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General Lighting Market to Grow by $30.50 Billion From 2020-2024

General Lighting Market to Grow by $30.50 Billion From 2020-2024

Technavio has announced its latest market research report titled Global General Lighting Market 2020-2024.

Technavio has been monitoring the general lighting market and it is poised to grow by USD 30.50 billion during 2020-2024, progressing at a CAGR of 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Click here to request a free sample report on COVID-19 impact.

Frequently Asked Questions

  • What was the value of the general lighting market in 2019?
    • Technavio says that the value of the market was USD 100.22 billion in 2019 and it is projected to reach USD 130.72 billion by 2024.
  • At what rate is the market projected to grow during the forecast period 2020-2024?
    • Growing at a CAGR of over 5%, the market growth will accelerate in the forecast period
  • What is the key factor driving the market?
    • Declining manufacturing cost of LEDs and the emergence of new technologies are among the key factors driving market growth.
  • Who are the top players in the market?
    • Acuity Brands Inc., Advanced Lighting Technologies LLC, Cree Inc., Dialight Plc, Eaton Corp. Plc, General Electric Co., OSRAM GmbH, Panasonic Corp., Schneider Electric SE, and Signify NV are some of the major market participants.
  • Which region is expected to hold the highest market share?
    • APAC
  • Based on segmentation by product, which segment is expected to witness the fastest growth in the global market?
    • The LED lighting segment is expected to grow at a faster rate.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acuity Brands Inc., Advanced Lighting Technologies LLC, Cree Inc., Dialight Plc, Eaton Corp. Plc, General Electric Co., OSRAM GmbH, Panasonic Corp., Schneider Electric SE, and Signify NV are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Declining manufacturing cost of LEDs has been instrumental in driving the growth of the market.

General Lighting Market 2020-2024: Segmentation

General Lighting Market is segmented as below:

  • Product
    • LED Lighting
    • Traditional Lighting
  • Application
    • Residential
    • Commercial
    • Outdoor
    • Industrial
    • Others
  • Geography
    • APAC
    • Europe
    • North America
    • MEA
    • South America

General Lighting Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Technavio’s general lighting market report covers the following areas:

  • General Lighting Market size
  • General Lighting Market trends
  • General Lighting Market analysis

This study identifies the emergence of new technologies as one of the prime reasons driving the general lighting market growth during the next few years.

General Lighting Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the general lighting market, including some of the vendors such as Acuity Brands Inc., Advanced Lighting Technologies LLC, Cree Inc., Dialight Plc, Eaton Corp. Plc, General Electric Co., OSRAM GmbH, Panasonic Corp., Schneider Electric SE, and Signify NV. Backed with competitive intelligence and benchmarking, Technavio’s research reports on the general lighting market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

General Lighting Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist general lighting market growth during the next five years
  • Estimation of the general lighting market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the general lighting market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of general lighting market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • LED lighting – Market size and forecast 2019-2024
  • Traditional lighting – Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Application

  • Market segments
  • Comparison by Application placement
  • Residential – Market size and forecast 2019-2024
  • Commercial – Market size and forecast 2019-2024
  • Outdoor – Market size and forecast 2019-2024
  • Industrial – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Application

Customer Landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Acuity Brands Inc.
  • Advanced Lighting Technologies LLC
  • Cree Inc.
  • Dialight Plc
  • Eaton Corp. Plc
  • General Electric Co.
  • OSRAM GmbH
  • Panasonic Corp.
  • Schneider Electric SE
  • Signify NV

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

 

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