M a r k e t N e w s

Global Lighting Ballasts Market to Witness Growth Opportunities in APAC Through 2020, Says Technavio

Posted on : Saturday, 27th August 2016

 The global lighting ballasts market 2016-2020 is expected to decline from 1,403 units in 2016 to 872.7 units in 2020, according to Technavio’s latest report

 
In this report, Technavio covers the market outlook and growth prospects of the global lighting ballasts market for 2016-2020. The report presents the major vendors that manufacture lighting ballast in regions such as the Americas; Asia-Pacific (APAC); and Europe, the Middle East, and Africa (EMEA). It discusses the major drivers that influence the market's growth, the challenges faced by the vendors and the market as a whole, and the key emerging trends in the market.
 
“In terms of geography, the majority of the growth is expected from APAC primarily because of increasing focus on energy-efficient lighting sources. Rising energy cost in APAC has shifted the focus of government from cost-effective lighting sources to energy-efficient lighting sources. As a result, countries in APAC are initiating several energy-efficient programs to support and promote the use of energy-efficient LED lighting sources in the region. This will increase the installation of new LED lamps and luminaires, thereby accelerating the unit shipment of LED ballast in the region,” says Sunil Kumar Singh, a lead lighting research expert from Technavio.
 
Technavio’s hardware and semiconductor research analysts segment the global lighting ballasts market into the following regions:
 
APAC
EMEA
Americas
 
In 2015, with a market share of over 41%, APAC dominated the global lighting ballasts market, followed by EMEA with approximately over 31% and the Americas with 28%.
 
APAC: increased use of lighting ballasts in residential and commercial segments
 
The general lighting market in APAC is growing at a rapid rate, primarily owing to the increased use in residential and commercial segments. The region is becoming a hub for industries such as the retail, hospitality, and healthcare, and many international companies are establishing their offices in the region. In addition, developing countries such as China, India, and South Korea are expected to see many international events being organized during the forecast period. These factors are expected to propel the demand for general lighting solutions in the region.
 
Although the lighting ballasts market is declining across all the regions, APAC still presents the highest growth opportunity for the market. This is because of rapid urbanization and increasing focus on improving infrastructure by the governments of developing countries such as India. Countries such as India and China are providing tax incentives to LED lighting manufacturers to increase their LED production capacity. They are also providing subsidies to customers for installing energy-efficient lighting products in new buildings.
 
EMEA: significant demand for professional lighting solutions in MEA
 
In 2015, EMEA was the second largest contributor to the global lighting ballasts market. However, Europe is seeing slow growth in the market as the debt crisis has made many regional economies unstable and countries are still seeing slower economic growth. The economic crisis has reduced the construction of houses and the number of offices being opened in the region, which is further affecting the growth of the market. However, Europe will recover its economic stability during the forecast period, which indicates positive growth for the market during the forecast period.
 
In 2015, the majority of the growth in Europe came from countries such as Germany, Italy, France, the UK, and Turkey. However, Spain, Portugal, Finland, and Norway are considered hotspots for the global lighting ballasts market in Europe during the forecast period.
 
The European Union has established a framework called Ecodesign Directive, which focuses on improving the energy efficiency of products and removing inefficient lamps from the European market. Its product focus group includes more than 40 products including lamps, lightbulbs, boilers, TVs, and fridges. Lighting is a part of the energy performance of building directives, which is aiming to move toward almost zero-energy buildings by 2020. This directive was implemented in 2010. Under this directive, the sale or rental of buildings must include energy performance certificates in all advertisements and all new buildings must be zero energy buildings by December 2020.
 
In the MEA, Bahrain, Oman, Qatar, and Kuwait are the countries with high disposable incomes, which is leading to the high infrastructural development in the region. Qatar will see a significant demand for professional lighting solutions after 2019 because of the organization of "FIFA World Cup" in 2022. In addition, the overall region is seeing a significant contribution from the architectural segment, as a result of which the adoption of LED lighting sources will increase during the forecast period.

Source : www.businesswire.com
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