Global plasma lighting market size was US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 4.7% during forecast period.
Global Plasma Lighting Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis
Plasma lighting is commonly known as light emitting plasma (LEP). Plasma lighting includes electrodeless discharge lamp, where the power is transferred from outside the lamp enclosure using high frequency electromagnetic radiation. It also needs a separate low-voltage DC power supply to deliver power to the high-frequency driver.
Growing requirement for energy-efficient lighting solutions and lights with long lifespan are major driving factors behind the growth of market. Surge in the infrastructure development activities in developing economies, increasing popularity and adoption of indoor farming system equipped with plasma lighting across the world, growing switch towards plasma lighting over traditional lighting system in marine applications, rising demand of LEP in large outdoor areas and high ceiling applications and high adoption of LEP in Greenhouses across the globe are expected to improve the growth of market during forecast period. Plasma lighting provides some benefits such as long life, high energy efficiency, better lumen maintenance, improved dimming performance, better color rendering, high light output and lower price compared to LEDs are ultimately propelling the growth of market.
However, high initial costs of energy-efficient and higher quality plasma lights are major restraining factors that could hamper the growth of market. Growing technological advancement in LED lighting and the spectrum and Kelvin temperature concern in plasma lighting could hinder the growth of market.
Global Plasma Lighting Market: Segmentation Analysis
By application, industrial, roadways, streets and tunnels segments dominated the market in 2019 and are projected to witness fast growth at CAGR of XX% during forecast period. The growth is attributed to the rising awareness about security and safety of employee among various industries. High adoption and implementation of various rules and regulations regarding employee safety and adoption of suitable and sufficient lighting solutions to improve productivity of workers are further contributed in the growth of market. Additionally, growing smart city projects and initiatives by the government for street light control system is propelling the growth of market across the globe.
Horticulture segment expected to grow at CAGR of XX% during forecast period. The growing requirement for indoor farming in urban areas across the globe and high adoption rate of indoor farming in Europe are expected to improve the growth of market during forecast period. Growing urban population is expected to reduce the agricultural land availability, which results into the demand of indoor farming solutions. Thus, increased demand of indoor farms with the adoption of plasma lighting to increase productivity is further propelling the growth of market. Plasma lighting lights have ability to mimic sunlight; hence can improve photosynthesis in plants.
Global Plasma Lighting Market: Regional Analysis
Region wise, Europe held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during forecast period. The UK, Germany and France are major key contributors behind the growth of market. The growth is attributed to the rise in adoption of plasma lighting in horticulture and gardening industry across the region. Also massive presence of major market players and growing technological advancement in lighting solutions by these players is driving the growth of market.
Municipalities and cities across the region are looking forward to adopt energy efficient lighting solutions for public buildings and street lighting to reduce operation costs and to save energy. In addition, factories, commercial businesses, warehouses, large retail stores, airports, parking facilities and convention centres are seeking to improve their lighting systems for energy and maintenance savings, which is ultimately propelling the growth of market.
Global Plasma Lighting Market: Key Development
In April 2017, Pure Plasma Lighting introduces the Genesis M; the world’s first 1000 watt plasma light system for the Horticulture Industry.
The objective of the report is to present a comprehensive analysis of the Global Plasma Lighting Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Plasma Lighting Market dynamics, structure by analyzing the market segments and projects the Global Plasma Lighting Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Plasma Lighting Market make the report investor’s guide.
The Scope of Global Plasma Lighting Market
Global Plasma Lighting Market, By Component
• Cavity Resonator
• Bulb Assembly
Global Plasma Lighting Market, By Wattage
• 300 W
• 700 W
• 1,000 W
Global Plasma Lighting Market, By Application
• Roadways, Streets and Tunnels
• Sports & Entertainment
Global Plasma Lighting Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Plasma Lighting Market, Key Players
• LUMA LEDS
• HIVE LIGHTING
• Ka Shui International Holdings Ltd
• Gavita International B.V
• Fusion Lux
• Saturn Overseas Trading LLC
• BIRNS, Inc
• Ningbo Aishi Electric Equipment Co.,Ltd
• Solaronix SA
• RFHIC Corporation
• Jofam Sàrl
• Pandora Green S.p.A
• PURE PLASMA LIGHTING
• Green de Corp
• Lumartix SA
• SQUARE 1 PRECISION LIGHTING, INC
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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