Fluorescent Lighting Market Size Expected to Grow at a CAGR over 9.48% from 2024 to 2032

Pune, India, October 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Fluorescent Lighting Market.

Market Highlights

The global market for fluorescent lighting was valued at USD 7.209 billion in 2023; it is expected to reach USD 16.506 Billion by the end of the forecast period at a CAGR of 9.48%. fluorescent lighting technology is mainly used for energy efficiency, long light life, and cost savings. Government initiatives regarding smart lighting and energy efficiency and in the increasing adoption of long-life lighting products are expected to drive the market during the forecast period.

Key Players

The key players in the fluorescent lighting market are OSRAM Licht AG (Germany), General Electric Company (US), Panasonic Corporation (Japan), Schneider Electric SE (France), Bridgelux (US), Cree Inc. (US), Nichia Corporation (Japan), Dialight PLC (US), Eaton Corporation Inc. (US), Emerson Electric Co. (US), Everlight Electronics Co Ltd (Taiwan), Toshiba Lighting and Technology (Japan), and Koninklijke Philips NV (Netherlands) among others.

Regional Analysis

The market in Asia-Pacific is expected to register the highest CAGR during the forecast period due to a number of smart city initiatives, growing residential construction market, and many other development projects. China, Japan, Taiwan, and India are expected to dominate the market, and Australia, Singapore, and New-Zealand are expected to grow at a steady rate during the forecast period. Europe is expected to dominate the fluorescent lighting market during the forecast period. Government initiatives toward energy-efficient systems and the presence of global players such as OSRAM Licht AG and Schneider Electric SE are expected to drive the market in Europe. The markets in Germany, the UK, the Netherlands, Sweden, Italy, and France are expected to grow at a high rate during the forecast period. However, Portugal, Norway, Switzerland, and the Rest of Europe are expected to grow at a stable rate during the forecast period. The markets in the Middle East and Africa and South America are expected to grow at a stable rate during the forecast period.

Segmental Analysis

By type, the fluorescent lighting market has been segmented into linear fluorescent lamps (LFL), cold cathode fluorescent lamp (CCFL), and compact fluorescent lamps (CFL). The CFL segment has been further segmented into plug-in CFL, integral CFL, adapter CFL, screw-based CFL, and pin-mounted CFL. By installation, the fluorescent lighting market has been segmented into new installation and retrofit. By application, the fluorescent lighting market has been segmented into residential, commercial, and industrial. By region, the fluorescent lighting market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.