Fluorescent Lighting Market Research Report Information By Application (Residential, Commercial and Industrial), By Installation (New Installation and Retrofit), By Type (Linear Fluorescent Lamps [LFL] and Cold Cathode Fluorescent Lamp [CCFL]), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

Global Fluorescent Lighting Market Overview:

Fluorescent Lighting Market Size was valued at USD 6.5 Billion in 2022. The fluorescent lighting market industry is projected to grow from USD 7.209 Billion in 2023 to USD 16.506 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.91% during the forecast period (2023 - 2032). The fluorescent lighting market is expanding due to a number of important market drivers, including the rising demand for environmentally friendly lighting technologies and the expanding acceptance of lighting goods with long shelf lives.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fluorescent Lighting Market Trends

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  Rising demand for energy-efficient lighting is driving the market growth

  
  

The rising demand for energy-efficient lighting heavily influences the market CAGR for fluorescent lighting. More people than ever are aware of the benefits of energy-efficient lighting. The fluorescent lighting market is creating new demand and supply opportunities. Fluorescent lights are environmentally benign because they don't easily overheat and do no environmental harm. Its advantages include high energy efficiency and natural illumination. Due to cost-effectiveness, it is a thin market with significant demand. They are less expensive than LED, halogen, and incandescent lights. Its low costs will increase demand in emerging economies. The market for fluorescent lighting is also driven by features that provide brilliant illumination. This lamp offers a colorful glow. The powder coating of phosphors causes this attribute. In comparison to other lights, the light that comes out of the phosphor coating is 10% brighter and whiter. A driving force is the rising need for fluorescent lighting in outdoor applications. Due to their powerful lighting, these lights are used in parking systems and tunnels. The demand for fluorescent lighting will grow significantly as a result of all these important market drivers.

The fluorescent lighting market is anticipated to expand with growing industrialization. Industry 5.0 is anticipated to advance the market during the following few years significantly. An essential component of this progress is the requirement for energy-efficient lighting. Due to their long lifespan, fluorescent lights are more widely used. The market for fluorescent lighting will grow faster due to this industry's adoption of fluorescent lighting. Additionally, fluorescent lighting is used in commercial settings such as offices, malls, stores, cafeterias, and retail locations. This advancement will broaden the market in the ensuing years. There will be extraordinary potential opportunities due to the market's expanding research and development activities. The research contributes significantly to the market's high rate of technological advancement. Urbanization and modernization will result in new product introductions in the fluorescent lighting industry. In addition to being energy-efficient, the fluorescent lights are also stylish. It increases the market's target audience. Numerous end users are expected to attend the new product launches. High market profitability is the result of all these expansion potential. Thus, driving the fluorescent lighting market revenue.

Fluorescent Lighting Market Segment Insights:

Fluorescent Lighting Application Insights

The Fluorescent Lighting Market segmentation, based on application includes residential, commercial and industrial. The commercial segment dominated the market. The expansion can be ascribed to increased commercial buildings worldwide, including offices, shopping centers, hospitals, clinics, hotels, and restaurants. In addition, demand is anticipated to increase throughout the projected period due to a growing trend toward employing energy-efficient lighting solutions for commercial reasons. Due to growing consumer knowledge of cost-effectiveness and expanding acceptance of fluorescent lamps by consumers wanting superior illumination at a cheaper price point than other conventional lighting solutions, household use made up a sizable portion of the market.

Fluorescent Lighting Installation Insights

The Fluorescent Lighting Market segmentation, based on installation, includes new installation and retrofit. The retrofit category generated the most income. The conventional incandescent lamp is changed out for the retrofit fluorescent lamp. Compared to traditional fluorescent bulbs, it lasts longer and generates more light. Retrofit fluorescent lights can be converted into energy-saving products by plugging them into an electrical outlet, which makes them live up to 10 times longer than standard fluorescent bulbs before needing replacement. This is the most significant difference between retrofit and new fluorescent lamps.

Figure 1: Fluorescent Lighting Market, by Installation, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fluorescent Lighting Type Insights

The Fluorescent Lighting Market segmentation, based on type, includes linear fluorescent lamps [LFL] and cold cathode fluorescent lamp [CCFL]. The cold cathode fluorescent lamp [CCFL] category generated the most income. The expansion is attributable to the widespread availability of CCFLs in varied shapes and sizes to suit diverse applications. CCFLs, popular lights commonly utilised in home lighting, are typically found with screw bases and inbuilt ballasts.

Fluorescent Lighting Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific fluorescent lighting market area will dominate this market due to accelerated infrastructure construction, urbanization, and rising government measures in favor of energy-efficient lighting. The market's rise in this region is largely due to nations like China, India, and Japan. Additionally, excellent brightness and cost-effectiveness are the main drivers of widespread use. Demand for offices and other commercial properties would be substantial during the anticipated period. All of these elements will result in high revenue rates.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Fluorescent Lighting Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe fluorescent lighting market accounts for the second-largest market share due to the existence of top manufacturers and the growing use of energy-efficient lighting solutions. With a focus on energy efficiency and environmental sustainability, Europe is a significant market for fluorescent lighting. Fluorescent lighting is becoming more popular because of the region's rigorous restrictions regarding lighting efficiency and carbon emissions. Further, the German fluorescent lighting market held the largest market share, and the UK fluorescent lighting market was the fastest growing market in the European region

North America Fluorescent lighting Market is expected to grow at the fastest CAGR from 2023 to 2032. This can be ascribed to expanding energy conservation awareness, an escalating population, and increased demand from commercial sectors like malls, hotels, restaurants, airports, etc. for improved lighting solutions. Regulations requiring high levels of energy efficiency and programmes promoting sustainability help this region's market expansion. Moreover, US fluorescent lighting market held the largest market share, and the Canada fluorescent lighting market was the fastest growing market in the region.

Fluorescent Lighting Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the fluorescent lighting market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, fluorescent lighting industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global fluorescent lighting industry to benefit clients and increase the market sector. In recent years, the fluorescent lighting industry has offered some of the most significant advantages to market. Major players in the fluorescent lighting market attempting to increase market demand by investing in research and development operations include RS Pro, Narva, Orbitec, Kolmart, Lightbuibs, Nora Lighting, Megaman GE Facom, Philips Lighting, Sylvania Osram, Feit, Neutral, Schneider Electric and Kaufel.

A French multinational corporation called Schneider Electric SE is an expert in digital automation and energy management. It addresses homes, buildings, data centers, infrastructure, and industries by utilizing energy technologies, real-time automation, software, and services. The parent company of Square D, APC, and other businesses is Schneider Electric. It also does research. A Fortune Global 500 corporation, Schneider Electric is listed on the Euronext Exchange and is a part of the Euro Stoxx 50 stock market index.

Philips refers to the Dutch global conglomerate firm Koninklijke Philips N.V., established in Eindhoven in 1891. Although the Benelux headquarters are currently in Eindhoven, it has been mostly headquartered in Amsterdam since 1997. After selling off its other operations, Philips, once among the biggest electronics corporations in the world, is now concentrating on the field of health technology. The business began producing electric shavers 1939 under the Philishave and Norelco brands. Then after the war, they created the Compact Cassette format and collaborated with Sony to create the Compact Disc format, among many other inventions. According to the relevant revenues, Philips was the top lighting company in the world as of 2012.

Key Companies in the fluorescent lighting market include

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  RS Pro

  
  


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  Narva

  
  


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  Orbitec

  
  


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  Kolmart

  
  


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  Lightbuibs

  
  


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  Nora Lighting

  
  


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  Megaman GE Facom

  
  


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  Philips Lighting

  
  


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  Sylvania Osram

  
  


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  Feit

  
  


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  Neutral

  
  


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  Schneider Electric

  
  


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  Kaufel