Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "Electric Lighting Equipment Market: Size, Trends, Opportunities and Forecast by Product Type, Application, Installation Type, Region, and Country 2020-2030" report has been added to ResearchAndMarkets.com's offering.
This report highlights different factors and opportunities prevailing in the Global Electric Lighting Equipment Market. According to the report, the Global Electric Lighting Equipment Market was valued at USD 110.01 million in 2023, and is expected to grow at a CAGR of 8.43% during 2025-2030.
The market is growing steadily due to increasing urbanization, technological advancements, and the rising demand for energy-efficient lighting solutions. This market includes a wide range of lighting products, such as bulbs, lamps, and fixtures for residential, commercial, and industrial applications. The transition to LED lighting and the integration of smart lighting systems are key trends driving the market.
Key drivers include the global shift towards sustainable and energy-efficient lighting, government initiatives promoting the use of energy-saving solutions, and advancements in lighting control systems. The increasing popularity of smart cities and smart homes, which rely on intelligent lighting systems, is further accelerating market growth.
Technological advancements in LED lighting, IoT-enabled lighting systems, and wireless lighting control solutions are transforming the market. Consumers and businesses are increasingly adopting these solutions to reduce energy consumption and optimize lighting according to specific needs.
Asia-Pacific leads the Electric Lighting Equipment market, driven by rapid urbanization, increasing infrastructure development, and government support for energy-efficient lighting in countries like China, India, and Japan. Americas and Europe remain significant markets, owing to the adoption of smart lighting and sustainability initiatives.
Market Segmentation
By Product Type:
- General Lighting
- Specialty Lighting
- Backlighting
- Automotive Lighting
- Other Product Types
By End-User:
- Residential
- Commercial
- Industrial
- Other Applications
By Product Type:
- Retrofit
- New Installation
By Geography
- Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
- Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia-Pacific)
- Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)
Key Companies
The report assesses the competitive developments, strategies, mergers and acquisitions and new product development and market share portfolio of top 15 companies. Key companies in the Global Electric Lighting Equipment include:
- Acuity Brand, Inc.
- Stanley Electric Co Ltd.
- TOSHIBA CORPORATION
- NICHIA CORPORATION
- OSRAM GmbH
- Eaton Corporation PLC
- GENERAL ELECTRIC
- Everlight Electronics Co. Ltd.
- Hubbell Inc.
- Signify Holding
- Other Leading Companies
Reasons to buy this report:
- In-Depth Comparative Assessment of Top 20 Markets in the Electric Lighting Equipment Market Application: Comparative assessment of 20 leading countries highlighting the total addressable market, opportunities, lucrative segments and competitive positioning of leading companies.
- Comprehensive Historical, Present, and Future Analytics of the Electric Lighting Equipment Market: A deep dive in the historical (2020-2023), current (2024) and forecast (2025-2030) market analytics of Electric Lighting Equipment Market.
- Detailed Analysis of Electric Lighting Equipment Market By Product Type, Application, and Installation Type Across 20 Countries.
- Gain insights specific to new entrants or new market areas to tap: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, and challenges and product positioning using the Opportunity Portfolio Matrix (OPM).
- Strategic Application Movements: Tracking Competitive Developments and Key Players in the Market: The report covers competitive strategies, mergers & acquisitions, new developments, future plans and market share analysis of ~15 top companies.
For more information about this report visit https://www.researchandmarkets.com/r/q74xa7
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