Global SSL And Fluorescent Lighting Market Size, Disruptive Innovations and Market Projections 2024-2032

SSL And Fluorescent Lighting Market Size And Forecast

SSL And Fluorescent Lighting Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.

The increased awareness and supportive initiatives by the governments regarding the use of environmentally-friendly lighting technologies that as SSL and Fluorescent Lighting, as they offer low energy consumption boosts market growth over the forecasted period. The Global SSL And Fluorescent Lighting Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global SSL And Fluorescent Lighting Market Definition

SSL and Fluorescent Lighting offer product ranges such as LED, OLED, and CFL. SSL and Fluorescent Lighting technology consumes very less energy and makes less dissipation of heat as compared to traditional lighting systems. SSL lighting can be defined as a technology in which LEDs replace conventional incandescent lamps for general lighting purposes.

SSL lighting products emit visible light with reduced heat generation and also do not contain hazardous substances. While Fluorescent Lighting can be defined as a fluorescent lamp that utilizes fluorescence in order to produce visible light. It is also referred to as a low-pressure mercury-vapor gas-discharge lamp. SSL and Fluorescent Lighting are highly preferred and most mature light source technology for many lighting applications.

Global SSL And Fluorescent Lighting Market Overview

The increased awareness and supportive initiatives by the governments regarding the use of environmentally-friendly lighting technologies that as SSL and Fluorescent Lighting, as they offer low energy consumption boosts market growth over the forecasted period. Governments across the globe are promoting SSL and Fluorescent Lighting in order to save energy. Therefore, there is a rise in the demand owing to the growth of application sectors such as smart city initiatives, and infrastructural developments.

Also, there is growth in the demand from the automotive industry boosting the SSL And Fluorescent Lighting Market. As SSL and Fluorescent Lighting products offer various advantages such as improved light quality, longer life, energy efficiency, durability, and reduced fixture size. Also, SSL products that are Organic LEDs experiencing growth in adoption into biological implants and medical devices. These factors are expected to drive the SSL And Fluorescent Lighting Market during the forecasted period. There are certain restraints and challenges faced which will hinder market growth.

One of the major restraints is the high cost of SSL and Fluorescent Lighting products. The cost of products is nearly thrice that of conventional lamps. As for the production of SSL and Fluorescent Lighting products, utilized raw materials are of high cost and are of limited economies of scale as compared to incandescent bulb production. Also, issues regarding the use of mercury vapors in Fluorescent lighting may affect the market growth. Therefore, the aforementioned factors might hamper the market growth of SSL and Fluorescent Lighting up to a certain extent over the forecasted period.

Global SSL And Fluorescent Lighting Market: Segmentation Analysis

The Global SSL And Fluorescent Lighting Market is Segmented on the basis of Product, Application, and Geography.

SSL And Fluorescent Lighting Market, By Product

• Solid-State Lighting
• Fluorescent Lighting

Based on Product, the market is bifurcated into Solid-State Lighting and Fluorescent Lighting. The Solid-State Lighting segment is expected to grow at a significant CAGR during the forecasted period. These factors can be attributed to the increased adoption and rising popularity of LEDs owing to the advantages offered by the segment across the globe.

SSL And Fluorescent Lighting Market, By Application

• General Lighting
• Backlighting
• Automotive Lighting
• Medical Lighting
• Others

Based on Application, the market is bifurcated into General Lighting, Backlighting, Automotive Lighting, Medical Lighting, and Others. The Automotive lighting segment is anticipated to have the highest CAGR in the forecast period. The factors can be attributed to the rising adoption of SSL and Fluorescent Lighting technology among automotive industries across the globe, owing to the beneficiary advantages provided by these technologies such as long battery life and high efficiency to automobile manufacturers.

SSL And Fluorescent Lighting Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of regional analysis, the Global SSL And Fluorescent Lighting Market are classified into North America, Europe, Asia Pacific, and the Rest of the world. The major share of the market will be dominated by the Asia Pacific region. These factors can be attributed to the rapid infrastructural and industrial growth in developing countries such as India and China.

Key Players

The “Global SSL And Fluorescent Lighting Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are GE Lighting, OSRAM, Panasonic, Schnieder Electric, Acuity Brands, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, Everlight Electronics, Toshiba, Toyoda Gosei. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Business Expansion, and Product Launch

• In Jan 2022, Acuity Brands, Inc., a market-leading industrial technology company, announced today that it is expanding its collaboration with Microsoft to add new capabilities to its smart lighting, lighting controls, and building automation solutions.
• In Oct 2021, Dialight Introduces the New Vigilant Ultra-Efficient High Bay. It is the most efficient heavy industrial LED high bay on the market, with up to 200 LPW. The most recent addition to the world’s best-selling industrial LED high bay line-up provides superior sustainability and ROI. Up to a Year Earlier for a Quicker Path to Carbon-Neutral Operations & Energy Savings.
• In April 2022, Eaton today announced the establishment of a new office and research center in Karlsruhe, Germany, as part of its continued expansion into Europe, a leading region in electrified vehicle (EV) technology. This expansion will be in addition to existing engineering and manufacturing facilities in Montrottier, France, and Tczew, Poland.

Mergers and Acquisitions

• In June 2021, Acuity Brands, Inc., a leading industrial technology company, announced the signing of a binding agreement to acquire ams OSRAM’s North American Digital Systems (DS) business. Acuity’s acquisition of ams OSRAM’s North American DS business will provide customers and associates with a strategic fit and perspective, as well as a growth strategy for the company.
• In April 2021, With the acquisition of Blue Yonder, Panasonic accelerates the autonomous supply chain. Panasonic’s own digital transformation and customer-centric focus will benefit from this acquisition. The Panasonic Group will transition to a holding company system, focusing management resources on strategic businesses such as supply chain innovation and automation.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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