About Lighting System
In lighting system, the major role of a ballast is to regulate the current to the bulb or tube and provide necessary voltage to start the bulb and produce a steady light output. If the lighting source is connected directly to high-voltage power source, it will draw more current to the bulb or tube and will quickly burn out before its expected lifecycle. Therefore, ballast protects the lighting source from a high level of current and limits the flow of current through the lighting device, thereby extending the lifecycle of lighting systems.
Technavio’s analysts predict that by 2020, the global lighting ballasts market will exceed 872 million units.
Covered in this report
The report covers the present scenario and the growth prospects of the global lighting ballasts market for 2016-2020. To calculate the market size, the report considers the unit shipment of lighting ballast for lamps and luminaires.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lighting Ballasts Market 2016-2020
Technavio recognizes the following companies as the key players in the global lighting ballasts market: Acuity Brands, Advanced Lighting Technologies, Atlas Lighting Products, Crestron Electronics, Eaton, GE Lighting, Hatch Transformers, Leviton Manufacturing, Lutron Electronics Company, MaxLite, Osram Sylvania, Philips Lighting Holding BV., Progress Lighting, Technical Consumer Products, Universal Lighting Technologies and Venture Lighting International.
Commenting on the report, an analyst from Technavio’s team said: “Declining manufacturing cost of LED will be a key trend for market growth. The decline in the manufacturing cost of LEDs is because of the government subsidies on the purchase of semiconductor equipment such as metal-organic chemical vapor deposition (MOCVD), which are used for manufacturing LEDs. This has encouraged LED manufacturers to increase their LED production capacity. Also, favorable government support has enabled vendors to reduce the variable cost associated with manufacturing by operating their manufacturing facility at full capacity.”
According to the report, offering government subsidies and incentive programs will be a key driver for market growth. Global warming and the rapid depletion of non-renewable energy highlight the indispensable need for energy conservation. Currently, it is estimated that lighting applications account for more than 20% of global electricity consumption. This high consumption has led several countries worldwide to frame policies that ban the use of inefficient lighting sources and promote the use of efficient lighting sources through subsidies and tax incentive programs. These incentives are being offered by different governmental and non-governmental entities. It is generally being offered by federal, state, and local governments or by utilities because of general efficiency requirements set by the government.
Further, the report states that high import duties will be a challenge for the market. High import duties on lighting fixtures including LED products and components are hindering the growth of the global lighting ballasts market. The import duty rate for importing lighting fixtures into Brazil is 18%. This duty is accompanied by airport fee, storage fee, handling fee, and declaration fee. This import duty rate is high as compared to the other BRIC nations and thus, impacts the final price of lighting product for the end-consumers in Brazil, as the main vendors are international players and import products from other countries.
Acuity Brands, Advanced Lighting Technologies, Atlas Lighting Products, Crestron Electronics, Eaton, GE Lighting, Hatch Transformers, Leviton Manufacturing, Lutron Electronics Company, MaxLite, Osram Sylvania, Philips Lighting Holding BV., Progress Lighting, Technical Consumer Products, Universal Lighting Technologies, Venture Lighting International.