Energy Efficient Lighting Market - Global Industry Analysis

Energy Efficient Lighting Market By Product (Fluorescent Lamps, Compact Fluorescent Lamps (CFLs), LED Lamps, High Intensity Discharge (HID) Lamps, Induction Lamps), By End use (Residential, Commercial, Industrial, Outdoor), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 03-May-2022 Category: Energy & Mining Report Format : PDF Pages: 184 Report Code: ZMR-2526 Status : Published

The global Energy Efficient Lighting market was worth around USD 207.4 billion in 2021 and is estimated to grow to about USD 330.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.1 percent over the forecast period.

Description

Industry Prospective:

The global Energy Efficient Lighting market was worth around USD 207.4 billion in 2021 and is estimated to grow to about USD 330.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.1 percent over the forecast period. The report analyzes the Energy Efficient Lighting market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Energy Efficient Lighting market.

Energy Efficient Lighting Market: Overview

Energy Efficient Lighting are lighting solutions which are focused on conservation of energy and sustainability in order to provide a better low consumption alternative. Increasing demand for energy and rising focus on sustainability are factors that will majorly influence the energy efficient lighting market potential over the forecast period.

Increasing focus on sustainability, rising consumer preference of energy conservation, shift in consumer preferences from conventional lighting methods to energy efficient ones are other factors that will guide the energy efficient lighting market potential through 2028.

High implementation and installation costs of energy efficient lighting are estimated to have a hindering effect on the global energy efficient lighting market potential over the forecast period.

COVID-19 Impact:

The COVID-19 pandemic led to some changes to the energy efficient lighting market, but these were not so harsh as they were on the other markets that nearly crumbled under the adverse economic conditions in 2020. The energy efficient lighting market saw a drop in manufacturing and sales activities owing to multiple lockdown restrictions across various nations.  

The energy efficient lighting market is predicted to make a swift recovery in the post-pandemic era as the world returns to normal, and this will majorly be driven by increasing demand for energy efficient solutions as the world grapples from the increasing demand for energy. The energy efficient lighting market will also be driven by the increasing popularity of sustainability trends as well.

Global Energy efficient lighting Market

Energy Efficient Lighting Market: Growth Drivers

Increasing Demand for Energy Conservation

The world is experiencing a major population boom and this trend has substantially impacted multiple markets. This increasing population has also resulted in a huge uproar for energy consumption, which the world is not ready for yet. The depleting non-renewable resources that are used for energy generation have also promoted the use of energy efficient systems, and hence these factors are projected to boost the demand for energy efficient lighting over the forecast period.

Energy Efficient Lighting Market: Restraints

High Costs Associated with Implementation

Energy Efficient Lighting systems and solutions require high initial investment as there are multiple components that need to be installed in order to shift from conventional lighting setups and this has a hampering effect on the energy efficient lighting market growth. Energy efficient lighting companies are focusing on launching new and affordable solutions in order to overcome this barrier and unleash the full growth potential to maximize revenue streams.  

Global Energy Efficient Lighting Market: Segmentation

The global Energy Efficient Lighting market is segregated based on fiber type, Product, end use, and region.

By Product, the market is divided into Fluorescent Lamps, Compact Fluorescent Lamps (CFLs), LED Lamps, High Intensity Discharge (HID) Lamps, and Induction Lamps. The LED lamps segment is expected to hold a dominant market share and this trend is predicted to be the most lucrative segment over the forecast period as well. Increasing benefits of the use of LED and supportive government initiatives are anticipated to boost the growth in this segment.

By End use, the energy efficient lighting market is segmented into Residential, Commercial, Industrial, and Outdoor. The industrial and outdoor segments are expected to be the most lucrative segments in the global energy efficient lighting market and will majorly influence the industry growth through 2028.

Recent Developments

  • In April 2022 –  Electrical Safety Foundation International (ESFI) announced the launch of a national effort to bolster electrical safety and also promote the use of energy efficient lighting and energy conservation systems in Arlington, Virginia, United States. 

Regional Landscape

Europe has bolstered its focus on energy efficiency and lower carbon footprint, and this has led to a major increase in the adoption of novel sustainability technologies. This region is predicted to have the most bright outlook over the forecast period, owing to its increasing regulations supporting sustainable alternatives to attain zero carbon footprint. Energy efficient lighting solutions are predicted to see high demand, owing to increasing subsidies for their deployment by multiple government initiatives. Germany, the United Kingdom, and France are expected to be the most lucrative markets for energy efficient lighting industry growth over the forecast period.

The market for Energy Efficient Lighting in the Asia Pacific is also anticipated to provide beneficial opportunities owing to the rising focus on energy saving and energy management due to the increasing demand for energy from the growing population.

Competitive Landscape

Some of the main competitors dominating the global Energy Efficient Lighting market include - ABB (Switzerland), Eaton (Ireland), General Electric (US), Philips (Netherlands), Toshiba Corporation (Japan), Advanced Lighting Technologies Australia Inc. (Australia), Schneider Electric (France), NICHIA CORPORATION (Japan), Digital Lumens, Inc. (US), Bridgelux (US).

Global Energy Efficient Lighting market is segmented as follows:

By Product

  • Fluorescent Lamps
  • Compact Fluorescent Lamps (CFLs)
  • LED Lamps
  • High Intensity Discharge (HID) Lamps
  • Induction Lamps

By End use

  • Residential                                               
  • Commercial                                            
  • Industrial                          
  • Outdoor

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Energy Efficient Lighting Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Energy Efficient Lighting Market : snapshot
  • Chapter 3. Global Energy Efficient Lighting Market - Industry Analysis
    • 3.1 Energy Efficient Lighting Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Demand for Energy Conservation
    • 3.3 Market Restraints
      • 3.3.1. High Costs Associated with Implementation
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Product
      • 3.7.2 Market attractiveness analysis By End use
  • Chapter 4. Global Energy Efficient Lighting Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Energy Efficient Lighting Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Energy Efficient Lighting Market - Product Analysis
    • 5.1 Global Energy Efficient Lighting Market overview: By Product
      • 5.1.1 Global Energy Efficient Lighting Market share, By Product, 2021 and 2028
    • 5.2 Fluorescent Lamps
      • 5.2.1 Global Energy Efficient Lighting Market by Fluorescent Lamps, 2022 - 2028 (USD Billion)
    • 5.3 Compact Fluorescent Lamps (CFLs)
      • 5.3.1 Global Energy Efficient Lighting Market by Compact Fluorescent Lamps (CFLs), 2022 - 2028 (USD Billion)
    • 5.4 LED Lamps
      • 5.4.1 Global Energy Efficient Lighting Market by LED Lamps, 2022 - 2028 (USD Billion)
    • 5.5 High Intensity Discharge (HID) Lamps
      • 5.5.1 Global Energy Efficient Lighting Market by High Intensity Discharge (HID) Lamps, 2022 - 2028 (USD Billion)
    • 5.6 Induction Lamps
      • 5.6.1 Global Energy Efficient Lighting Market by Induction Lamps, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Energy Efficient Lighting Market - End use Analysis
    • 6.1 Global Energy Efficient Lighting Market overview: By End use
      • 6.1.1 Global Energy Efficient Lighting Market share, By End use, 2021 and 2028
    • 6.2 Residential
      • 6.2.1 Global Energy Efficient Lighting Market by Residential , 2022 - 2028 (USD Billion)
    • 6.3 Commercial
      • 6.3.1 Global Energy Efficient Lighting Market by Commercial , 2022 - 2028 (USD Billion)
    • 6.4 Industrial
      • 6.4.1 Global Energy Efficient Lighting Market by Industrial , 2022 - 2028 (USD Billion)
    • 6.5 Outdoor
      • 6.5.1 Global Energy Efficient Lighting Market by Outdoor, 2022 - 2028 (USD Billion)
  • Chapter 7. Energy Efficient Lighting Market - Regional Analysis
    • 7.1 Global Energy Efficient Lighting Market Regional Overview
    • 7.2 Global Energy Efficient Lighting Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Energy Efficient Lighting Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Energy Efficient Lighting Market, by Product, 2022 - 2028
      • 7.4.1 North America Energy Efficient Lighting Market, by Product, 2022 - 2028 (USD Billion)
    • 7.5 North America Energy Efficient Lighting Market, by End use, 2022 - 2028
      • 7.5.1 North America Energy Efficient Lighting Market, by End use, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Energy Efficient Lighting Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Energy Efficient Lighting Market, by Product, 2022 - 2028
      • 7.4.1 Europe Energy Efficient Lighting Market, by Product, 2022 - 2028 (USD Billion)
    • 7.5 Europe Energy Efficient Lighting Market, by End use, 2022 - 2028
      • 7.5.1 Europe Energy Efficient Lighting Market, by End use, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Energy Efficient Lighting Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Energy Efficient Lighting Market, by Product, 2022 - 2028
      • 7.4.1 Asia Pacific Energy Efficient Lighting Market, by Product, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Energy Efficient Lighting Market, by End use, 2022 - 2028
      • 7.5.1 Asia Pacific Energy Efficient Lighting Market, by End use, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Energy Efficient Lighting Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Energy Efficient Lighting Market, by Product, 2022 - 2028
      • 7.4.1 Latin America Energy Efficient Lighting Market, by Product, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Energy Efficient Lighting Market, by End use, 2022 - 2028
      • 7.5.1 Latin America Energy Efficient Lighting Market, by End use, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Energy Efficient Lighting Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Energy Efficient Lighting Market, by Product, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Energy Efficient Lighting Market, by Product, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Energy Efficient Lighting Market, by End use, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Energy Efficient Lighting Market, by End use, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 ABB (Switzerland)
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Eaton (Ireland)
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 General Electric (US)
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Philips (Netherlands)
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Toshiba Corporation (Japan)
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Advanced Lighting Technologies Australia Inc. (Australia)
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Schneider Electric (France)
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 NICHIA CORPORATION (Japan)
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Digital Lumens Inc. (US)
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Bridgelux (US).
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Energy Efficient Lighting Market attractiveness, By Product
  • 6. Global Energy Efficient Lighting Market attractiveness, By End use
  • 7. Global Energy Efficient Lighting Market share by Product, 2022 and 2028 (USD Billion)
  • 8. Global Energy Efficient Lighting Market by Fluorescent Lamps, 2022 - 2028 (USD Billion)
  • 9. Global Energy Efficient Lighting Market by Compact Fluorescent Lamps (CFLs), 2022 - 2028 (USD Billion)
  • 10. Global Energy Efficient Lighting Market by LED Lamps, 2022 - 2028 (USD Billion)
  • 11. Global Energy Efficient Lighting Market by High Intensity Discharge (HID) Lamps, 2022 - 2028 (USD Billion)
  • 12. Global Energy Efficient Lighting Market by Induction Lamps, 2022 - 2028 (USD Billion)
  • 13. Global Energy Efficient Lighting Market share by End use, 2022 and 2028 (USD Billion)
  • 14. Global Energy Efficient Lighting Market by Residential , 2022 - 2028 (USD Billion)
  • 15. Global Energy Efficient Lighting Market by Commercial , 2022 - 2028 (USD Billion)
  • 16. Global Energy Efficient Lighting Market by Industrial , 2022 - 2028 (USD Billion)
  • 17. Global Energy Efficient Lighting Market by Outdoor, 2022 - 2028 (USD Billion)
  • 18. Global Energy Efficient Lighting Market share, by Region, 2022 and 2028
  • 19. North America Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
  • 20. Europe Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
  • 21. Asia Pacific Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
  • 22. Latin America Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)
  • 23. The Middle-East and Africa Energy Efficient Lighting Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Energy Efficient Lighting Market: Snapshot
  • 2. Drivers of the Energy Efficient Lighting Market: impact analysis
  • 3. North America Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 4. North America Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 5. U.S. Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 6. U.S. Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 7. Canada Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 8. Canada Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 9. Europe Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 10. Europe Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 11. Germany Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 12. Germany Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 13. France Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 14. France Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 15. U.K. Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 16. U.K. Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 17. Italy Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 18. Italy Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 19. Spain Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 20. Spain Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 25. China Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 26. China Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 27. Japan Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 28. Japan Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 29. India Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 30. India Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 31. South Korea Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 32. South Korea Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 37. Latin America Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 38. Latin America Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 39. Brazil Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 40. Brazil Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 41. Mexico Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 42. Mexico Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 49. South Africa Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 50. South Africa Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Energy Efficient Lighting Market revenue, By Product, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Energy Efficient Lighting Market revenue, By End use, 2022 - 2028 (USD Billion)

Methodology

Free Analysis

In this modern world, energy lighting has been playing a critical role in each and every sector irrespective of developing or developed nations. A huge amount of energy can be saved by utilizing energy-efficient hardware, electronics, and lighting gadgets. Utilizing energy efficient lighting lowers heat gain, therefore saving air-conditioning energy and cooling energy thus enhancing warm comfort. Efficient electric lighting outline and design influence visual comfort as it focuses on an appropriate and adequate illumination of light while controlling reflection and glare. The global energy efficient lighting market is anticipated to grow bigger as the industry clients and users are constantly looking for arrangements that can lower the consumption of energy and provide cost-effectiveness. Such factors are contributing to the energy efficient lighting market growth over the forecast period. 
  
Technological advancements in the lighting systems not only provide energy efficiency but also offer additional benefits such as light ambiance, ventilation, and warmth. In addition, these lighting devices add the aesthetic beauty of the house and eliminate the need for artificial heating and cooling. The government initiatives for energy saving in order to maintain sustainability and eco-friendly environment are also factors that are fueling the growth of the market. The energy cost differs among developing and developed countries, governments of respective countries are formulating rules and regulations in order to ensure adequate power generation. In comparison to traditional lighting devices, the energy-efficient lighting devices such as LED and CFL aid the organizations in the conservation of energy and cost-effectiveness. Thus, the rising need and demand for energy-efficient lighting are boosting the market growth and development. 

Global Energy Efficient Lighting Market

Based on source, the energy efficient lighting market is segmented into high-intensity discharge lamps (HID), light emitting diodes (LED), and linear fluorescent lamps (LFL). 
The Asia Pacific held the substantial revenue share of the global energy efficient lighting market in 2017 and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed to the rising demand for energy efficient lighting system in order to save energy. Also, the countries such as India, Japan, and China are spending and investing capital in new technologies of lighting systems. As Asia Pacific region is a manufacturing hub, rapid industrialization is also the factor which is contributing to the growth and development of the market. Europe and North America have developed nations, which forecast to have a stable growth in the energy efficient lighting market. Government rules and regulations regarding eco-friendly environment are boosting the market growth in those regions. Such factors are expected to drive the energy efficient lighting market growth over the forecast timeframe.  

Some of the industry players operating in the energy efficient lighting market include Eaton, OSRAM GmbH, Dialight, Digital Lumens, Inc., General Electric Company, Toshiba Lighting & Technology Corporation, Bajaj Electricals Ltd., LIGMAN Lighting Co., Ltd., Zumtobel Group AG, Cree, Inc., and Philips Lighting Holding B.V.

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FrequentlyAsked Questions

Increasing focus on sustainability, rising investments in energy conservation and strict government mandates to conserve energy are some major trends that guide Energy Efficient Lighting market growth.

According to the Market Research report, the global Energy Efficient Lighting market was worth about US$ 207.4 billion in 2021 and is predicted to grow to around US$ 330.9 billion by 2028, with a compound annual growth rate (CAGR) of around 8.1 percent.

The Europe region is predicted to have the most bright outlook over the forecast period owing to its increasing regulations supporting sustainable alternatives to attain zero carbon footprint.

Some of the main competitors dominating the global Energy Efficient Lighting market include -- ABB (Switzerland), Eaton (Ireland), General Electric (US), Philips (Netherlands), Toshiba Corporation (Japan), Advanced Lighting Technologies Australia Inc. (Australia), Schneider Electric (France), NICHIA CORPORATION (Japan), Digital Lumens, Inc. (US), Bridgelux (US).

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