"Stringent Government Regulations on the Use of Inefficient Lamps Is Hindering the HID Ballast Market"
Globally, the HID ballast market is expected to decline with a CAGR of -5.2% during the forecast period from 2025 to 2033, starting from US$ 7.63 Bn in 2020. The supportive government policies and initiatives related to restricting the use of inefficient lamps is the primary force inhibiting the growth of the HID ballast market. The governments across the globe are constantly working towards optimizing the use of energy resources and promoting the use of energy-efficient technologies.
In line with this aim the regulatory authorities are imposing ban on the manufacturing and use of inefficient lamps. This is restricting the growth of the HID ballast market. The governments are also promoting the use of energy-efficient lamps or smart lamps by offering subsidies and tax incentives to the users. This is also serving as a major constraint in the growth of the market. Additional, the growing trend of smart and connected lighting solution across the globe is also restricting market growth.
"Outdoor lighting is leading the application landscape"
The HID ballast market is segmented based on the application into the outdoor, commercial, residential, industrial, and automotive lighting application. Outdoor lighting market accounted for approximately 40% share in the market. The growth of the market is attributed to the durability and ability to with stand harsh environmental conditions. However, the increasing smart city development initiatives across the globe are hindering the adoption of the HID ballast in the outdoor lighting applications.
"Asia Pacific Is Leading the HID Ballast Market"
Asia Pacific led the HID ballast market with over 48% share in the revenue. The growth of the market is attributed to the increasing industrialization and urbanization in the region. Furthermore, the steady economic growth in the region along with the lack of regulations on the lighting in the Southeast Asia region is also responsible for the growth of the market in the region. However, the swift penetration of the LED lamps in China and Japan is the major constraint in the growth of the market.
The prominent players in the HID ballast market are Acuity Brands, Cree Inc., Eaton Corporation, General Electric Company, Halco Lighting Technologies, IOTA Engineering, Magnitude Lighiting, OSRAM Licht AG, Philips Lighting Holding B.V., Starlite Lighting, Deco Lighting, The Delta Group, Unique Lighting System, and Westinghouse Electric Corporation.
Historical & Forecast Period
This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of HID Ballast market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2023-2033 |
Base Year | 2024 |
Forecast Period | 2025-2033 |
Historical Year | 2023 |
Unit | USD Million |
Segmentation | |
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Application
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Region Segment (2023-2033; US$ Million)
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Key questions answered in this report