It has been estimated that lighting applications account for more than 20% of the global electricity consumption, and this has led several countries across the globe to frame policies that ban the use of inefficient lighting sources and promote the use of efficient lighting sources through subsidies and tax incentive programs. For instance, the Custom Energy Rebate Program announced by the Elk River Municipal Utilities (ERMU) of Orono, US, offers rebates to customers who purchase and install energy-efficient lighting solutions in new buildings. Even electric utility companies such as Minnesota Valley Electric Cooperative in Jordan, US, have announced lighting retrofit rebate programs that offer rebates on the purchase and installation of energy-efficient lighting products in existing buildings. The rapid depletion of non-renewable energy and the growing awareness on global warming among all countries across the globe will result in the introduction of new policies and subsidies, which will demand the use of energy-efficient lamp ballasts during the predicted period.
The continuous decline in the average selling price of chips and components used during the manufacturing process of LED devices has resulted in the decrease in manufacturing cost of LEDs. Market research analysts at Technavio predict that this decline in manufacturing costs will continue in the coming years and will lead to a decline in the initial installation cost of LED lights and fixtures. This recent decrease in the cost of installation will propel the adoption and installation of LED lamps across all residential and commercial projects.
Competitive landscape and key vendors
Though the market is characterized by the presence of well-diversified international and regional vendors, the local vendors are finding it difficult to compete with international players who outshine them in terms of quality, technology, and price. As a result, international lighting ballast manufacturers are increasing their footprint in the market. An increase in product/service extensions, innovations in technology, and M&A activities is expected to intensify the level of vendor competition in the market in the next four years. International players will also start acquiring regional vendors and grow inorganically during the forecast period.
The leading vendors in the market are -
Advanced Lighting Technologies
Atlas Lighting Products
Technical Consumer Products
Universal Lighting Technologies
Venture Lighting International
Geographical segmentation and analysis of the lighting ballasts market
This market study estimates that, in terms of geography, APAC accounted for almost 42% of the total share of the lighting ballasts market and dominated this industry during 2015. Owing to the increased application of lighting devices in residential applications, the general lighting market in APAC is growing at a rapid rate. Moreover, the availability of low-cost labor and raw materials is attracting several manufacturers from across the globe to start manufacturing units in APAC. As a result, the region is becoming a hub for several industries, which, in turn, will increase the demand for lighting fixtures from the commercial segment as well.
Growth drivers, challenges, and upcoming trends: Smart cities
The development of smart cities is considered to be one of the major factors that will have a positive impact on the growth of the lighting ballasts market. Smart lighting helps conserve energy and reduce operational cost and is an important aspect for the construction of smart cities. Governments have started announcing strategic partnerships with lighting manufacturers to install intelligent lighting systems and also to replace conventional street lights with automated energy-efficient LED lights.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global lighting ballasts market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the lighting ballasts market?
What are the key market trends impacting the growth of the lighting ballasts market?
What are the challenges to market growth?
Who are the key vendors in the lighting ballasts market?
What are the market opportunities and threats faced by the vendors in the lighting ballasts market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the lighting ballasts market?
Technavio also offers customization on reports based on specific client requirement.
An electrical ballast is a control device that is intended to limit the amount of current in an electric circuit. In fluorescent lighting systems, the ballast regulates the flow of current to the lamps and provides sufficient voltage to start the lamp. While starting a lamp, the ballast briefly supplies high voltage current to establish an arc between the lamp electrodes. Once the arc is established, the ballast rapidly reduces the voltage and regulates the current flow to produce a steady light output.
The report, global lighting ballast market, is part of Technavio’s hardware and semiconductor research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as computing devices, displays, embedded systems, human machine interface, lighting, semiconductor equipment, and sensors. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.