Global LED Lighting Ballast Market Key Strategies, Forecast to 2025 | Top Players: Acuity Brands, Advanced Lighting Technologies, Atlas Lighting Products, Eaton, Crestron Electronics, GE Lighting, Hatch Transformers, Leviton Manufacturing, Lutron Electron

The Global LED Lighting Ballast Market is growing by the ban of halogen lamps Overview:

The global LED lighting ballast market accounted for more than USD XX billion in 2017 and is expected to grow CAGR of around XX% to reach USD XX billion by the end of 2025. Lighting applications account for a considerable share of the global energy consumption. The escalating energy costs and consumption will compel both governments and consumers to reduce power consumption by employing energy-efficient lighting solutions. LED lights reduce energy consumption more effectively than the incandescent lamps and are also more durable than incandescent bulbs. Moreover, the implementation of flexible LED technology will enable the effective use of lighting controls, which will increase the potential for power saving. This will encourage more consumers to deploy LED lighting in many sectors, resulting in the augmented growth of the LED ballast market. Several cities across the globe, especially in the developed countries, have started revamping their homes to smart homes, where the home network is always connected to consumer electronic devices and entertainment gadgets that interact with each other. The smart home market will grow significantly during the predicted period and will accelerate the installation of intelligent lighting systems including lamps and fixtures, which in turn, will accelerate the adoption of LED lamps and lighting ballasts for residential applications.

Drivers and Restraints:
A major growth driver for this market is the ban placed on the use of halogen lamps. Many countries around the world have placed bans on the use of halogen lamps to boost the growth of LEDs for their inherent energy-saving feature. Halogen lamps consume much more power than LEDs. They also have a larger carbon footprint. The governments around the globe have passed several measures to phase out incandescent light bulbs for general lighting and focus on energy-efficient lighting alternatives. Fluorescent lighting is used in industrial applications and warehouses. The initial cost required to integrate LED lighting into manufacturing plants and production facilities is exorbitant. This prevents firms from integrating LEDs into their plants, and these firms prefer other types of lighting such as CFL, LFL, and HID. These end-users prefer the use of traditional lighting sources over LEDs as they have a lower initial cost. The assembly process for an LED is carried out manually as it is a complicated procedure. A clearly defined standard procedure for manufacturing LEDs on machines has not yet developed.

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Geographic Segmentation:
Geographically, Global LED Lighting Ballast Market has been divided into regions like North America, Europe and Asia pacific. The worldwide market has been mainly dominated by North America followed by Europe. Europe is expected to become the second-largest contributor to the market. Global LED Lighting Ballast Market analysis includes major companies like Acuity Brands, Advanced Lighting Technologies, Atlas Lighting Products, Eaton, Crestron Electronics, GE Lighting, Hatch Transformers, Leviton Manufacturing, Lutron Electronics, MaxLite, Osram Sylvania, Philips Lighting Holding, Progress Lighting, Technical Consumer Products, Universal Lighting Technologies (subsidiary of Panasonic Group), and Venture Lighting International.

Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the aspects influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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