General Lighting Global Market Report 2022

Major players in the general lighting market are Schneider Electric, Panasonic, Koninklijke Philips N.V., GENERAL ELECTRIC, Acuity Brands, Cree Inc., Eaton, Bridgelux, and Citizens Electronics.

The global general lighting market is expected to grow from $80.66 billion in 2021 to $88.89 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $125.05 billion in 2026 at a CAGR of 8.9%.

The general lighting market consists of sales of ambient lighting and related services used for lighting indoors of a household, commercial, institutional sites.General lighting includes chandeliers, ceiling or wall-mounted fixtures, recessed or track lights and lanterns mounted on the outside of the home.

It also includes wall lighting, spotlights, post lanterns, recessed fixtures, and hanging fixtures used in hanging structures.

The main product types of general lighting are LED, CFL, LFL, HID, halogens, incandescent and others.The incandescent light bulb generates light by heating a wire filament to a temperature that causes light to be produced.

A translucent glass bulb, either filled with inert gas or evacuated, surrounds the metal wire (a vacuum). The various applications include general lighting, automotive lighting, backlighting and others that are used by residential, commercial, outdoor, industrial and other end-users.

Asia Pacific was the largest region in the general lighting market in 2021.North America was the second-largest region in the general lighting market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The continuous increase in the rate of construction activities increases the demand for general lighting globally.Lighting equipment is required in office spaces and apartment and with increasing construction activities, the requirement for such lighting also increases.

According to a report by Global Construction Perspectives and Oxford Economics, the global construction market is forecast to grow by over 70% by 2025. The increase in demand for construction activities will have a positive impact on the growth of the general lighting market.

The general lighting market is restricted due to the harmful effects of LEDs (Light Emitting Diode) on human health.LEDs use shortwave light, often called “cool” in colour.

The prolonged continuous exposure to this light may be enough to damage a person.According to the French Agency for Food, Environmental and Occupational Health & Safety (ANSES), the blue lights which are being used in households, offices, headlights, torches, toys and street lighting can damage the eye’s retina while disturbing biological and sleep rhythms.

Due to these harmful effects, the ANSES recommended manufacturers of lighting solutions for vehicles to limit the luminous intensity of vehicle headlights. The harmful effects of LEDs on health thereby restricts the growth of the general lighting market.

Companies are increasingly using Li-fi (Light Fidelity) network to manufacture general lighting equipment.Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission.

The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission with speeds up to 224 gigabits per second.Keeping up with the trend, in 2019, Signify, the world leader in lighting has introduced a new line of LiFi systems that includes the world’s fastest and most reliable commercially available LiFi systems.

In 2020, Philips Lighting, a Netherland based electrical provider, launched an Internet of Things (IoT) platform and connected lighting system. LEDs and sensors are used in LiFi technology to wirelessly transmit data to computers and tablets via light waves.

In 2019, Ideal Industries Inc., a U.S based producer of the electrical and telecommunications components, acquired Cree, Inc. for $310 million. The acquisition involved Ideal Industries control of Cree’s LED lighting fixtures, lamps and intelligent lighting control solutions. The acquisition will help Ideal industries to enrich its product line offerings. Cree Inc. is a U.S based manufacturer and marketer of lighting-class LEDs, lighting products and products for power and radio frequency applications.

The countries covered in the general lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.