Fluorescent Lighting Market: Global Industry Analysis, Trends and Forecast 2023-2029

Fluorescent Lighting Market was valued at US$ 7.35 Bn. in 2022 and is expected to reach US$ 14.61 Bn. by 2029, at a CAGR of 10.3% during a forecast period.
Fluorescent Lighting Market Overview:
Fluorescent Lighting Market was valued at US$ 7.35 Bn. in 2022. Fluorescent lighting is a versatile type of lighting that is distinct from traditional lighting. Fluorescence is used to generate bright visible lights. This glass lamp or tube comprises gases, mercury, and chemicals to create UV light that is invisible to the naked eye. The advantages of these lamps are that they are more energy efficient than incandescent bulbs. They are substantially colder and have minimal heating capabilities. Inside the lamp, there is phosphor powder that is ignited when light travels through the glass. In total, the fluorescent lights have two mechanisms. These lights have a starter witch and a magnetic blaster. Fluorescent lights are being used in a variety of applications.To know about the Research Methodology :- Request Free Sample Report
COVID-19 Impact on Fluorescent Lighting Market:
The COVID 19 pandemic is causing significant shifts in world markets. Fluorescent lighting is a type of illumination that is both energy-efficient and functional. They are less expensive than LED lights. During this time, however, the fluorescent lighting sector is experiencing supply chain instability. The market is suffering as a result of the lockdowns and limitations. Since 2022, market activities have been sluggish, resulting in a low demand rate. It is tough to manufacture new lights during this time period. The fluorescent lighting market's manufacturing rate is declining. The shutdown of manufacturing plants in the United States and China is a setback for the market. Less cash flow means fewer market operations. Many merchants, though, are keeping their markets open in some capacity.
Fluorescent Lighting Market Dynamics:
The rising need for energy-efficient lighting is a major driving force in the fluorescent lighting market. The public is more aware than ever of the importance of energy-efficient lighting. It grows the fluorescent lighting market's demand and supply potential. Fluorescent lights are environmentally friendly since they do not overheat and do not hurt the environment in any manner. Its advantages include high energy efficiency and a natural lighting procedure. Due to cost effectiveness, it is a light market with great demand. They are less expensive than LED, halogen, and incandescent lights. The low-cost advantages will increase demand in emerging economies.

Benefits of Fluorescent LED Lights:

1. Energy saving: The wattage of a four-foot LED tube typically varies from 12 to 20 watts, resulting in a 40-60% reduction in energy use. Because of the requirement to respond to the many various uses of fluorescent lighting, the LED bulb wattage range is so wide. Indoor LED fluorescent light applications typically use between two and four lamps per fixture. It is feasible to save up to $2,692 per year for a room currently employing fluorescent light fixtures by using LED fluorescent tube replacements in these fixtures.

2. Maintenance Cost Reduction: When compared to typical fluorescent light fixtures, the way LEDs emit light and go through their useful life results in a substantially longer working life. Another advantage of LED fluorescent tube replacements is that they are not adversely affected by cycling (turning on and off), making them more reliable in settings where lighting is regularly turned on and off.

3. Lighting Performance: Moving on to how LED lights "DISTRIBUTE" light, LED fluorescent bulb replacements frequently give a highly uniformly spread light pattern due to the multi-point architecture. In terms of LED versus fluorescent, the consequence is a more uniform foot candle distribution from the LED conversion. LEDs, in addition to providing even light dispersion, are available in a variety of colour temperatures, providing a variety of options for increasing the optical experience of "brightness."

The fluorescent lighting market is in high demand due to its environmental friendliness. These lights do not overheat or harm the environment. However, in order to produce light, they may require dangerous chemicals and pollutants. The usage of harmful materials is a stifling element in the fluorescent lighting sector. As a result, the use of these lights in offices and restricted spaces may reduce. End users who are concerned about the environment can reduce their use in a home setting. Household demand is driving the market's explosive growth. However, declining demand from major end users may hamper growth. Because of the low growth rates and demand, there may be a shortage of fluorescent lights.
Fluorescent Lighting Market segment analysis:
Based on type, compact fluorescent lamp (CFL) segment held largest market share of xx% in 2022. The growth can be attributed to the wide availability of CFLs in a variety of shapes and sizes to suit diverse applications. CFLs often have screw bases and inbuilt ballasts; these are popular lights that are frequently utilised in domestic fixtures. CFLs utilise around 75% less energy than incandescent lamps. CFLs are also the most efficient and cost-effective in regions where lighting is required for extended periods of time, which leads to market growth.

Based on Application, General Lighting segment held largest market share of xx% in 2022. General lighting is further subdivided into residential lighting, commercial lighting, industrial lighting, and other categories. Fluorescent lighting is commonly utilised in residential settings to replace halogen and incandescent bulbs. They provide shadow-free lighting in residential applications, and because they are available in any size and form, they can be easily integrated into ceiling lights, sconces, and table lamps, contributing to the growth of the fluorescent lighting market in residential applications. Furthermore, compact fluorescent lights are frequently employed in commercial applications for hallway sconces in hotels and condominium associations, workplaces, schools, and grocery stores, which is pushing market growth.
Fluorescent Lighting Market Regional Insight:
The United States and Canada are major contributors to the market's growth. The large presence of significant manufacturing enterprises across the region is related to the region's growth. In addition, the frequent deployment of fluorescent lamps in a variety of end-user applications to save energy is propelling market growth in the area. The important variables for widespread adoption are low cost and great brightness. During the forecast period, there will be a considerable demand for offices and other commercial units. All of these elements will result in high revenue rates. North America is a developed region that makes greater use of fluorescent lights. This region has a greater understanding of its benefits. This entire regional player will make the greatest contribution to growth.

The objective of the report is to present a comprehensive analysis of the Fluorescent Lighting market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants.

PORTER, 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 the Fluorescent Lighting market dynamics, structure by analyzing the market segments and projects the Fluorescent Lighting market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Fluorescent Lighting market make the report investor’s guide.
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Fluorescent Lighting Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 7.35 Bn.


Forecast Period 2023 to 2029 CAGR:
10.3%
Market Size in 2029:
US$ 14.61 Bn.


 Segments Covered:
by Type
• Compact Fluorescent Lamp
• Linear Fluorescent Lamp
• Cold Cathode Fluorescent Lamp


by Installation
• Retrofit
• New Installation


by Application
• General Lighting
o Commercial Lighting
o Residential Lighting
o Industrial Lighting
o Outdoor Lighting
• Medical Lighting
o Surgical & Treatment Lighting
o General/Mounted Lighting
• Others



Fluorescent Lighting Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Fluorescent Lighting Market, Key Players are:
• Eastar Lighting
• Eaton
• Emerson Electric Co.
• Interlectric Corporation
• LAMAR LIGHTING COMPANY, INC
• LDPI, Inc.
• OSRAM GmbH
• Panasonic Corporation
• Schneider Electric
• GENERAL ELECTRIC
• Energy Focus
• SORAA
• Acuity Brands Lighting, Inc
• LEDVANCE GmbH
• Koninklijke Philips N.V
• Semiconductor Co., Ltd
• Intematix Corporation
• Technical Consumer Products, Inc
• AFX, Inc
• Amerlux,LLC
• Hubbell
• Visa Lighting
• Waldmann Group

Frequently Asked Questions:

1. Which region has the largest share in Fluorescent Lighting Market?
Ans: North America region holds the highest share in 2022.

2. What is the growth rate of Fluorescent Lighting Market?
Ans: The Fluorescent Lighting Market is growing at a CAGR of 10.3% during forecasting period 2023-2029.

3. What segments are covered in Fluorescent Lighting market?
Ans: Fluorescent Lighting Market is segmented into type, installation, application and region.

4. Who are the key players in Fluorescent Lighting market?
Ans: The important key players in the Fluorescent Lighting Market are – Eastar Lighting, Eaton, Emerson Electric Co., Interlectric Corporation, LAMAR LIGHTING COMPANY, INC, LDPI, Inc., OSRAM GmbH, Panasonic Corporation, Schneider Electric, GENERAL ELECTRIC, Energy Focus, SORAA, Acuity Brands Lighting, Inc, LEDVANCE GmbH, Koninklijke Philips N.V, Semiconductor Co., Ltd, Intematix Corporation.

5. What is the study period of this market?
Ans: The Fluorescent Lighting Market is studied from 2022 to 2029.