LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global general lighting market since 2016 and the market is poised to grow by USD 30.5 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request Free Sample Pages
Read the 120-page research report with TOC on "General Lighting Market Analysis Report by Product (LED lighting and Traditional lighting), Application (Residential, Commercial, Outdoor, Industrial, and Others), Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024."
The declining manufacturing cost of LEDs and growing number of households and urbanization is anticipated to boost the growth of the market.
The manufacturing cost of LEDs is decreasing and will continue to decline further during the forecast period due to the reduced ASP of chips and components used in the manufacture of LED devices. Also, metal-organic chemical vapor deposition (MOCVD) are increasingly being preferred in the manufacturing process of LED devices as governments are providing subsidies on the purchase of this semiconductor equipment. This is encouraging LED manufacturers to expand their LED production capacities to cater to the growing demand for LED lighting across several application segments. Thus, the overall decline in the manufacturing cost of LEDs is expected to drive market growth during the forecast period.
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Major Five General Lighting Market Companies:
Acuity Brands Inc.
Acuity Brands Inc. offers lighting and building management solutions under several brands such as Peerless, Gotham, Hydrel, Carandini, Mark Architectural Lighting, Holophane, American Electric Lighting, Winona Lighting, Lithonia Lighting, Juno, Indy, Aculux, Healthcare Lighting, and many others. The company offers Juno SlimForm Downlight, Cerra 10 ID, 308 WINLINE, and IBG High Bay.
Advanced Lighting Technologies LLC
Advanced Lighting Technologies LLC offers finished products such as LED, ADLT, and HID for highly efficient lighting. The company manufactures energy efficient lighting materials through Venture Lighting International, APL Engineered Materials, and Auer Lighting segments.
Cree Inc. operates under various business segments, namely Wolfspeed and LED Products. The company offers lamps and LED lighting systems. The company manufactures LED lighting systems for consumer markets, industrial, and commercial purposes.
Dialight Plc offers products through the following business segments: Lighting and Signals and Components. The company develops, manufactures, and supplies LED signaling solutions for the traffic and signals markets. The company also offers anti-collision obstruction lighting.
Eaton Corp. Plc
Eaton Corp. Plc offers products through the following business segments: Vehicle, Hydraulics, Aerospace, Electrical Products, Electrical Systems and Services, and eMobility. The company provides pneumatic systems for commercial and military use through its Aerospace business segment.
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General Lighting Product Outlook (Revenue, USD Billion, 2020-2024)
- LED lighting
- Traditional lighting
General Lighting Application Outlook (Revenue, USD Billion, 2020-2024)
General Lighting Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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