Global Electric Lighting Equipment Market Comprehensive Study: Forecasted Market Size And Growth Rate | Stanley Electric Co Ltd., Panasonic Corporation, Robert Bosch GmbH, Eaton Corporation plc, Acuity Brands Inc., OSRAM GmbH, Alstom SA, Toshiba Corporati

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Electric Lighting Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The electric lighting equipment market size has grown strongly in recent years. It will grow from $121.39 billion in 2023 to $128.6 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to technological advancements, energy efficiency regulations, consumer awareness, urbanization, industrial growth.

The electric lighting equipment market size is expected to see strong growth in the next few years. It will grow to $158.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to sustainability initiatives, infrastructure projects, e-commerce and online sales. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .

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Market Segmentation:
The main types of electrical lighting equipment are general lighting, automotive lighting, and backlighting. Automotive lighting consists of lighting and signaling devices mounted on the front, rear, sides, and, in some cases, the top of the vehicle, and it illuminates the roadway for the driver. The lighting system also improves visibility, especially in low-light conditions. It alerts other drivers and pedestrians to the presence and direction of a vehicle. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used for residential, commercial, automotive, and other applications.

Major Driver - Led Lighting Adoption Driving Growth In The Electric Lighting Equipment Market
The increasing adoption of LED lighting is expected to propel the growth of the electric lighting equipment market going forward. LED lighting refers to a type of lighting technology that uses light-emitting diodes (LEDs) as the source of illumination. LED lighting offers numerous benefits in the electric lighting equipment market including energy savings, durability, environmental friendliness, and design flexibility. For instance, in December 2022, according to E-Green Electrical, an Australia-based energy efficiency company, around 50% of all light sources worldwide are already LED lamps, and researchers estimate that by 2030, LEDs would make up about 87% of all light sources. Therefore, the increasing adoption of LED lighting is driving the growth of the electric lighting equipment market going forward .

Competitive Landscape:
Major companies operating in the electric lighting equipment market include Stanley Electric Co Ltd., Panasonic Corporation, Robert Bosch GmbH, Eaton Corporation plc, Acuity Brands Inc., OSRAM GmbH, Alstom SA, Toshiba Corporation, Hubbell Incorporated, LG Electronics, Liron Lighting LLC, Nichia Corporation, EiKO Global LLC, RAB Lighting Inc., MaxLite Inc., NaturaLED, Westgate MFG Inc., Hydrofarm Holdings Group Inc., Signify NV, Cree Inc., Technical Consumer Products Inc., Satco Products Inc., Feit Electric Company Inc., Prescolite Inc., Light Efficient Design Co. Ltd., Litetronics International Inc., Ledvance GmbH, Fulham Co. Inc., Keystone Technologies LLC, Venture Lighting International Inc., Halco Lighting Technologies LLC, American Lighting Inc., Nora Lighting Inc., Litecontrol Corporation, Sea Gull Lighting Products LLC, Kichler Lighting LLC.

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Top Trend - Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers
Major companies operating in electric lighting equipment market are focusing on innovative products such as smart light panels to provide reliable services to their customers. Smart light panels refer to a type of lighting technology that combines the benefits of traditional lighting fixtures with smart technology. For instance, in August 2023, GE Lighting, a US-based company that focuses on the design, manufacture, and distribution of electric lighting equipment launched new Cync smart hexagon light panels. The hexagonal panels can be controlled with the Savant-powered Cync mobile app and connect to Wi-Fi as a single smart light fixture without the need for a separate hub. This app can access pre-made light shows, make their own, or sync the panels to music. It is simple to use and intuitive .

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Lighting Equipment Market Characteristics
3. Electric Lighting Equipment Market Trends And Strategies
4. Electric Lighting Equipment Market - Macro Economic Scenario
5. Electric Lighting Equipment Market Size And Growth
…..
27. Electric Lighting Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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