plasma lighting manufacturers
Plasma lights leverage arc discharge under high pressure for producing light. It offers many advantages which have led to its constantly increasing applications. Market Research Future MRFR's findings suggest that the global plasma lighting manufacturers market is projected to strike 5.4% over the evaluation period 2019 to 2025. The plasma lighting manufacturers market size is observed to increase from USD 290.42 Mn in 2018 to USD 420 Mn by 2025.
The plasma lamp offers energy efficiency which is one of the factors that has helped the product is gaining popularity over time. It is widely used in industrial applications for illumination. The mandates issues by governments regarding the complete illumination of the industries that are dark and perilous. These factors have boosted the growth of the plasma lighting manufacturers market. It is anticipated to witness similar trend over the next couple of years. Also, the governments are investing in plasma lighting manufacturers for electrification projects. The replacement of street lights with energy-efficient lighting technologies is expected to drive market growth on the global front in the upcoming years.
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Plasma grow lighting are full-spectrum lights - infrared to ultraviolet. These lights are closes to imitating sunlight which is prognosticated to support the expansion of applications, thus supporting plasma lighting manufacturers market growth. It is extensively used for creating fake sunlight used in horticulture and indoor farming. The light can provide enough energy for the plants to carry on photosynthesis. This is one of the crucial drivers of the plasma lighting manufacturers market. It is projected to accelerate revenue generation for the market players owing to rising investments in indoor farming and horticulture. Meanwhile, the high initial cost is an impediment to market growth.
Market Segmentation:
On the basis of wattage, the plasma lighting manufacturers market has been segmented into100 W, 700 W, and 300W.
The segments of the plasma lighting manufacturers market, on the basis of distribution channel, are – commercial and retail.
The segmental analysis of the plasma lighting manufacturers market on the basis of application covers horticulture, street lighting, sports & Entertainment, highways, tunnel lights, and others.
Regional Analysis:
This report presents a comprehensive geographical analysis of the global plasma lighting manufacturers market that identifies five major regional segments. These regions are - North America, the Middle East & Africa (MEA), Europe, South America, and Asia Pacific (APAC). A detailed assessment of the country-based markets in these regions is also covered in the analysis. Europe is anticipated to dominate the expansion of the plasma lighting manufacturers market in the foreseeable future. The rising initiatives and investments by the governments in the region for building smart cities is expected to drive the growth of the market.
Asia Pacific is poised to trail Europe in terms of revenue generation while reflecting a higher CAGR. The region is also observed to invest in smart cities. It is expected to expand the plasma lighting manufacturers market in the upcoming years. South Korean, China, and Japan are likely to capture significant share of the regional market over the assessment period.
Competitive Dashboard:
Ceravision (UK), KA Shui International Holdings (Hong Kong), Hive Lighting (US), Gavita (Netherlands), Griffin & Ray (UAE), Green De Corp (Hong Kong), Fusionlux (Luxembourg), Birns (US), Solaronix (Switzerland), RFHIC Corporation (South Korea), Guangzhou Kaiming Industries (China), and Pure plasma lighting manufacturers (US) are some of the key players of the global plasma lighting manufacturers market. The market is dominated by a few key players and is likely to witness an influx of new participants. The untapped potential of the plasma lighting manufacturers market is expected to attract these new entrants in the years to come. It is also presumed to attract investments in emerging technologies by key players for staying abreast of advancements in technology. In order to sustain the curve, market players are presumed to resort to strategies such as product development, agreements, collaborations, mergers and acquisitions, innovations, partnerships and alliances. Also, regional expansion for enhancing market positions is prognosticated to intensify competition in the global plasma lighting manufacturers industry.
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