Market Research Future (MRFR) has published on the “Global Arc-Based Plasma Lighting Market”.
The arc-based plasma lighting market is estimated to register a CAGR of 2.50% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global arc-based plasma lighting market— ams-OSRAM AG, Signify Holding, Ushio Inc., Excelitas Technologies Corp., and Hamamatsu.
Arc Based Plasma Lighting Market Highlights
The global arc-based plasma lighting market is accounted to register a CAGR of 2.50% during the forecast period and is estimated to reach USD 0.75 billion by 2032.
The demand for specialty lighting is on the rise, driving increased sales across various market segments. Specialty lighting solutions cater to specific needs such as horticulture, sports arenas, and film production, where unique lighting requirements exist. As industries evolve and consumers seek customized experiences, the demand for specialty lighting continues to grow. These lighting solutions offer tailored features like adjustable color temperatures, precise beam control, and enhanced durability, meeting the diverse needs of different applications. With advancements in technology and increasing awareness of the benefits of specialty lighting, manufacturers are poised to capitalize on this trend, experiencing heightened sales and market traction in the specialty lighting segment.
Segment Analysis
The global arc-based plasma lighting market has been segmented by light source, wattage type, and application.
Based on light source, the market is segmented into xenon arc lamps, metal halide lamps, krypton arc lamps, mercury vapor lamps, and deuterium lamps. The xenon arc lamps segment was attributed to holding the largest market share in 2023 because of their exceptional performance in a range of applications, including solar simulation, vehicle lighting, and entertainment. Their extensive range, elevated level of intensity, and extended longevity render them a favored option for a multitude of sectors.
Based on wattage type, the global arc-based plasma lighting market has been segmented into Below 500 W, 501 W to 1500 W, and Above 1500 W. The below 500 W segment was expected to hold the largest market share in 2023 because of its adaptability and fit for a variety of situations, including both home and business ones. Adoption is also fueled by their affordability and energy efficiency in a variety of industries.
Based on application, the global arc-based plasma lighting market has been segmented into entertainment & projection, searchlight & spotlight, solar simulation and environmental testing, spectroscopy, medical lighting, microscopic lights, UV applications, and others. The entertainment & projection segment was expected to hold the largest market share in 2023 as interest in immersive experiences at events, theatres, and movie theatres increases. High-performance lighting solutions are also becoming more and more necessary due to worldwide entertainment industries' expansion and projection technology improvements.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Arc-Based Plasma Lighting Market Research Report
Regional Analysis
The global arc-based plasma lighting market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe arc-based plasma lighting market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The arc-based plasma lighting market in Asia-Pacific has been divided into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World arc-based plasma lighting market comprises the Middle East, Africa, and Latin America.
The largest market share for arc-based plasma lighting was maintained by the North American regional sector. Sales of arc-based plasma lighting are poised to surge in North America due to stringent energy efficiency regulations, driving demand for sustainable lighting solutions. Additionally, the region's robust infrastructure development and focus on smart city initiatives present opportunities for the integration of arc-based plasma lighting in urban lighting systems. Moreover, the growing trend of architectural lighting and emphasis on creating immersive experiences in entertainment venues contribute to increased adoption. Furthermore, the region's strong presence of key players and investments in research and development foster innovation, enhancing the performance and attractiveness of arc-based plasma lighting solutions in the market.
Moreover, in Europe, the sales of arc-based plasma lighting are expected to increase due to the region's commitment to sustainability and environmental conservation. Strict regulations promoting energy-efficient lighting solutions propel the demand for arc-based plasma lighting, which is known for its high efficiency and long lifespan. Moreover, the region's focus on historic preservation and architectural lighting drives the adoption of advanced lighting technologies like arc-based plasma lighting for accentuating landmarks and heritage sites. Additionally, the growing popularity of smart lighting solutions in urban areas and the emphasis on creating visually appealing outdoor environments contribute to the market growth.
In the Asia Pacific region, arc-based plasma lighting sales are set to soar, driven by rapid urbanization and infrastructure development. As countries in the region continue to modernize their cities, there is a growing need for energy-efficient and high-performance lighting solutions. Arc-based plasma lighting's ability to provide bright and uniform illumination makes it well-suited for outdoor applications such as street lighting and architectural illumination. Additionally, the region's thriving entertainment industry and increasing demand for immersive experiences fuel the adoption of arc-based plasma lighting in theaters, theme parks, and event venues.
Furthermore, the rest of the world's arc-based plasma lighting market is divided into the Middle East, Africa, and Latin America. Sales of arc-based plasma lighting are anticipated to rise in Latin America due to the region's focus on modernizing infrastructure and enhancing energy efficiency. Governments across Latin America are implementing initiatives to improve public lighting systems, creating opportunities for the adoption of advanced lighting technologies like arc-based plasma lighting. In the MEA region, the sales of arc-based plasma lighting are expected to increase due to the region's focus on infrastructure development and urban beautification projects. Governments and municipalities are investing in upgrading public lighting systems to enhance safety and aesthetics, creating opportunities for arc-based plasma lighting adoption.
Key Findings of the Study
- The global arc-based plasma lighting market is expected to reach USD 0.75 billion by 2032, at a CAGR of 2.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to technological advancements, demand for specialty lighting, and focus on human-centric lighting.
- Based on the light source, the xenon arc lamps segment was attributed to holding the largest market in 2023.
- Signify Holding, ams-OSRAM AG, Ushio Inc., Excelitas Technologies Corp., and Hamamatsu are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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