Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Global Arc-based Plasma Lighting Market by Light Source (Xenon Arc Lamps, Metal Halide Lamps, Deuterium Lamps, Krypton Arc Lamps, Mercury Vapor Lamps), Wattage Type (Below 500 W, 501 to 1500 W, Above 1500 W), Application and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global arc-based plasma lighting market is projected to grow from USD 616 million in 2024 to USD 676 million by 2029, registering a CAGR of 1.9% during the forecast period
The arc-based plasma lighting market is driven by several key factors that contribute to its growing adoption across diverse industries. Its superior light quality, characterized by excellent color rendering capabilities and high brightness, makes it a preferred choice for applications where precise illumination is paramount, such as automotive lighting, medical lighting, and UV applications. 
The xenon arc lamps segment is expected to hold the largest share in the overall arc-based plasma lighting market.
The Xenon arc lamps segment within the arc-based plasma lighting industry is anticipated to sustain its dominant position in the market. This is attributed to its exceptional blend of features and widespread utility across diverse sectors. Xenon arc lamps are known for their capacity to emit light resembling natural sunlight, making them indispensable in applications demanding precise color rendering such as automotive lighting and cinema projection.
Moreover, their high luminosity renders them suitable for outdoor lighting in large venues. The established reliability and extended lifespan of Xenon arc lamps further solidify their appeal across industrial and commercial domains. Additionally, ongoing advancements in Xenon arc lamp technology bolster their competitive edge within the market.
The UV applications segment is projected to grow at a significant growth rate during the forecast period.
The UV applications segment is expected to experience the highest CAGR, driven by various factors. There is a growing emphasis on health and safety in response to recent global events, intensifying the need for effective disinfection solutions across various industries. UV lighting has proven highly effective in deactivating pathogens like bacteria and viruses, making it essential for sterilization in healthcare facilities, food processing plants, and public spaces.
Furthermore, advancements in UV technology have spurred the development of more efficient and cost-effective plasma-based UV lighting systems, expanding their usage across a broad spectrum of industries. With organizations placing increased importance on hygiene and sanitation, the demand for UV applications is projected to escalate, thereby fueling substantial growth in the arc-based plasma lighting market.
India is likely to exhibit highest CAGR in the Asia Pacific arc-based plasma lighting market during the forecast period
India is expected to exhibit the highest growth rate in the market due to several significant factors. The increasing demand for advanced lighting solutions in the medical sector, particularly for surgical and diagnostic applications, is driving the adoption of arc-based plasma lighting. Additionally, the entertainment & projection industry in India is witnessing rapid growth, creating a substantial market for plasma lighting in theaters, concerts, and events.
Moreover, the country's expanding infrastructure for entertainment venues and increasing consumer spending on leisure activities further contribute to the market's growth. Moreover, the automotive industry's growing need for precise and reliable lighting solutions for testing purposes also drives the adoption of arc-based plasma lighting technology in the country.
The major companies in the arc-based plasma lighting market include ams-OSRAM AG (Germany), Signify Holding (Netherlands), Ushio Inc. (Japan), Excelitas Technologies Corp. (US), Hamamatsu Photonics K.K. (Japan), LEDVANCE GmbH (Germany), Newport Corporation (US), Superior Quartz Products, Inc. (US), Amglo Kemlite Laboratories (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 232 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $616 Million |
| Forecasted Market Value (USD) by 2029 | $676 Million |
| Compound Annual Growth Rate | 1.9% |
Companies Featured
- Ushio Inc.
- Ams-Osram AG
- Excelitas Technologies Corp.
- Signify Holding
- Hamamatsu Photonics K.K.
- Ledvance GmbH
- Advanced Specialty Lighting
- Amglo Kemlite Laboratories, Inc.
- Superior Quartz Products, Inc.
- Newport Corporation
- Venture Lighting International
- Thorlabs, Inc.
- Sciencetech
- Cole-Parmer Instrument Company, LLC
- Litetronics
- Larson Electronics
- Advanced Strobe Products, Inc.
- Agilent Technologies, Inc.
- Quantum Design Inc.
- Helios Quartz Group
- Applied Photon Technology, Inc.
- Advanced Radiation Corporation
- Dymax
- Jelight Company Inc.
- Blc International, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/j0o1aa
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