DUBLIN--(BUSINESS WIRE)--The "Plasma Lighting Market by Component (Lightron, Waveguide, and Cavity Resonator), Application (Roadways, Streets, and Tunnels Industrial, and Horticulture), Wattage (300W, 700W, and 1,000W), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Plasma Lighting Market is Expected to Grow at a CAGR of 4.7% from 2019 to 2024, to Reach USD 415 Million by 2024 from USD 329 Million in 2019
Increasing penetration of plasma lighting in horticulture and the growing popularity of indoor farming drives market growth
The requirement to carry out indoor farming is expected to increase across the globe, especially in the urban areas in the coming years.
According to the United Nations estimates, nearly 80% of the world's population is expected to reside in cities and metropolitan areas by 2050. The land available for cultivation is expected to be insufficient to meet the food demand of the urban population.
Moreover, the rise in the logistics costs is also likely to contribute to increased prices for fresh vegetables, owing to the growing distance between cities and farms. This, in turn, is likely to contribute to increased demand for indoor farms equipped with plasma lighting in cities, thereby fueling the growth of the plasma lighting market.
Industrial application to dominate in the plasma lighting market during the forecast period
The plasma lighting market, by application, is segmented into roadways, streets, & tunnels; industrial; sports & entertainment; horticulture; and others. Others include fixtures and marine lighting. The plasma lighting market for industrial application is expected to hold a dominant position throughout the forecast period. In industrial settings, safety is a primary concern, and proper and adequate lighting is a key factor to maintain high productivity of workers. The improper application of lighting can result in excessive light, leading to energy wastage. The industrial end-users can save on lighting expenses and conserve energy by using solid-state and other energy-efficient lighting systems such as LEP.
Europe to hold the largest share of plasma lighting market from 2019 to 2024
In terms of market size, Europe is expected to dominate the plasma lighting market during the forecast period and is likely to witness significant growth in the global market during the forecast period. The use of plasma lights for cultivation across the globe, especially, in Europe is leading to the growth of the horticulture segment of the plasma lighting market. The demand for horticulture plasma lighting systems is higher in countries with harsh winters/erratic climatic conditions as these lights enable crops to grow even in the absence of natural light/sunlight.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Plasma Lighting Market
4.2 Plasma Lighting Market, By Application
4.3 Europe Plasma Lighting Market, By Country and Application
4.4 Plasma Lighting Market, By Region
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Increasing Infrastructure Development Activities in Emerging Economies
5.1.1.2 Growing Number of Indoor Farms Equipped With Plasma Lighting Across the Globe
5.1.1.3 Increasing Demand for Energy-Efficient and Long-Lasting Lights
5.1.2 Restraints
5.1.2.1 High Initial Costs of Superior Quality and Energy-Efficient Plasma Lights
5.1.3 Opportunities
5.1.3.1 Replacement of Traditional Lights With Lep Deep Submergence Lights in Marine Applications
5.1.3.2 Legalization of Marijuana Cultivation in North America Resulting in Increased Number of Greenhouses Equipped With Plasma Lighting
5.1.4 Challenges
5.1.4.1 High Costs Involved in the Replacement of Traditional Lights With Plasma Lights
5.2 Value Chain Analysis
6 Plasma Lighting Market, By Application
6.1 Introduction
6.2 Roadways, Streets, and Tunnels
6.2.1 Increasing Demand for Energy Efficient Lighting is Expected to Propel Market in Roadways, Streets, and Tunnels
6.3 Industrial
6.3.1 The Industrial Application Accounted for a Major Share of the Market in 2018
6.4 Sports & Entertainment
6.4.1 By Using Plasma Lighting Solutions, Stadium Operators Can Reach an Efficient Operational Level With Least Energy Usage and Reap the Benefits of Reduced Bills.
6.5 Horticulture
6.5.1 The Demand for Horticulture Plasma Lighting Systems is Higher in Countries With Harsh Weather Conditions
6.6 Others
7 Plasma Lighting Components
7.1 Introduction
7.2 Lightron
7.2.1 Lightron is the Most Important Component of Plasma Lighting System
7.3 Waveguide
7.3.1 Waveguide is Used to Direct Microwaves Towards Cavity Resonator
7.4 Cavity Resonator
7.4.1 Cavity Resonator Minimizes External Rf Interference
7.5 Bulb Assembly
7.5.1 a Bulb is Rotated at a Constant Speed to Evenly Distribute the Plasma and Light
8 Plasma Lighting Wattage (300w, 700w, 1,000w)
8.1 Introduction
8.2 300w
8.2.1 Well-Lit Roadways are Preferable to Prevent Accidents
8.3 700w
8.3.1 Increasing Concerns for Saving Energy Have Led to the Establishment of Stringent Regulations
8.4 1,000w
8.4.1 Plasma Lighting Systems Make Stadiums More Energy Efficient and Save Money
9 Plasma Lighting Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US is Projected to Lead North America Plasma Lighting Market From 2019 to 2024
9.2.2 Canada
9.2.2.1 Promotion of Energy-Efficient Lights is Fueling Growth of Plasma Lighting Market in Canada
9.2.3 Mexico
9.2.3.1 Generation of Renewable Electric Power and Increased use of Energy-Efficient Lighting is Contributing to Growth of Plasma Lighting Market in Mexico
9.3 Europe
9.3.1 UK
9.3.1.1 Increased Awareness for Energy Conservation is Leading to Growth of Market in UK
9.3.2 Germany
9.3.2.1 Rise in Number of Infrastructure Development Projects is Fueling Growth of Market in Germany
9.3.3 the Netherlands
9.3.3.1 Increased use of Plasma Lights in Horticulture Applications is Contributing to Growth of Market in the Netherlands
9.3.4 France
9.3.4.1 Emphasis on Reducing Energy Consumption is Leading to Growth of Market in France
9.3.5 Italy
9.3.5.1 Increased Focus on Reducing Emissions of Greenhouse Gases is Fueling Growth of Market in Italy
9.4 Asia Pacific (APAC)
9.4.1 China
9.4.1.1 Increased Investments in Manufacturing Sector are Leading to Growth of Plasma Lighting Market in China
9.4.2 Japan
9.4.2.1 use of Plasma Lights for Indoor Farming is Contributing to Growth of Market in Japan
9.4.3 South Korea
9.4.3.1 Formulation of Stringent Standards for the Development of Energy-Efficient Lights is Contributing to Growth of Market in South Korea
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis: Plasma Lighting Market
10.3 Competitive Leadership Mapping
10.4 Competitive Situations and Trends
11 Company Profiles
Key Players
- Luma Group (Luxim)
- Ceravision
- Hive Lighting
- Ka Shui International Holdings
- Green De Corp
- Gavita
- FusionLux
- Griffin & Ray
- Guangzhou Kaiming Industries
- BIRNS
Other Ecosystem Players
- Ningbo Aishi Electric Equipment
- Solaronix
- Rfhic Corporation
- Ferarf
- Jofam Srl
Start-Up Ecosystem Players
- Pinkrf
- Ampleon
- Pure Plasma Lighting
- Lhv Energy
- Pandora Green
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