Plasma Lighting Market
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)
|Plasma Lighting Market Forecast Year:||2022 - 2028|
|Plasma Lighting Market Historical Year:||2016 - 2021|
|Plasma Lighting Market 2021:||USD 363.41 Million|
|Plasma Lighting Projected Market 2028:||USD 514.77 Million|
|Plasma Lighting Market CAGR:||5.1%|
|Fastest Growing Region:||Asia Pacific|
Plasma Lighting Market: By Component, Application, Wattage and Region
Global Plasma Lighting market is valued at USD 363.41 Million in 2021 and is projected to attain a value of USD 514.77 Million by 2028 at a CAGR of 5.1% during the forecast period, 2022–2028.
Various factors are expected to drive the Plasma Lighting market globally. Bending and twisting light by multiple reflections on non-reflecting surface, which is offered by plasma lamps, has resulted in wide usage of these lights across various applications. Plasma lamps allow bending and shaping of light to achieve desired results. They also provide flicker-free output thereby eliminating vision problems associated with flickering lights. Thus, increasing demand for Plasma Lighting worldwide is attributed to their unique benefits over traditional lighting technologies (such as incandescent lamps).
Market Size Provided for Years
Region & Counties Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Global Plasma Lighting market is segmented into, component, application, and region. Based on component market is segmented into, lightron, waveguide, and cavity resonator). Based on application market is segmented into, roadways, streets, and tunnels industrial, and horticulture. Based on wattage market segmented into, 300W, 700W, and 1,000W.
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Plasma Lighting Market is Witnessing Increasing Demand Due to their Energy Efficient and Eco-friendly Properties
Being eco-friendly products, plasma lamps consume less power compared to other light sources such as fluorescent tubes or CFLs. This helps reduce electricity consumption considerably leading to low cost of operations besides enhanced productivity rate offering better return on investments. In addition, plasma lamps have a long-life cycle with up to 50,000 hours of usage and if replaced every 3 years then the total replacement cost will be around $60 said a lighting expert at a reputed LED company in China.
On the flip side, these lamps are slightly expensive to buy initially when compared to other light sources such as CFLs or incandescent lamps due to which demand from price-sensitive countries is relatively less. However, energy savings achieved by use of plasma lamps helps reduce expenditure on electricity bills leading to their popularity among various end-use industries over traditional lighting solutions.
Increasing Application of Plasma Lighting in Horticulture is Paving the Way for Plasma Light Market
One of the most popular forms of indoor cultivation is year-round horticulture production under artificial light sources. This form of cultivation has experienced rapid development over recent decades as a result of increasing demand for fresh vegetables produced out-of-season and the need to meet consumers’ demands for uniform products, high quality and short distance from field to table.
Plasma Lighting has become a popular choice for horticultural growers in recent years. The advantages of the technology are its high efficacies, low energy costs and minimal maintenance requirements. One plasma lamp can replace many fluorescent tubes or HIDs while still giving excellent growing results. Moreover, this technology produces no ultraviolet light, so there are no quality concerns about the product. Furthermore, most plasma lamps have a long lifetime with an average of about 50 000 h. This is especially important for large-scale horticulture projects where costs are very high due to electricity bills and lamp replacement/maintenance expenses. It can be estimated that by using this technology in place of traditional lighting systems, it would reduce capital investments by nearly 45%.
Europe to Lead the Global Plasma Lighting Market
The widespread adoption of Plasma Lighting in greenhouses and warehouses across the Europe has increased demand for plasma lights sharply. This trend is expected to continue until 2028, as more growers turn to this technology to satisfy the insatiable global demand for fresh vegetables and fruits produced out-of-season.
Meanwhile, Europe remains one of the largest consumers of such lamps, mainly due to the high-quality standards required by European consumers and strict food safety regulations. These factors have created a very high demand for fresh produce produced under strict hygienic conditions. Consequently, much attention has been paid to controlling light exposure and reducing atmospheric pollution (e.g., HID gases) through the employment of clean technologies such as Plasma Lighting . Furthermore, regulators are frequently urged to raise the standards of food production in order to better protect consumers from dangerous pathogens. In fact, many studies by independent scientists confirm that plasma lamps reduce atmospheric pollution and help prevent the spread of contaminants such as bacteria and fungi within indoor Agri-cultures.
Some of the key players in the global Plasma Lighting market are Hive Lighting (US), LUMA Group (US), Ka Shui International Holdings (China), Ceravision (UK), and Green De Crop (China).
The Plasma Lighting is Segmented as Follows:
Frequently Asked Questions
the global demand for Plasma Lighting
in terms of revenue?
The global Plasma Lighting valued at USD 363.41 Million in 2020 and is expected to reach USD 514.77 Million in 2028 growing at a CAGR of 5.1%
are the prominent players
in the market?
The prominent players in the market are Hive Lighting (US), LUMA Group (US), Ka Shui International Holdings (China), Ceravision (UK), and Green De Crop (China). .
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.1% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Plasma Lighting include
- Energy Efficient and Ecofriendly Properties
region accounted for the
largest share in the market?
Europe was the leading regional segment of the Plasma Lighting in 2020.