Compact Fluorescent Lamp Market is Expected to See Huge Growth in Near Future According to GlobalData25 May 2012 • by Natalie Aster
The electricity consumed by the global lighting sector had increased from around 2.6 petawatt hours (PWh) in 2005 to 2.9 PWh in 2010. Lighting appliances consume approximately 19% of the total electricity generated. North America consumes the largest amount of electricity for lighting in the world. The region consumes 864 terawatt hours (TWh) of power for lighting in a year. Europe follows North America as the second largest consumer of power for lighting. Major countries such as the US, Canada and the UK have adopted energy efficient lighting products such as Compact Fluorescent Lamps (CFL) as a solution to reduce electricity consumption for lighting.
According to the report “Compact Fluorescent Lamp (CFL) Market - Global Market Size, Price Analysis, Regulations and Key Countries Analysis to 2020” by GlobalData, the global CFL market size had increased from $6.82 billion in 2006 to around $9.44 billion in 2010 at a CAGR of 8.4%. Favorable legislation supporting CFL market development, rising energy demand and environmental concerns such as global warming are some of the major drivers of the market. Some of the major challenges inhibiting market growth are the lack of uniform standards, lack of awareness among consumers, hazards in waste disposal and expensive products in comparison with incandescent bulbs.
Compact Fluorescent Lamp (CFL) Market - Global Market Size, Price Analysis, Regulations and Key Countries Analysis to 2020
Published: March, 2012
Price: US$ 3.995,00
The CFL market is expected to see a huge growth in the near future, with increased sales due to the announced phase-out of inefficient lamps in many major lamp markets around the world. However, during the period of 2015-2020 market size will fall as sales volume during the period will be flat and there will be a fall in the average price of a CFL. The revenues from sales of CFL lamp is expected to increase by about 4% in the next ten year to approximately $14 billion by the end of 2020.
More information can be found in the report “Compact Fluorescent Lamp (CFL) Market - Global Market Size, Price Analysis, Regulations and Key Countries Analysis to 2020” by GlobalData.
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