Lamp Market 2017 – 2024 By Regional Manufacturers GE, Havells India Ltd, OSRAM, MaxLite, EYE Lighting International, Federal-Mogul Powertrain, Panasonic, Philips and Toshiba

Lamp Market size will surpass USD 18 billion by 2024, Lamps are required in a wide variety of applications such as residential, hospitality, commercial, roadways, etc. Government initiatives for increasing lighting facilities in rural areas have increased the overall lamp market demand. The usage of CFLs has increased in commercial and residential sectors as they have replaced incandescent bulbs that are banned in most regions owing to the excessive mercury content.

Request for Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/1566

Stringent government regulations toward the usage of energy-efficient bulbs and rising spending on residential constructions are anticipated to hamper lamp market demand. Consumer preference shifting towards LED bulbs owing to their lesser energy consumption costs will hamper the industry growth over the forecast timeline. Moreover, government initiatives across the globe for the implementation of LED bulbs have negatively affected the demand for bulbs and will be a threat to the lamp market growth.

Fluorescent and halogen lamps are among the most widely used lighting sources. Modern fluorescent bulbs provide a cost-effective solution for both private and commercial uses. Moreover, they uniformly distribute the light and are featured with long service life, high luminous efficacy, low energy consumption, and superior reliability. Substitution of fluorescent bulbs with advanced LEDs will drastically decrease the demand for raw materials such as Europium and Yttrium.

Residential applications are anticipated to witness high adoption rates due to the increasing demand for cost-effective lighting systems in households. The increasing inclination of consumers towards energy-efficient lighting products, such as HIDs and fluorescent lamps, will further impact the lamp market demand. Consumers are also focusing on the lighting design and adopting various electric lighting approaches to optimize the circulation of light inside their homes.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/lamp-market

The electrical discharge segment growth is attributed to the rising adoption of fluorescent bulbs across various applications. These fluorescent lamps are available in various lumen packages and wattage, which enables consumers to vary the light power and output to accurate load requirements to fulfill the stringent energy codes.

Rising expenditure on construction and the demand for energy-efficient lighting systems are anticipated to drive the Asia Pacific lamp market. The presence of various manufacturers will also impact the industry. The need for efficient lighting systems for surgical purposes due to a large aging population base will escalate the demand for bulbs in the region.

The need for energy saving bulbs and the rising consumer preference toward energy efficient products will offer growth opportunities to the U.S. lamp market. The demand for CFLs has increased in the UK due to phasing out of incandescent lamps; this will augment the lamp market demand over the forecast time frame. Retrofitting energy efficient products is a major trend observed in the regional landscape.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/1566

GE, Interlectric Corporation, Havells India Ltd, Amglo Kemlite Labs, Bajaj Group,Ajanta Manufacturing Limited, OSRAM, MaxLite, EiKO Global, LLC, EYE Lighting International,Federal-Mogul Powertrain, Panasonic, Philips, Stanley Electric U.S. Co., Inc., Toshiba are some of the major competitors in the lamp market. Technological advancements in bulbs such as high-efficiency ballasts are being widely adopted across the industry. Manufacturers are implementing aggressive strategies to gain a competitive edge. Mergers, collaborations, and partnerships are a few strategies adopted by the industry players.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.