Global Compact Fluorescent Lamps Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031

Demand for Compact Fluorescent Lamps from 2015 to 2020 Vs. Future Market Projections for 2021-2031

From 2015 to 2020, sales of compact fluorescent lamps have increased at a stable rate, expanding over 6.5% CAGR.

Compact Fluorescent Lamps (CFLs) are manufactured for Direct Current (DC), as well as Alternating Current (AC) inputs. The direct current CFLs are ideal for use in off-the-grid housing and recreational vehicles. DC CFLs can utilize power from car batteries, small solar panels, and wind generators in some countries. These CFLs can also be used in solar-powered street lights, with the help of solar panels and luminaries that are wired, especially for the lamps to be compatible.

However, the recent COVID-19 pandemic has severely disrupted the entire electrical industry. The supply of compact fluorescent lamps and its raw materials, mainly from China, was considerably impeded due to stringent trade regulations imposed by several global economies. The year 2020 was also at a negative pace with a significant gap in demand and supply.

Global Compact Fluorescent Lamps Market Revenue Outlook:

The global compact fluorescent lamps market was valued at over US$ 3.2 Bn in 2020 and is projected to register а САGR of over 11.5% by 2031.

Nonetheless, various industry players in the global fluorescent lighting market are now increasingly focusing on establishing successful partnerships, acquisitions and joint ventures as a means to strengthen their respective customer bases. In doing so, these participants are also improving their supply capabilities to meet customer needs locally and globally. This factor, coupled with the industrialization prospects of developing economies in the Asia-Pacific region such as China, India, Taiwan, and Indonesia, is expected to create a large number of business opportunities for major players during the forecast period.

Factors supporting the revenue growth for Compact Fluorescent Lamps market

Several government agencies are encouraging people to adopt compact fluorescent lamps instead of incandescent light bulbs. A coal-fired power plant will emit 13.6 milligrams of mercury to generate the electricity required to operate an incandescent light bulb compared to 3.3 milligrams for a compact fluorescent lamp. Furthermore, the risk of airborne mercury poisoning is considerably low, which does not pose a serious concern, as CFLs contain mercury levels that are much lower than those present in the fish we consume.

Market Dynamics:

There has been a rise in the consumption of power across the US. The rapid surge in population figures and rising subsidies for electrical power have led to the growing adoption of CFLs over the traditional lamp. Additionally, the people in this region have the required financial means to invest in smart homes that are fitted with several innovative CFL lights. This increasing electricity consumption has not been compensated due to the inadequate production of electricity, which is presently leading to a power crisis. Owing to this, there is a healthy demand for energy-efficient products such as CFL products compared to the previously popular traditional incandescent lamp. Factors like this are expected to fuel revenue growth of the compact fluorescent lamp market.

Increasing R&D expenditure to develop newer products and designs that complement the aesthetics as well as improve product quality will also help in brand building, and provide value-added experience to users and act as a major opportunity for existing and newer players in the market. For instance, Signify, formerly Philips Lighting, faced a loss of sales during the lockdown, but the company focused on its R&D activities and developing ultraviolet light-based products that could combat coronavirus in indoor spaces.

COVID-19 Impact Analysis

The outbreak of COVID-19 has negatively impacted almost all industries across the world. Lighting industries have been immensely affected in China and India. The onset of this given pandemic has also impacted the respective supply chains of these companies. As major economies imposed precautionary manufacturing lockdowns, a considerable gap between market supply and demand has been created, making it difficult for manufacturers and distributors to manage their supply operations effectively. This is a primary factor that is expected to negatively influence future revenue growth prospects for the global compact fluorescent lamps market. A potentially looming economic recession is also likely to affect future investments in this sector adversely.

Market Bifurcation:

The global compact fluorescent lamps market is segmented on the basis of product type, application, and regions and countries. Among the product type segment is bifurcated into integrated compact fluorescent lamps and non-integrated compact fluorescent lamps. The integrated compact fluorescent lamp segment is expected to account for significant revenue share in the target market owing to increasing demand for CFL in various end-use industries such as, electrical, automobile, electronic, manufacturing, and others. Among the applications, the segment is bifurcated into commercial use and residential use. The commercial use segment is expected to hold the highest market share among others.

Regional Analysis:

The North American region in the global compact fluorescent lamps market is expected to account for a significant share. Increasing research & development activities to design improved eco-friendly lamps such as LEDs, which consume a lower amount of electricity. Various government initiatives and programs being undertaken to encourage and promote the utilization of energy-efficient lamps such as Smart LEDs is a factor that may restrain the revenue growth of the target market in the respective region, are among some major factors expected to support the growth of the target market.

Competitive Landscape:

The compact fluorescent lamps market landscape appears highly consolidated, with a major chunk of it being dominated by players with their base in the North American region.

• OSRAM Licht AG (Germany)

• General Electric Company (US)

• Panasonic Corporation (Japan)

• Schneider Electric SE (France)

• Bridgelux (US)

• Cree Inc. (US)

• Nichia Corporation (Japan)

• Dialight PLC (US)

• Eaton Corporation Inc. (US)

• Emerson Electric Co. (US)

• Everlight Electronics Co Ltd (Taiwan)

• Toshiba Lighting and Technology (Japan)

• Koninklijke Philips NV (Netherlands)

• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031

• Actual Year: 2021

• Historical Data Available for: 2015-2020

Key Regions Covered

• North America

  • US

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • South Korea

  • India

  • Rest of Asia Pacific

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

• Middle East & Africa

  • GCC

  • South Africa

  • Israel

  • Rest of MEA

Key Segments Covered

Global Compact Fluorescent Lamps Market, By Product Type

• Integrated Compact Fluorescent Lamps

• Non-Integrated Compact Fluorescent Lamps

Global Compact Fluorescent Lamps Market, By Application

• Commercial Use

• Residential Use