Emerging lighting technologies
26 November 2009
To ensure you’re not kept in the dark about lighting, Market Publishers has released a report detailing emerging technologies.
An increase in living standards and changing lifestyles has led to a greater demand for energy-efficient new lighting technologies over the traditional incandescent and halogen lighting.
A number of application areas ranging from small household lighting to commercial and industrial lighting have benefited by these emerging technologies. The fulcrum has further shifted in favour of these new technologies by virtue of their availability in different sizes and shapes and with different fixtures to justify their usage in the widely varied application areas. With US and Europe holding the major chunk of the market share, Asia is seen as an emerging market with tremendous potential, particularly in countries such as India and China.
Although the market is being boosted by the improved energy efficiency obtained, there are challenges to overcome. High initial cost and health and environmental concerns in developed countries are some of the major hiccups for the industry. However, the current market trends show the increasing market size for emerging lighting technologies in developed and developing countries. With continued efforts and research to overcome the challenges, and development of improved products at affordable prices, the market is set for a roll-on for several decades.
The global emerging lighting technologies market is expected to be worth US$109.2 billion by 2014, growing at an estimated CAGR of 8.1% from 2009 to 2014. Fluorescent lighting forms the largest market segment; it is expected to reach US$82.6 billion by 2014 at a CAGR of 7.9% for the same period.
North America is the largest emerging lighting market; expected to be worth US$42.8 billion by 2014, accounting for nearly 39% of the total revenues. Europe is the second largest segment and is expected to reach US$36.9 billion by 2014. However, Asia is the fastest growing market and is poised for a high growth of 8.9% for the next five years.
The emerging lighting technologies are said to be LEDs, fluorescent lighting, high intensity discharge, neon lamps, distance lighting, wireless lighting, sulphur plasma, and tungsten photonic lattice.
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