According to the new market research report "Plasma Lighting Market
by Component (Lightron, Waveguide, and Cavity Resonator), Application
(Roadways, Streets, and Tunnels Industrial, and Horticulture), Wattage
(300W, 700W, and 1,000W), and Geography - Global Forecast to 2024",
the plasma lighting market is expected to be worth USD 329 million in
2019 and reach USD 415 million by 2024, at a CAGR of 4.7% from 2019 to
2024. The growth of this market can be attributed to the increasing
awareness across the globe about energy-efficient lighting technologies.
In addition, initiatives by governments of different countries to
encourage the use of energy-efficient lights are also fueling the growth
of the market.
Browse 35 market data Tables and 21 Figures spread through 93 Pages and in-depth TOC on "Plasma Lighting Market"
A few key players operating in the plasma lighting market are Luma Group (US), Ceravision (UK), Hive Lighting (US), Ka Shui International Holdings (China), Green de Corp (China), Gavita (Netherlands), Griffin & Ray (US), Guangzhou Kaiming Industries (China), BIRNS (US) and FusionLux (US).
A few key players operating in the plasma lighting market are Luma Group (US), Ceravision (UK), Hive Lighting (US), Ka Shui International Holdings (China), Green de Corp (China), Gavita (Netherlands), Griffin & Ray (US), Guangzhou Kaiming Industries (China), BIRNS (US) and FusionLux (US).
An industrial segment to hold the largest share of the plasma lighting market in 2019
By
application, the industrial segment will lead the plasma lighting
market in 2019. The increasing awareness about safety and security of
employee is the prime factor behind industrial segment growth. In
industrial settings, safety is a primary concern, and proper and
adequate lighting is a key factor to maintain high productivity of
workers. The improper application of light can result in excessive
lighting, leading to energy wastage. The industrial end users can save
on lighting expenses and conserve energy by using solid-state and other
energy-efficient lighting systems such as LEP.
Europe expected to hold the largest share of the plasma lighting market in 2019
Europe
is expected to hold the largest share of the plasma lighting market in
2019. It is among technologically advanced regions of the world. Several
European countries are taking initiatives to increase the adoption of
energy-efficient, low maintenance, and reliable lighting solutions.
Plasma lights have been used in Europe for the past few decades to grow
plants in commercial greenhouses. The use of plasma lights to grow
plants in this region is gradually increasing from being a supplemental
lighting source to becoming the primary source of light in indoor
farming.
The population of Europe has expanded
rapidly in recent times, and the countries are importing frozen fruits
and vegetables from Africa and Asia. Indoor horticulture is gaining
rapid momentum in some of the major countries of Europe to obtain fresh
produce from local farms. This is expected to generate increased demand
for plasma light systems used in greenhouses in the coming years.
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