Electric Lighting Equipment Market By Type (General Lighting, Automotive Lighting, Back Lighting), By Sales Channel (Online, Offline), By Application (Residential, Commercial, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The electric lighting equipment market valued for $105.3 billion in 2022 and is estimated to reach $217.4 billion by 2032, exhibiting a CAGR of 7.64% from 2023 to 2032.
The electric lighting equipment consists of tools and parts that produce and regulate light for illumination. Electrical equipment used to generate light by converting electrical energy into electromagnetic radiation in the visible spectrum is known as electric lighting equipment.
Electric lighting equipment is employed in a variety of applications including the commercial, residential, and industrial sectors. Moreover, it is utilized in lighting, environments and mood, energy efficiency, media and entertainment, agriculture, and automobiles. They can help ensure people safely navigate, reduce eye strain, and result in cost savings and reduced environmental impact market dynamics.
Owing to the increase in residential and commercial building around the world as well as the rise in the number of skyscrapers, it is projected that the market for electric lighting equipment would grow significantly over the forecast period. Electric lighting equipment is also projected to profit from lighting equipment's technological progress during the forecast period and is likely to present a market expansion opportunity. On the other side, it is projected that over the projection period, government regulation for energy efficiency standards for lighting equipment will impede market expansion.
The electric lighting equipment market is segmented on the basis of type, application, sales channel, and region. On the basis of type, the market is divided into general lighting, automotive lighting, and backlighting. Based on sales channels, the market is segregated into online and offline. Based on application the market is classified into residential, commercial, and others.
Region-wise, the electric lighting equipment market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the report include General Electric, Acuity Brand Inc., Philips Lighting (Signify Holding), Stanley Electric Co Ltd., Osram GmbH, Nichia Corporation, Hubbell Incorporated, Everlight Electronics Co.ltd., Eaton Corporation plc., and Toshiba Corporation. Market players have adopted various strategies such as product launch, and acquisition, to expand their foothold in the electric lighting equipment market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric lighting equipment market analysis from 2022 to 2032 to identify the prevailing electric lighting equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric lighting equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric lighting equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeGeneral Lighting
Automotive Lighting
Back Lighting
By Sales ChannelOnline
Offline
By ApplicationResidential
Commercial
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Acuity Brand, Inc.
Eaton Corporation Plc
Everlight Electronics co.,Ltd.
GENERAL ELECTRIC
Hubbell.Inc
NICHIA CORPORATION
OSRAM GmbH.
Signify Holding.
Stanley Electric Co Ltd.
TOSHIBA CORPORATION
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