The global lamps market is expected to expand at a modest CAGR from 2015 to 2023. It is estimated that lighting consumes a significant portion of energy production. The growing demand from rural areas on account of initiatives taken by governments across regions is expected to boost the global lamps market. Rural areas in developing nations of India, the Middle East and Latin America are witnessing a surge in the demand for lamps. The demand for lamps exists not only from residential sectors, but also from commercial and industrial sectors, which will ensure a steady growth of the market.
The report studies key segments within the global water based enamel industry and helps in identifying the segments and sub-segments that are witnessing sluggish growth as well as those segments which are expected to witness a remarkable growth rate. The study also attributes key factors behind the state and size of a segment. The competitive landscape is also included in the later part of the report, where key companies are studied and their collective share is given. The study helps in understanding the structure of the industry and helps track industry trends, opportunities, and threats. It also helps identify the various growth opportunities in the market in the future and offers an unbiased review on the future of the market.
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The global lamps market is highly fragmented with numerous companies launching their products of varying sizes. Aggressive marketing strategies are used by these players so as to occupy a strong position in the market. The increasing number of players in the market is also intensifying competition. Players in the market are also participating in mergers, collaborations, and partnerships to increase their global presence.
Despite being characterized by the presence of local as well as international companies, the market is expected to be led by a few international companies, which are constantly acquiring local or regional companies to increase their shares. The global lamps market may be termed mature and stagnant, however new product innovations may boost the growth of the market.
This market study estimates that the residential segment will contribute for a significant portion of the global lamps market. The rapid increase in the population and improvement in the economic condition of the people in developing nations and rural areas of these countries will fuel the growth of the segment. By type of lighting, the LED lighting segment is presently experiencing a robust growth owing to high energy efficiency, weather resistant design, and increased operational life.
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The major players in the lamps market are Chicago Miniature Lighting, EiKO Limited, Deposition Sciences, EYE Lighting International, Federal Signal Corporation, Federal-Mogul Corporation, Fiat SpA, General Electric Company, GE Lighting, Hamamatsu Photonics KK, Hella KGaA Hueck & Company, Harrison Toshiba Lighting, Iwasaki Electric Company Limited, LCD Lighting, JKL Components Corporation, Lights of America Incorporated, Light Sources Incorporated, National Cathode Corporation, Panasonic Corporation, OSRAM SYLVANIA, Peterson Corporation, Royal Philips Electronics NV, Philips Lighting, Siemens AG, Stanley Electric Company Limited, Toshiba Corporation, TCP Incorporated, Trojan Incorporated, Welch Allyn Incorporated, US Energy Technologies Incorporated, Ushio Incorporated, US Lighting Tech, UVP LLC, Visteon Corporation, Voltarc Technologies, Venture Lighting International, and Advanced Lighting Technologies Incorporated.