2014-02-18 19:43:02 - Global Lighting Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Lighting market is to grow at a CAGR of 5.35 percent CAGR over the period 2012-2016. One of the key factors contributing to this market growth is the increasing number of households worldwide. The Global Lighting market has also been witnessing an increasing penetration of LEDs in the market. However, the increasing regulatory intervention by the governments could pose a challenge to the growth of this market.
The market is witnessing rapid advancements in lighting technologies. For instance, in the Residential sector, CFL, incandescent, and halogen lighting technologies are currently dominating the market in terms of revenue contribution. However, it is expected that LEDs will emerge as the major revenue contributor in the Residential sector during the forecast period.
The technological transition in the market is trending toward product enhancements aimed at better efficiency and power-saving capabilities. These technological transitions in the market will also force vendors to be more responsive to the technological changes that customers need. Thus, rapid technological advancements are expected to have a positive influence on the growth of the Global Lighting market.
One of the main drivers in this market is the increasing number of households with lighting requirements. The rise in the number of households is expected to increase the demand for new lighting source installations, thereby propelling the growth of the Global Lighting market during the forecast period. Thus, the Residential sector is a major revenue contributor in the market.
One of the key challenges in this market is the stringent regulations by the governments in various countries which ban the use of incandescent lighting sources. The governments in many countries are increasingly adopting energy-efficient lighting technologies in order to reduce power consumption. As a result, sales of incandescent lamps will drastically reduce during the forecast period, thereby having a negative impact on the vendors and on market growth.
The key vendors dominating this market space are Koninklijke Philips Electronics N. V., OSRAM Sylvania Inc., General Electric Co., Zumtobel Lighting GmbH, and Panasonic Corp. The other vendors mentioned in the report are Bridgelux Inc., Cree Inc., Konica Minolta Holdings Inc., Lemnis Lighting B. V., Luminus Devices Inc., Lumiotec, Luxim Corp., Nichia Corp., Samsung Electronics Co. Ltd., SemiLEDs Corp., Seoul Semiconductor Co. Ltd., and Universal Display Corp.
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