Plasma Lighting Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Plasma Lighting Market Analysis
The plasma lighting market is expected to grow at a CAGR of 5% over the forecast period (2021-2026). One of the major factors that are driving the market is its capability to provide a huge opportunity to save energy and reduce operating cost compared to metal halide or sodium HID lights. According to LonMark International, plasma lighting can reduce energy use by up to 70 %.
- The plasma lighting provides better light uniformity and distribution, and have better performance in high bay applications especially when positioned at heights of six metres or more such as factories, outdoor parking areas, and ports.
- However, on the flip, the high value of plasma lights and the availability of various substitutes available in the market at affordable rates are a few factors that are restraining the market growth during the forecast period.
Plasma Lighting Market Trends
This section covers the major market trends shaping the Plasma Lighting Market according to our research experts:
Increasing Research Activities in Horticulture Offers Potential Growth
- Europe accounted for a significant share in the horticulture lighting market and continues to grow with other European countries promoting plant factory and providing subsidies to spur the local demands. With the increased applications of plasma lighting in the horticulture is expected to provide huge potential for the plasma lighting market. According to a report published by the Lighting Research Center in 2018, out of 50% of growers who use supplemental lighting to grow crops, out of those 25% use fluorescent or lighting technology such as plasma lighting.
- Seeing the increasing demand for horticulture globally, companies are investing in research and development and are coming up with a patent product in order to augment the market. For instance, in September 2019, Ceravision Limited conducted 6 months of the horticultural lighting trials of its plasma-based solid-state lighting (SSL) fixture in a supplemental greenhouse application in partnership with Bridge Farm Group. The trial resulted in an increase in yield and potency of 40 % compared to other lighting solutions.
- Also, Ceravision Limited launched a patented approach in plasma light technology for horticultural lighting, based on the ability to produce light spectra with high levels of UV-A and UV-B. Therefore, such an initiative is expected to create awareness about the application of plasma lighting in horticulture, which is expected to have a positive outlook on the market.
- However, in horticulture, the plasma lighting would face intense competition from the LED lighting. Currently, the adoption of LEDs is increasing owing to the benefits associated with them such as energy efficiency and in terms of maintenance. With further performance and cost validation, plasma lighting could potentially increase the energy efficiency of lighting in horticulture.
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North America Dominates the Market
- North America holds the largest market share for this market owing to the fact that the region is a home for many research laboratories.
- The government initiative to encourage the adoption of technologies that offer better lighting in reduced cost is expected to create more opportunities for the providers of plasma lights in the region.
- Also, plasma lighting providers in the region are also developing a full range of products and are broadening collaboration with different partners. For instance, Ford Auto and Marine Dealership (Smithville, MO) replaced 400W HID light fixtures with 24 Plasma fixtures, in order to renovate their large outdoor showroom with lighting that would display their inventory more clearly while saving energy. Also, 65% of the project cost was also paid with energy-efficiency rebates and incentives.
Plasma Lighting Industry Overview
Theplasma lighting market is moderately competitive but during the forecast period, more vendors are expected to enter this market.Key players are adopting strategies such as investing in research and development, new product launches, to sustain competitors in the market. Few recent developments are:
- September 2019 - Ceravision Limitedannounced the results of trials thatdemonstrated an increase in yields of cannabinoid oils by up to 40% compared to other lighting solutions. Usingplasma light technology, the company also announced apatentto horticultural lighting.
Plasma Lighting Market Leaders
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Ceravision Limited
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Hive Lighting Inc.
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Shui International Holdings
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Gavita International B.V.
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Griffin & Ray ( Saturn Overseas Trading LLC.)
*Disclaimer: Major Players sorted in no particular order
Plasma Lighting Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising demand for efficient and long lasting lighting system is driving the market in the forecast period
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4.3 Market Restraints
- 4.3.1 Availability of Alternative Technologies
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4.4 Market Opportunity
- 4.4.1 Increasing use in Horticulture
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Application
- 5.1.1 Streetlights
- 5.1.2 Parking
- 5.1.3 Sports
- 5.1.4 Industrial
- 5.1.5 Others
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5.2 Geography
- 5.2.1 North America
- 5.2.2 Europe
- 5.2.3 Asia Pacific
- 5.2.4 Rest of World
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Ceravision Limited
- 6.1.2 Hive Lighting Inc.
- 6.1.3 Shui International Holdings
- 6.1.4 Green de Corp Limited
- 6.1.5 Gavita International B.V.
- 6.1.6 Griffin & Ray ( Saturn Overseas Trading LLC.)
- 6.1.7 BIRNS, Inc.
- 6.1.8 DRSA (Daniel R. Smith & Associates, Inc.)
- 6.1.9 Amko SOLARA Lighting Co., Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityPlasma Lighting Industry Segmentation
Light Emitting Plasma (LEP) is a high-intensity light source that shares the same benefits as LED, like longevity and reliability, but has a much greater lumen density (up to 200 times greater) and can distribute light evenly across wide areas such as ports, street lights etc. The full-colour spectrum of the plasma lights provides a greater than 2 times advantage over HPS in nighttime visibility.
| By Application | Streetlights |
| Parking | |
| Sports | |
| Industrial | |
| Others | |
| Geography | North America |
| Europe | |
| Asia Pacific | |
| Rest of World |
Plasma Lighting Market Research FAQs
What is the current Plasma Lighting Market size?
The Plasma Lighting Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Plasma Lighting Market?
Ceravision Limited, Hive Lighting Inc., Shui International Holdings, Gavita International B.V. and Griffin & Ray ( Saturn Overseas Trading LLC.) are the major companies operating in the Plasma Lighting Market.
Which is the fastest growing region in Plasma Lighting Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Plasma Lighting Market?
In 2024, the Europe accounts for the largest market share in Plasma Lighting Market.
What years does this Plasma Lighting Market cover?
The report covers the Plasma Lighting Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Plasma Lighting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Plasma Lighting Industry Report
Statistics for the 2024 Plasma Lighting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plasma Lighting analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
