Global Plasma Lighting Market Report and Forecast 2024-2032

Global Plasma Lighting Market Outlook

The global plasma lighting market stood at a value of around USD 402.73 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.6% to reach USD 604.14 million by 2032.

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Horticulture Segment to Exhibit a Significant Growth in the Forecast Period

Based on application, the horticulture segment is predicted to have a significant growth in the forecast period owing to the rise in demand for plasma lighting systems in countries with harsh winter climatic conditions, as these lights enable crops to grow even in the absence of natural light/sunlight. Plasma lighting systems have the ability to mimic sunlight, and, thus, can improve photosynthesis in plants.

Europe to Account for a Significant Share in the Plasma Lighting Industry

The Europe plasma lighting industry is expected to witness a significant growth in the forecast period owing to the increasing use of plasma lights for cultivation. Additionally, the government initiatives to encourage the adoption of plasma lighting that offers energy-efficient lighting solutions and reduced costs are expected to create more opportunities for the growth of the market in the region. Moreover, infrastructural advancements and smart city initiatives are further expected to propel the growth of the plasma lighting industry in Europe in the forecast period.

Global Plasma Lighting Market Segmentation

Plasma lighting is an electrodeless metal halide lamp that produces light directly from an arc discharge operated under high pressure. The arc discharge is powered by a high frequency electromagnetic field generated externally to the lamp. Many plasma lighting systems require a separate low voltage direct current power supply to provide power to the high frequency driver.

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On the basis of wattage, the industry can be segmented into:

• 300W
• 700W
• 1000W

Based on component, the industry can be divided into:

• Lightron 
• Waveguide
• Bulb Assembly
• Cavity Resonator

Based on application, the industry can be categorised into:

• Roadways, Streets, and Tunnels 
• Industrial
• Horticulture 
• Sports and Entertainment
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Energy-Efficient Lighting Systems to Bolster the Growth of the Global Plasma Lighting Industry

The global plasma lighting industry has been growing considerably for the last few years. The market growth is driven by factors such as the rising demand for energy-efficient lighting systems and the increasing infrastructure development activities in emerging economies. Usage of plasma lamps can save more than 40% of energy without sacrificing light output and quality. Furthermore, these solutions do not emit carbon dioxide. Additionally, the growing number of indoor farms equipped with plasma lighting, which seeks to mimic the spectral output of the sun and create a more balanced ecosystem to produce healthier plants that are more disease and pest resistant, coupled with the rising demand for light emitting plasma (LEP) in large outdoor areas, is propelling the growth of the market. Moreover, an LEP bulb has a lifespan of at least 30,000 hours and can last as long as 40,000 hours, and is non-toxic, with no mercury or other heavy metal toxins contained within the plasma lighting system.

Key Industry Players in the Global Plasma Lighting Market

The report gives a detailed analysis of the following key players in the global plasma lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Gavita International B.V. 
• Ceravision Limited
• Hive Lighting, Inc.
• Pure Plasma Lighting Inc.
• Saturn Overseas Trading LLC
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report