The market across North America held the largest share in 2021, accounting for more than one-third of the market. However, the market across Europe is projected to hold the largest share throughout the study period. Moreover, the region is expected to portray the highest CAGR of 8.8% from 2022 to 2031.
As per the report published by Allied Market Research, the global energy efficient lighting market is expected to garner $93.3 billion by 2030, registering at a CAGR of 8.1% from 2022 to 2030. The report highlights market characteristics, market potential, growth by segmentation, and competitive landscape.
Vitika Verma, Manager, Energy and Power at Allied Market Research, stated, “Technological advancements in lighting systems and rise in demand for lighting devices to enhance aesthetic beauty of home have boosted the growth of the energy efficiency lighting market. However, high installation and initial costs of the devices hinder the market growth. On the other hand, development in lighting technology and mass production of energy-efficient lights would open new opportunities in the future.”
Download sample pages:
https://www.linkedin.com/feed/update/urn:li:activity:7057697703945728000
Covid-19 pandemic impact on the market:
The market witnessed steady growth during the pandemic due to global shortage of electric components. China is the largest supplier of electronic component and lack of proper supply due to Covid-19 outbreak resulted in postponement of residential products in India and China. However, the LED market witnessed decrease in growth due to delayed construction projects.
The global energy efficient lighting market is is analyzed across several regions such as Europe, North America, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for more than one-third of the market. However, the market across Europe is projected to hold the largest share throughout the study period. Moreover, the region is expected to portray the highest CAGR of 8.8% from 2022 to 2031.
Download brochure:
https://www.facebook.com/photo/?fbid=672156138252624&set=a.481041104030796
The global energy efficient lighting market is divided based on source, application, and region.
Based on source, the light emitting diodes (LED) segment would manifest the highest CAGR of 8.5% during the forecast period. In addition, the segment would maintain its dominance in terms of revenue throughout the forecast period.
Sample PDF:
https://twitter.com/allied_market/status/1651933539212877824
Based on application, the commercial segment held the largest share in 2021, accounting for nearly two-fifths of the market. However, the home segment is expected to register the highest CAGR of 8.8% during the forecast period.
The global energy efficient lighting market report includes an in-depth analysis of the major market players such as Eaton, Philips, General Electric, Toshiba Corporation, ABB, Schneider Electric, Advanced Lighting Technologies Australia Inc., NICHIA CORPORATION, Bridgelux and Digital Lumens, Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285 |UK: +44-845-528-1300 | Hong Kong: +852-301-84916 | India (Pune): +91-20-66346060 | Fax: +1-855-550-5975 Email” help@alliedmarketresearch.com
Follow us on LinkedIn, Facebook, Twitter, Pinterest, YouTube & Instagram