Growing Indoor Gardening to Propel Global Plasma Lighting Market
The Global Plasma Lighting Market is valued at USD 363.41 Million in 2021 and is expected to grow by a Compound Annual Growth Rate (CAGR) of 5.1% between 2022 and 2028. Plasma lamps do not have electrodes and gas lamps that use radio frequency (RF) power to ignite the plasma shut off by a flashlight. This lamp contains a noble gas or gas mixture as well as metal halide, sulfur, mercury, and sodium. The electric field within the plasma lighting system accelerates free electrons, colliding with ionized gas and metal atoms. This collision stimulates the atoms of iron and the electrons surrounding the gas, which in turn lead to a higher energy state. When these electrons return to their original state of high energy, they emit photons, resulting in visible light and ultraviolet radiation.
The global market for plasma lighting is driven primarily by the need for energy-efficient lighting systems. Growing indoor gardening that requires lighting that is done for the plants to grow and plasma light has a few advantages over other light. Plasma lamps are very similar to sunlight because of the wide range of plasma light emissions. Plasma lighting has therefore been found to be the best use for indoor agriculture. Plasma lamps provide a full light spectrum and work with plasma light bulbs that enable a quartz lamp to produce a solid light source. The use of plasma lamps can save up to 40% energy, which also saves more than a third of electricity bills. Plasma lamps provide full spectrum light by maintaining a high level of efficiency and removing the limit of exposure to a limited LED frame. In addition, plasma lamps are twice as efficient as LEDs on the market. The growing construction of data center operations worldwide is another reason why the Plasma Lighting Market has had such a positive impact. The increase in computer system capacity generates more heat and its efficiency requires sufficient temperature, which is why the market will grow Plasma Lighting in the forecast period as they produce less heat on their own. The growing power of data in today's world demands a large number of data centers to be built by various companies.
The Global Plasma Lighting Market is segmented on the basis of company type into tier 1 - 55%, tier 2 - 20%, and tier 3 - 25%. Based on the application, the market is divided into industries, agriculture, sports and recreation, roads, trails, and others. Europe is expected to have had the largest share in the plasma lamp market in 2021. It is one of the most technologically advanced regions in the world. Several European countries are taking steps to increase the adoption of energy-efficient, low-maintenance and reliable lighting solutions. Plasma lamps have been used in Europe for the past few decades to grow plants in nurseries. The use of plasma lamps to grow plants in this region is slowly growing from being an additional source of light to being a major source of light for indoor cultivation.
Some of the major players operating in the Global Plasma Lighting Market include - Hive Lighting (US), LUMA Group (US), Ka Shui International Holdings (China), Ceravision (UK), and Green De Crop (China).
Browse the full Report - Plasma Lighting Market by Component (Lightron, Waveguide, Cavity Resonator), by Application (Roadways Streets and Tunnels, Industrial, Horticulture, Sports & Entertainment), by Wattage (300W, 700W, 1000W), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)