Hospital Lights Market is expected to reach US$ 9,765.09 Million by 2028 | The Insight Partners

Hospital Lights Market: Key Insights

According to our latest market study on "Hospital Lights Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Technology, and Application," the market is expected to grow from US$ 5,432.01 million in 2021 to US$ 9,765.09 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://bit.ly/3wDrXnZ

Hospitals and clinics have high energy demands due to 24×7 operations, medical imaging equipment, and special clean air and sanitary requirements. Energy efficiency has become a major policy instrument worldwide, assisting in meeting the significant increase in energy demand. All the government and non-government agencies are working together for ensuring sustainable energy usage. For example, the UK government published guidance in November 2020 on proposed regulations to implement new eco-design and energy labeling requirements for light sources and separate control gears. These requirements include measures to raise minimum energy efficiency requirements for lighting products, which will lead to the phasing out of several less efficient lamp types.

Moreover, energy saving, emission reduction, and green development have become common concerns of different countries due to the global energy shortage. According to statistics, lighting application accounts for ~20% of the total power consumption of the world. Lighting in China accounts for ~14% of total power consumption. Therefore, lighting has always been the key area of energy conversion in the world. Thus, the adoption of LED lights, which are successfully transforming the definition and scope of lighting technology, is growing rapidly. Also, the stringent rules proposed by governments and regulatory bodies in the US, Canada, and the European Union on using less efficient lighting have paved the growth path for the LED lighting business. A surge in the adoption of LED lights will contribute to the transformation of old hospital buildings into new energy-efficient hospital premises, thereby driving the hospital lights market growth.

Click here to avail lucrative discounts on our latest reports. We offer student, enterprise, and special periodic discounts to our clientele. Please fill out the inquiry form below to know more - https://bit.ly/3a6g7ty

Rising Adoption of Energy-Efficient Solar-Based LED Lighting Propel Hospital Lights Market

According to the International Energy Agency estimates, solar energy generation capacity is expected to reach 3,300 TWh by 2030. Several countries including Italy, India, and Germany are attempting to build large solar power-producing facilities to harness solar energy. Due to such rising adoption of solar energy, hospitals spend humongous amounts of money on building a fail-safe environment of the hospital and implementing solar energy-based lighting on hospital premises. In addition, energy-intensive utilities, such as hospitals, can benefit from solar energy as it can provide 24×7 electricity without fail. The power generated during the day can be stored and utilized later. For instance, from 2021, small hospitals in Japan, in areas with unreliable electricity supply, started using solar power lights to avoid any power failure. Thus, the above-mentioned factors are driving the hospital lights market growth.

Hospital Lights Market: Competitive Landscape and Key Developments

Acuity Brands, Dragerwerk, Hubbell Incorporated, Signify Holdings, and BFW Inc are key players operating in the hospital lights market. Several important market players were analyzed during this study to get a holistic view of the market and its ecosystem.

Players operating in the hospital lights market are mainly focused on the development of advanced and efficient products.

1. In 2022, Hubbell Incorporated has been recognized as the World's Most Ethical Companies of 2022; it was given this recognition for the second time by Ethisphere.
2. In 2022, TRILUX Switzerland acquired Monolicht GmbH, a local luminaire manufacturer. The company will continue to operate as an independent local subsidiary of TRILUX in Switzerland.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://bit.ly/3Gd5f97

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.