Lighting is one of the major energy ends uses, which accounts for approximately 20-30% of electricity consumption in buildings. The fluorescent lamp is the most employed in the lighting system. The fluorescent lamp was first developed in the 1930s. The ballast is one of the major components of fluorescent lamps. It exists commercially as an electromagnetic ballast, a low-loss ballast, and an electronic ballast. An electrical ballast is a device intended to limit the amount of current in an electric circuit. Ballasts are utilized in fluorescent lighting to limit the flow of current through the tube. If a ballast was not used, the current would rise to levels that would destroy the fluorescent tube rendering it useless. To reduce energy consumption in lighting electronic ballasts are used. However, when the electronic ballast functions, harmonics will be generated. The efficiency indices in terms of illumination, energy saving, and harmonics are also evaluated and compared with the florescent T8 lamp operating with a low-watt loss electromagnetic ballast, which is also widely used. Energy efficient lamps are of two types Compact Fluorescence Lamps (CFL) and Light Emitting Diode (LED) Lamps. These are the most common types of energy-saving lamps. They use 75% less power and last 10-15 times as long as an ordinary bulb.
The regulation guiding lights changed to promote the use of common energy efficient lighting types as it became more recognized that the traditional incandescent used almost 90% more energy, creating a problem in landfills. The new energy efficient lighting types present a spectrum of lighting that suits better vision and health in the home or office. Switching to one of the common energy efficient lighting types is easier, and more affordable than ever.
Global Energy Efficient Lamps and Ballasts Market – Competitive Landscape
On October 12, 2023, Mojo Vision the high-performance micro-LED company announced of its USD 43.5 million new series A investment round to advance its micro-LED display technology. On March 17, 2021, the Global private investment firm announced that they completed the acquisition of Universal Lighting Technologies and Douglas Lighting Controls from parent company Panasonic Corporation for market innovative LED lighting.
Some of the Key Players in Global Energy Efficient Lamps and Ballasts Market Include –
Global Energy Efficient Lamps and Ballasts Market – Growth Drivers
Energy efficient lamps and ballasts can lead to significant cost savings over time due to lower energy consumption and longer lifespan making them attractive to both consumers and businesses. According to the National Center for Biotechnology Center (NCBI) replacing 36 W T8 fluorescent lamps with a 20 W LED, would save around USD 288 saving in 5 years. Many utilities offer incentives and rebates to customers who install energy efficient lighting. Ongoing developments in LED and CFL technology have made energy efficient lighting more affordable and promoted market growth. The growing demand for green and sustainable building design often includes energy efficient lighting as a key component. Consumers become more aware of energy efficient lighting so demand for such products increased. Retrofitting existing lighting systems with energy efficient solutions is a cost-effective way to improve energy efficiency. With the use of retrofitting saving energy is around 44% with a Payback of 4.01 years and using a T5 tube with electronic ballast saves 22% energy with a payback period of 3.8 years. Government regulations and standards aimed at reducing energy consumption and greenhouse gas emissions often drive the adoption of energy efficient lighting solutions.
Global Energy Efficient Lamps and Ballasts Market – Restraints
Energy efficient lighting technologies, such as LEDs can have higher upfront costs compared to traditional lighting solutions, which may deter some potential buyers. LED bulbs can cost around USD 5 to USD 7 whereas incandescent bulbs cost around USD 2 to USD 3 Some consumers and businesses may not be fully informed about the benefit of energy efficient lighting. Retrofitting existing lighting systems with energy efficient lamps and ballast can be complicated and may require additional modification which makes it less attractive to some consumers. In mature markets, the most energy efficient technologies may already have been adopted, leaving fewer opportunities for significant growth. Some consumers may still prefer warm or specific lighting like halogen bulbs over new technologies. A highly competitive market and saturation of energy efficient lighting options can lead to pricing pressures and lower profit margins for manufacturers.
Global Energy Efficient Lamps and Ballasts Market – Opportunities
The adoption of energy performance contacts (ESCOs) by governments and organizations can drive the implementation of energy efficient lighting on a larger scale. There is growing demand for energy efficient lighting in commercial and industrial sectors offering substantial opportunities for lighting manufacturers. Long-term energy savings associated with energy efficient lighting can be a strong selling point, particularly for businesses seeking to reduce operational expenses. Growing environmental awareness and the desire to reduce carbon footprints contribute to market opportunities for energy efficient lighting.
Global Energy Efficient Lamps and Ballasts Market – Geographical Insight
The market for energy efficient lamps and ballasts is segmented into regions such as North America, Latin America, Europe, the Middle East &Africa. The largest market for energy efficient lamps and ballasts is the European region holding the maximum revenue, presence of maximum manufacturers, high production of energy efficient lamps, and strict energy efficiency regulations in the region. The North American market including the United States and Canada has seen substantial growth in energy efficient lighting due to strict regulation, utility incentives, and a strong focus on sustainability. In the Asia-Pacific region, countries like China and India represent significant growth markets due to increasing demand for energy efficient lighting.
Global Energy Efficient Lamps and Ballasts Market – Key Development
Energy Efficient Lamps and Ballasts Market
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