Fluorescent Lighting Market Size, Share, Analysis, Trends, Growth Report, 2030

Fluorescent Lighting  Industry Prospective:

The global fluorescent lighting market size was worth around USD 7.2 billion in 2022 and is predicted to grow to around USD 14.8 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.5% between 2023 and 2030.

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The report analyzes the global fluorescent lighting industry drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fluorescent lighting market.

Fluorescent Lighting Market: Overview

Fluorescent lights are a particular kind of gas-charged luminaire that emits light through a chemical reaction involving gases and mercury vapor that occurs inside a glass tube to create UV light. A phosphor coating within the glass tube is illuminated by UV radiation, producing a white "fluorescent" light. Compared to older lighting technologies like incandescents, fluorescent lights provide several significant advantages. They consume less energy because they are so much more effective. They don't need to be replaced as frequently because they last 13 times longer. The market for fluorescent lights is anticipated to be driven during the projected period by increased acceptance of lighting goods with extended shelf life and expanding demand for environmentally friendly lighting technologies. On the other hand, the market is anticipated to be constrained throughout the projected period due to the initial equipment cost. Opportunities are anticipated to arise in the fluorescent lighting sector as a result of the IoT's expanding adoption.

Key Insights

• As per the analysis shared by our research analyst, the global fluorescent lighting market is estimated to grow annually at a CAGR of around 9.5% over the forecast period (2023-2030).
• In terms of revenue, the global fluorescent lighting market size was valued at around USD 7.2 billion in 2022 and is projected to reach USD 14.8 billion, by 2030.
• The fluorescent lighting market growth is driven by its benefits such as energy efficiency and longer life span.
• Based on the type, the compact fluorescent lamp is expected to grow at a moderate rate over the forecast period.
• Based on the installation, the retrofit segment is expected to capture the largest market share over the forecast period.
• Based on the application, the commercial segment is expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market over the forecast period.

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Fluorescent Lighting Market: Growth Drivers

Energy efficiency and longer life span drive the market growth

Fluorescent lights may generate the same amount of light, or lumens, with less energy input than incandescent lamps. Compact fluorescent lamps (CFLs), which are also known as fluorescent tubes and bulbs, may generate 50 to 100 lumens per watt in residential and commercial settings. A standard incandescent bulb generates 16 lumens per watt, in contrast. This benefit translates to energy efficiency, which in turn results in lower costs and use of power. Moreover, these lights have longer lifespans as compared to their counterparts. In comparison to an incandescent bulb, a typical fluorescent bulb has a lifespan of 10 to 20 times longer. In contrast to incandescent bulbs, which have a lifespan of just 1000 hours, fluorescent lamps may operate for 6000 to 15000 hours. Thus, these benefits are expected to drive the global fluorescent lighting market growth during the forecast period.

Fluorescent Lighting Market: Restraints

Hazardous compounds are found in fluorescent bulbs that might be hampering the market growth

Fluorescent lamps contain toxic material which includes mercury and phosphorus. This material is very hazardous to the environment and human health also. A tiny quantity of hazardous mercury that might contaminate the environment can be discharged as a gas if a fluorescent bulb breaks. In addition, they may result in eye, skin, or stomach irritation, coughing, chest discomfort or difficulty breathing sleeplessness; anxiety, headaches; weakness and weight loss. The rest is in the phosphor on the glass itself, which is frequently seen as being more dangerous than the mercury which has leaked. Thus, this is expected to act as a major restraint that limits the fluorescent lighting market expansion.

Fluorescent Lighting Market: Opportunities

Fewer heat emissions are expected to offer a significant opportunity

The extreme heat produced by incandescent bulbs is a result of their high energy consumption. Because they use less energy than other lighting options, fluorescent bulbs also have the benefit of emitting less heat. In contrast to incandescent lights, which use just 5% of the energy they receive to generate visible light, and the remaining 95% is converted to heat, typical fluorescent bulbs like CFLs convert 22% of the energy they receive to visible light. This gain further transfers to additional advantages like comfort and lower costs from air conditioning and ventilation. Thus, this is expected to offer a lucrative opportunity for the fluorescent lighting industry growth.

Fluorescent Lighting Market: Challenges

Fluorescent lighting is omnidirectional poses a major challenge to the market growth

Fluorescent lights provide omnidirectional light. A lighted fluorescent bulb emits light in all directions, or 360 degrees, surrounding the light source. This is incredibly wasteful since only 60 to 70 percent of the light the bulb emits is utilized, with the rest being wasted. Particularly in office buildings, certain areas tend to become overlit from wasted light, necessitating extra accessories in the light fixture itself to correctly control the bulb's output. This might add extra cost, which is expected to limit the fluorescent lighting market growth over the projected period.

Fluorescent Lighting Market: Segmentation

The global fluorescent lighting industry is segmented based on type, installation, application, and region.

Based on the type, the global market is bifurcated into compact fluorescent lamps, linear fluorescent lamps, and cold cathode fluorescent lamps. The compact fluorescent lamp is expected to grow at a moderate rate over the forecast period. CFLs are renowned for using less energy than conventional incandescent lights. They offer a comparable degree of brightness while using substantially less energy. For customers, this results in energy savings and lower electricity prices. The most effective option for maximizing energy savings is presently LED lighting, which has surpassed CFLs in terms of energy efficiency.

Based on the installation, the global fluorescent lighting industry is divided into retrofit and new installation. The retrofit segment is expected to capture the largest market share over the forecast period. The retrofit fluorescent light is used instead of the standard incandescent bulb. It produces more light and lasts longer than conventional bulbs. Thus, this is expected to propel segment expansion.  

Based on the application, the fluorescent lighting industry is segmented into general lighting, commercial lighting, residential lighting, industrial lighting, outdoor lighting, medical lighting, surgical and treatment lighting, general/mounted lighting, and others. The commercial segment is expected to dominate the market over the forecast period. Offices have been a significant market for fluorescent lighting. Fluorescent tubes and fixtures are commonly used to illuminate office spaces, providing bright and efficient lighting for employees to work comfortably. The long lifespan and energy efficiency of fluorescent lighting make it a popular choice for large office buildings. In addition, this is extensively used in retail environments, including shopping malls, supermarkets, boutiques, and other stores. The bright and uniform illumination provided by fluorescent lights enhances product visibility and creates an appealing shopping experience. Fluorescent lighting is often preferred for its ability to showcase products effectively. Thereby, driving the segment growth over the forecast period.

Fluorescent Lighting Market: Report Scope

Fluorescent Lighting Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the global fluorescent lighting market during the forecast period. The market's expansion is mostly attributed to the United States and Canada. The proliferation of big manufacturing businesses throughout the area is tied to the expansion of the area. Additionally, the widespread usage of fluorescent lights in several end-user applications to save energy is fueling market expansion in the region. Low cost and exceptional brightness are crucial factors for wider adoption.

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There will be a substantial demand for offices and other commercial properties over the predicted period. High revenue rates will be the outcome of all of these factors. A developed region that uses more fluorescent lighting in North America. The advantages are more recognized in this area. The largest contribution to growth will come from this whole regional player.

Fluorescent Lighting Market: Competitive Analysis

The global fluorescent lighting market is dominated by players like:

• Signify Holding
• Fagerhult Group
• OSRAM GmbH
• Zumtobel Group AG
• LEDVANCE GmbH
• Altman Lighting
• Astute Lighting Ltd
• Bamford Lighting
• Dextra Group
• Enarlux
• Halla
• a.s
• Hubbell incorporated
• Ideal Industries Inc
• Reggiani Spa Illuminazione
• Sylvania
• TRILUX Lighting Ltd
• OLIGO Lichttechnik GmbH
• Others.

The global fluorescent lighting market is segmented as follows:

By Type

• Compact Fluorescent Lamp
• Linear Fluorescent Lamp
• Cold Cathode Fluorescent Lamp

By Installation

• Retrofit
• New Installation

By Application

• General Lighting
• Commercial Lighting
• Residential Lighting
• Industrial Lighting
• Outdoor Lighting
• Medical Lighting
• Surgical and Treatment Lighting
• General/Mounted Lighting
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa