Solid state and Other Energy efficient Lighting Market
Solid state and Other Energy efficient Lighting
Market Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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Solid state and Other Energy efficient Lighting Market Size and Growth
The Solid State and Other Energy Efficient Lighting market is witnessing robust growth, driven by increasing energy efficiency demands and sustainability initiatives. As of 2023, the market size is estimated at $50 billion, with a projected CAGR of 10% over the next five years, signaling significant opportunities for innovation and investment.
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Companies Covered
(Covid 19 Impact Covered)
◍ Phillips Lighting Holding
◍ OSRAM Licht
◍ ABB(Cooper Industries)
◍ Dialight
◍ Samsung
◍ General Electric
◍ Cree
◍ Virtual Extension
◍ Zumtobel Group
◍ Sharp
The solid-state and energy-efficient lighting market is competitive, featuring companies like Philips, OSRAM, ABB, and others innovating in LED technology. These firms enhance market growth through sustainable solutions and technological advancements. Notable sales figures include:
- Philips: ~€7 billion in 2022
- OSRAM: ~€3.5 billion in 2022
- General Electric: ~€15 billion in lighting sales.
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Market Segmentation
By Application
Industrial Lighting
Commercial Lighting
Residential Lighting
Automotive Lighting
Others
By Product
◍ Solid-State Lighting
Hid Lighting
Plasma and Induction Lighting
Fluorescent Lighting
Others
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Market Growth
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$ 4.70 Billion
