The revenue of the electric lighting equipment keeps growing over the last few years. All thanks to the development of high-quality and advanced lighting products. However, this industry has experienced some constraints in terms of revenue growth. This can be attributed to unfavorable demand conditions and import competition in several major construction markets.
Lighting is a crucial part of all building systems. Electric lighting equipment manufacturing plays a crucial role in the development of some electronic products.
What is Electric Lighting Equipment?
Electric lighting equipment produces light through the flow of electric current. This source of light is the commonest form of artificial lightning. Electric lightning offers exterior light for nighttime activities and interior lighting for buildings. The majority of electric lighting is usually powered by electric power. However, battery systems or electric generators can also power lighting.
Since the introduction of incandescent light bulb and arc lamps, electric lighting’s efficiency has radically increased. Examples of electric light equipment include electric lamp, light bulbs, electric light tubes and components. Electric lightning equipment is designed to produce light for electrical products. It is widely integrated for household and commercial applications.
Electrical lighting equipment are available in different types. However, the main types include backlighting, general lighting, and automotive lighting. Automotive lighting system enhances visibility, particularly in low-light scenarios. The global electric lighting equipment manufacturing industry saw a growth from 112.99 billion dollar in 2022 to 121.23 billion dollar in 2023.
Overview of the Electric Lighting Equipment Industry
The electric lighting equipment manufacturing industry is involved in the production of tubes and light bulbs, electric lighting fixtures and lighting fixture components, parts and components amongst others. This also includes the production of ceiling fans featuring integrated lighting fixtures.
Furthermore, the electric lighting equipment industry manufactures lighting items like incandescent, infra-red, fluorescent, lamps, and bulbs. In 2022, the Asia-pacific region was the largest producer of electric lightning equipment while North America was ranked the second largest producer of electric lightning equipment.
As electric lighting continues to become a crucial element for residential, industrial, and commercial, environment in world, electric lighting equipment manufacturing companies has continued to experience some growth. Also, the LED lighting sector has continued to make impact in the electric lighting industry due to its constant and increasing growth.
The demand for electric lighting equipment across the globe keeps increasing. This could be linked to progress in lighting technology alongside increasing infrastructure and housing contributions across the world. Light emitting diode is the most recent lighting technology which offers a wide range of beneficial features. This lighting equipment now accounts for the biggest market share in the electric lighting equipment manufacturing market.
Furthermore, more top leading electric lighting equipment manufacturing companies are now concerned about the development of new LED lightings to help them remain competitive in the world market. Therefore, this will contribute to the growth and development of the electric lighting equipment industry in the near future.
The Future and Trends of the Electric Lighting Equipment Manufacturing Industry
A recent research report made from Technavio revealed that the size of the global electric lighting equipment market was worth around $121.2 billion in 2019. This growth is projected to get to $151.7 billion by the year 2024. Rapid urbanization and the increasing number of households contributed to this market growth. As a result of this more commercial and residential buildings will be developed around the world.
Asia Pacific remains the biggest electric lighting equipment market in the world, with more than $57.2 billion in the year 2019. According to Technavio, more than 54% of the growth of the global will come from Asia Pacific in the next five years.
There are a number of factors that contributes to the development of the lighting market in the Asia Pacific. Some of these factors include the increasing demand for better and more efficient lighting solutions, presence of so many LED packaging and chip companies, and rapid urbanization in countries like India, China, and Japan.
In terms of production and market growth, the LED lighting segment will keep being the biggest segment in the electrical lighting equipment market in the near future. LED is basically the most recent lighting technology that produces photons via semiconductor materials. Light emitting diodes are usually small and powerful. This makes them widely integrated in a huge range of applications like traffic signals, general lighting, advertising, medical devices, and automotive headlights.
LEDs are a cost-effective lighting solution that saves energy. Their low energy consumption helps to achieve high efficiency. According to the most recent market research report, the world’s LED market size will get to almost $100 billion by the year 2023. Therefore, this LED market will have a CAGR of about 10%.
Top 7 Electric Lighting Equipment Manufacturing Companies
Samsung LED
Samsung LED is one of the leading electric lighting and LED manufacturing companies in South Korea. As a division of the South Korean multinational electronics company, Samsung LED supplies electric lighting equipment to various industries like automotive, consumer electronics, and more. Also, this company focuses on delivering innovative and advanced lighting solutions for use in several applications.
This lighting company is one of the top leading providers for LED lighting solutions across the world. Some of its lighting systems include modules for different uses smart lighting solutions, mobile devices, and automotive. Samsung has a vast experience and skills in the manufacturing of semiconductor. This contributed to its continued innovation and production of advanced LED devices.
OSRAM
This German multinational electric lighting equipment manufacturing company has its headquarter in Munich, Germany. Osram is a popular lighting company that mainly focuses on technologies that are semiconductor-based. As one of the leading supplier for lighting and electronics products in Germany and across the globe, Osram’s product portfolio includes optical sensors, lamps, automotive LED products, luminaries, lighting and projection systems, infrared LEDs, lighting solutions, and laser diodes for infrared and visible light.
In the year 2019, the total revenue of this lighting company amounted $3.9 billion. Osram is an innovative electric lighting equipment company that believes in creating new ideas that will transform the global electric lighting equipment market. Over time, this company has continued to integrate new technologies to provide advanced lighting solutions to several applications.
Sharp
Sharp is a Japanese electric lighting equipment company that manufactures a wide range of electric lighting products for various applications. As a global leader in electric lighting technology, this company has a vast experience in the production and development of lighting solutions. One of its best products is the lighting emitting diode (LED). Another popular product of Sharp is luminaries.
The LED luminaires of Sharp provides high standards for the electric lighting industry. Sharp’s lighting products are popular for the benefits they offer. Some of these benefits include optimal lighting design, long service life, visual comfort, and high system efficiency among others. Another great benefit of Sharp electric lighting equipment is its eco-friendliness. The team at Sharp is dedicated to creating innovative lighting solutions.
Signify
Signify is one of the most popular lighting companies in the world. This electric lighting company was formerly referred to as Philips Lighting. Signify has its headquarters in Eindhoven, the Netherlands. As a highly ranked electric lighting equipment manufacturing company, Signify provides high-quality lighting solution to various industries.
To date, Signify still remains a global market leader with vast expertise in the production and application of innovative lighting solutions for commercial and residential purposes. The product portfolio of this company includes Indoor and Outdoor luminaries, Hue personal wireless lighting, Conventional tubes and lamps, Bulbs, and LED lights. The total revenue of this company amounted to a whopping $7.2 billion in the year 2019.
Acuity Brands, Inc
Acuity Brands is a popular electric lighting company that focuses on the production and development of lighting solutions in the world. Its headquarters is in Atlanta, GA, United States. This electric lighting equipment manufacturing company has operations across countries in Europe, Asia, and North America. It supplies a wide range of electric lighting widely integrated in various applications.
Acuity Brand provides various outdoor and indoor lighting solutions ideal for different applications and environment. The LED lighting solutions of this company are sold under different brands like Lithonia Lighting, American Electric Lighting, Atrius, Holophane, Healthcare Lighting, Aculux, IOTA, etc. This company has earned a high reputation in the production of electric lighting.
Everlight
Everlight is a Taiwan based electric lighting company. It is one of the largest LED lighting company in the world based by volume. Everlight supplies a wide range of lighting solutions and products like opto-couplers, high-power LEDs, infrared components, SMD LEDs, digital displays, lamps, LED lighting modules, and lighting components for different industries. In 2019, the annual revenue of this reputable lighting company reached $150 million. Two years after, its annual revenue reached a whopping $897.84 million.
For more than two decades, Everlight has continued to focus on the improvement of electric lighting manufacturing process via research and development. This company provides lighting solutions that feature efficiency and high quality for different applications. Everlight designed a global business contact network where the needs of customers are met.
Cree
This US-based electric lighting manufacturer mainly focuses on the production of LED lighting. Cree is one of the world’s largest LED lighting companies. Asides LED lighting production, Cree manufactures semiconductor products for different industries. It has been able to install more than 125 million LED lights since 2008. Cree’s integration of cutting-edge technology helps in providing reliable and high-performance lighting for commercial and residential purposes.
The headquarter of this company is in North Carolina, United States. As a large supplier of LED lighting, Cree provides the widest portfolio of advanced and high-quality LED components in the industry. This includes LED modules for displays and lighting, discrete LEDs, and LED arrays. Some of Cree’s LED products are LED Modules, XLamp LEDs, and the J Series LEDs.
Segments of the Electric Lighting Equipment Market
The electric lighting equipment market comprises electrical lighting solutions like lighting fixtures, general indoor lighting, outdoor electric lighting equipment, and lamp shades. The global electric lighting equipment manufacturing industry is in various classifications:
- By application: commercial, residential, and automotive
- By mode: offline, online
- By type: Back lighting, general lighting, and automotive lighting
- By sales channel: OEM and aftermarket
Sub-segments include:
Halogen, Compact Fluorescent Lamps, High Density Discharge, Bulbs, Linear Fluorescent, Cold Cathode Fluorescent Lamps, Light Emitting Diodes (LED), Compact Fluorescent Lamps, Back Lighting-Light Emitting Diode, Automotive LED, and more.
Importance of Electric Lighting Equipment
Functionality
It is easier to see when there is light. We need light for watching TV, reading, and doing some activities. Electric lighting equipment serves several functions. However, the light levels also determine how we see. For instance, if the light from the TV is too much, it makes it difficult to see the screen.
Security
Electric Lighting equipment provides security. Lighting for security purpose makes you feel safe and as well deters potential buglers. A bugler will more likely target a home in darkness than a well lit home. Homeowners feel safer when they can easily spot an intruder or burglar. Also, potential burglars are afraid of being caught when there is light. Outdoor lighting equipment is usually installed for security and safety purposes.
Mood and ambience
Another benefit of electric lighting is how its elevates our mood. Lighting can help to create a welcoming and warm feeling.
Other applications
Electric lighting equipment is widely used in several applications. For instance, automotive lighting equipment helps drivers and pedestrians to know the direction of a vehicle. Electric lighting equipment is also integrated in other applications like medical, consumer electronics, and more.
Conclusion
As electric lighting continues to become a crucial element for residential, industrial, and commercial, environment in world, electric lighting equipment manufacturing companies has continued to experience some growth. Also, the LED lighting sector has continued to make impact in the electric lighting industry due to its constant and increasing growth.
