Plasma Lighting Market Size (2024 - 2029)

The plasma lighting market is anticipated to experience growth due to its energy-saving capabilities and reduced operating costs compared to traditional lighting options. This market expansion is supported by the superior light uniformity and distribution offered by plasma lighting, particularly in high bay applications such as factories and outdoor areas. However, the market's growth is somewhat hindered by the high cost of plasma lights and the presence of more affordable substitutes.

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Market Size of Plasma Lighting Industry

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Plasma Lighting Market Summary
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

Plasma Lighting Market 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 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
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Plasma Lighting Market Size Summary

The plasma lighting market is poised for growth, driven by its energy-saving capabilities and cost efficiency compared to traditional lighting solutions like metal halide or sodium HID lights. This technology offers superior light uniformity and distribution, making it ideal for high bay applications such as factories, outdoor parking areas, and ports. Despite its advantages, the market faces challenges due to the high cost of plasma lights and the availability of more affordable substitutes. Europe is a significant player in the horticulture lighting sector, with increasing applications of plasma lighting expected to boost market potential. Companies are investing in research and development to enhance plasma lighting technology, as seen in Ceravision Limited's trials that demonstrated improved crop yields using plasma-based lighting.

North America holds a substantial share of the plasma lighting market, supported by government initiatives promoting cost-effective lighting technologies. The region's numerous research laboratories contribute to the market's expansion, with providers developing a wide range of products and forming strategic partnerships. The market is moderately competitive, with key players focusing on research and development and new product launches to maintain their market position. Despite the competition from LED lighting in horticulture, plasma lighting's potential for energy efficiency and performance improvements could enhance its adoption.

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Plasma Lighting Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising demand for efficient and long lasting lighting system is driving the market in the forecast period

    3. 1.3 Market Restraints

      1. 1.3.1 Availability of Alternative Technologies

    4. 1.4 Market Opportunity

      1. 1.4.1 Increasing use in Horticulture

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Streetlights

      2. 2.1.2 Parking

      3. 2.1.3 Sports

      4. 2.1.4 Industrial

      5. 2.1.5 Others

    2. 2.2 Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia Pacific

      4. 2.2.4 Rest of World

Plasma Lighting Market Size FAQs

The Plasma Lighting Market is projected to register a CAGR of 5% during the forecast period (2024-2029)

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.

Plasma Lighting Market Report Snapshots

Plasma Lighting Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)