Lamp Market Analysis

Lamp Market Analysis

Electric discharge lamp market share is anticipated to display a significant growth rate in the coming years. Rising demand of CFLs over the past decade has fueled the revenue growth across this segment. The long life, efficiency, and reliability benefits offered by these bulbs testifies their rising adoption.
 

The fluorescent lamps market size has witnessed significant growth as these bulbs are more cost-effective. They provide better illumination, faster start-up, longer durability, less glare, and superior light quality. Moreover, increased usage of CFLs in various applications has positively impacted the growth prospects. Advancements in incandescent light bulbs may replace LEDs. The energy which is lost in the form of heat can be bounced back by surrounding the filament with special crystal structure
 

Indoor applications occupied the largest revenue share and are anticipated to continue dominating the industry in the forecast timeframe. Growing lamp market adoption in the residential, commercial, and industrial sectors will drive the industry demand.
 

Improvement in living standards, growing awareness about adopting energy efficient bulbs, has fueled the demand across the residential sector. Household, hospitality, and healthcare segments are increasingly implementing halogen and fluorescent bulbs, which has positively impacted the industry growth. Several types of CFLs include A-Line bulbs that are commonly used in households.
 

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.
 

Subsidies provided by the governments of key regions such as Brazil and Mexico is expected to lower the product costs. In Mexico, incandescent light bulbs are more commonly used in residential areas owing to their low-cost and longer product life. The presence of many competitors is credited to low-cost and abundance of raw materials. This, in turn, will reduce the input costs and offer consumers a wide variety of alternatives.