World Lamps Market to Reach US$24 Billion by 2015.

GIA announces the release of a comprehensive global report on Lamps market. The global market for Lamps is forecast to reach US$24 billion by the year 2015. Key factors driving market growth include the replacement of conventional incandescent lamps by new energy-efficient lighting technologies such as LEDs and CFLs to reduce energy usage  and address climate change  issues.

The global lamps market is presently characterised by constant increase in demand for energy efficient lighting solutions such as CFLs (Compact Flourescent Lamps), and LED Lamps (Light emitting diode lamps). Backed by governments’ economic stimulus programs the world over, and huge investments in public work projects, demand for these high performance lamps looks promising over the ensuing years. Nevertheless, the emerging trend towards energy saving eclipses market prospects for incandescent lamps, with several governments, including California, Australia, Taiwan, European Union, Ireland, and Canada announcing gradual discontinuation of the energy-guzzling incandescent lamps. The future may witness complete replacement of incandescent lamps by LEDs across all regional markets. Another prominent trend in the lamps market include rapid advancements in next-generation light sources such as Organic light-emitting diodes (OLEDs). OLEDs are expected to become core component of lighting applications, including architectural lighting, general-purpose lighting, industrial lighting, and backlighting.

Europe represents the largest region for lamps worldwide, as stated by the new market research report on Lamps. The United States trails Europe in terms of sales of lamps. Driven by increased demand from non-residential buildings, consumer electronics and motor vehicle industries, demand for LED downlights in the US is expected to exhibit rapid growth over the next few years, providing strong competition to conventional lamps. In terms of growth, Asia-Pacific is projected to be the fastest growing regional market for lamps, with a CAGR of about 2.6% over the analysis period. Rapid increase in demand for energy-efficient light sources in major countries such as China, India, Australia, and Taiwan are key factors driving growth in the Asia-Pacific market.

In terms of product segments, though incandescent lamps presently constitute the largest segment globally, the market for incandescent lamps is expected to decline by 2012, largely impacted by the incandescent-extinction policies in several countries including EU, Australia, Taiwan, China, and California. Demand for incandescent lamps is expected to decline further by 2015, when majority of the global markets would replace incandescent bulbs with energy efficient alternatives. Meanwhile, the lamps market is witnessing rapid growth of LEDs and CFLs. The LED lamps market has been witnessing high growth, primarily due to the introduction of advanced new products. Prominent application areas of LEDs include backlighting color displays in cellular phones, and dashboard lighting. Besides LEDs, the global use of Compact Flourescent Lamps (CFLs) has almost doubled during the first half of the decade. Compared to conventional incandescent lights, CFLs produce less heat, and use 75% less energy for producing the same degree of light. CFL lamps are smaller in size, starts up faster, in addition to being much cheaper.

Major players profiled in the report include Bajaj Electricals Limited, Cooper Lighting, Crompton Greaves Ltd., Epistar Corp., Feit Electric Company, General Electric Company, Havells Sylvania, Iwasaki Electric Co., Koito Manufacturing Co. Ltd., Lights of America, Panasonic Electric Works Ltd., Nichia Corp., Osram GmbH, OSRAM Opto Semiconductors GmbH, Osram Sylvania, Royal Philips Electronics N.V, Philips Lumileds Lighting Company, Surya Roshni Ltd., Toshiba Lighting & Technology Corp., Valeo SA, Valeo Sylvania.

The report titled “Lamp: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Lamps markets, impact of recession on the market, current market trends, major growth drivers, performance of different lamps segments, the gradual displacement of incandescent lamps with LEDs and SFLs, recent product introductions, recent industry activity, and profiles of major and niche market players. The report analyzes market data and analytics in terms of value for regions, including US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key product segments analyzed include Incandescent Lamps, Fluorescent Lamps (including Compact Fluorescent Lamps), Halogen downlights, HID & Other Lamps (including LED Lamps). The report also provides a six-year historic analysis for additional perspective.

For more details about this comprehensive market research report, please visit - http://www.strategyr.com

Source Document: PRWeb