Shift Toward LED Lighting: Despite HID lighting’s advantages, there has been a growing shift towards LED lighting technology due to its even greater energy efficiency and longer lifespan. This transition has impacted the HID ballast market, leading to some challenges. However, there are still applications where HID lighting remains relevant and preferred.

Regulatory Standards and Environmental Concerns: Regulatory standards aimed at improving energy efficiency and reducing environmental impact have influenced the HID ballast market. As governments and organizations push for more sustainable lighting solutions, manufacturers have had to adapt their products to meet these standards. This has led to the development of more advanced electronic ballasts that comply with regulations and provide additional benefits like dimming capabilities and compatibility with smart lighting systems.

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HID Ballast Market: Recent Developments in the Market

Signify N.V. acquired Fluence Bioengineering, Inc.: In 2022, Signify entered into an agreement to acquire Fluence Bioengineering, Inc. from OSRAM Licht AG for approximately $270 million on December 20, 2021. The fluence team will be joining Signify N.V., This acquisition enhanced capabilities in specialized lighting applications, including HID ballasts for horticulture.

Acuity Brands and The Luminaires Group: In 2019, Acuity Brands acquired The Luminaires Group to diversify its product offerings. This acquisition brought together Acuity’s lighting solutions and The Luminaires Group’s expertise, which includes HID ballasts, to serve various market segments.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 4.5 Billion
Projected Market Size in 2032	USD 7.5 Billion
Market Size in 2022	USD 4.2 Billion
CAGR Growth Rate	5.2% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Product, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the HID Ballast report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the HID Ballast report has been modified to include the COVID-19 impact study prior to delivery.)

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HID Ballast Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the HID Ballast Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Supply Chain Disruptions: The HID ballast market, like many other industries, experienced disruptions in its supply chain due to factory closures, transportation restrictions, and labor shortages caused by the pandemic. This led to delays in production and distribution, affecting the availability of HID ballasts for various applications.

Shift in Demand and Priorities: The economic uncertainty caused by the pandemic prompted changes in demand patterns. With many commercial and industrial sectors experiencing slowdowns or shutdowns, the demand for new installations and replacements of HID lighting systems, and consequently HID ballasts, decreased. Businesses shifted their priorities toward essential expenses, impacting the adoption of new lighting technologies.

Resumption of Construction and Infrastructure Projects: As the pandemic’s impact lessens and economies recover, construction and infrastructure projects are expected to resume. This will lead to renewed demand for HID lighting systems, including ballasts, in commercial, industrial, and outdoor applications.

Rise in Retrofitting Activities: To cut costs and improve energy efficiency, businesses are likely to focus on retrofitting existing lighting systems with more efficient technologies, including HID lamps with electronic ballasts. Retrofitting allows for upgrades without the need for complete system replacements, presenting opportunities for the HID ballast market to rebound.

Advancements in Smart Lighting: The integration of HID lighting systems with smart lighting solutions can drive demand. Smart lighting technologies allow for remote control, monitoring, and energy optimization, making HID lighting more attractive for modern applications and helping the market recover.

Continued Demand for Premium Lighting Solutions: HID lighting is known for its high-intensity illumination and is often chosen for premium lighting applications. As economies recover, businesses and consumers seeking quality lighting solutions for automotive, outdoor, and specialized industrial applications may contribute to the recovery of the HID ballast market.

In conclusion, the COVID-19 pandemic has had a mixed impact on the HID Ballast Market, with some challenges and opportunities arising from the pandemic.

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Key questions answered in this report:

What is the size of the HID Ballast market and what is its expected growth rate?
What are the primary driving factors that push the HID Ballast market forward?
What are the HID Ballast Industry's top companies?
What are the different categories that the HID Ballast Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the HID Ballast market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the HID Ballast Market:

Philips Lighting Holding B.V. (Signify)
Osram Licht AG
GE Lighting (General Electric)
Acuity Brands Inc.
Venture Lighting International
Fulham Co. Inc.
Advance Transformer Co. (Philips Advance)
Hatch Lighting
IOTA Engineering LLC.
Universal Lighting Technologies (Panasonic Corporation)
Others

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Browse the full “HID Ballast Market Size, Trends and Insights By Product (Electromagnetic HID Ballast, Electronic HID Ballast), By Application (Automotive, Residential, Commercial, Industrial, Outdoor), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/hid-ballast-market/

HID Ballast Market – Regional Analysis

The HID Ballast Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: In North America, the HID ballast market trend is marked by a steady shift towards energy-efficient lighting solutions. Stringent energy regulations and a focus on sustainability drive the adoption of electronic HID ballasts and LED technology, particularly in commercial and residential applications. Additionally, the demand for smart lighting controls is on the rise, enhancing the market’s growth potential.

Europe: In Europe, the HID ballast market reflects a combination of energy efficiency and heritage preservation. Electronic HID ballasts gain traction due to their eco-friendliness, while traditional architectural projects drive demand for HID ballasts to maintain historical aesthetics in lighting. The convergence of modernity and tradition shapes the market’s evolution.

Asia-Pacific: The Asia-Pacific region experiences a dual trend. Rapid urbanization and infrastructure development propel the demand for HID ballasts in commercial and industrial applications. Simultaneously, the tech-savvy population fosters the adoption of smart lighting solutions, boosting demand for electronic HID ballasts. This region’s market is shaped by both traditional needs and futuristic aspirations.

Latin America, Middle East, and Africa (LAMEA): LAMEA sees a rise in infrastructure projects and a focus on energy-efficient solutions. HID ballasts find prominence in outdoor and industrial applications, capitalizing on high-intensity illumination needs. Economic growth and urban expansion further contribute to the market’s growth in this region. The interplay between economic development and modernization influences HID ballast demand.

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The HID Ballast Market is segmented as follows:

By Product

Electromagnetic HID Ballast
Electronic HID Ballast

By Application

Automotive
Residential
Commercial
Industrial
Outdoor

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Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This HID Ballast Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This HID Ballast Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the HID Ballast Market? What Was the Capacity, Production Value, Cost and PROFIT of the HID Ballast Market?
What Is the Current Market Status of the HID Ballast Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of the HID Ballast Market by Considering Applications and Types?
What Are Projections of the Global HID Ballast Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is HID Ballast Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On the HID Ballast Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are the Market Dynamics of the HID Ballast Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for the HID Ballast Industry?

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Reasons to Purchase HID Ballast Market Report

HID Ballast Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
HID Ballast Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
HID Ballast Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
HID Ballast Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global HID Ballast market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide HID Ballast market analysis.

The competitive environment of current and potential participants in the HID Ballast market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide HID Ballast market should find this report useful. The research will be useful to all market participants in the HID Ballast industry.
Managers in the HID Ballast sector are interested in publishing up-to-date and projected data about the worldwide HID Ballast market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in HID Ballast products' market trends.
Market insights are sought by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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