Plasma Lighting Market Size Expected to Grow at a CAGR over 4.72% from 2024 to 2032

Pune, India, October 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Plasma Lighting Market.

Plasma Lighting Market Highlights

The Global Market for  Plasma Lighting was valued at USD 0.42 Billion in 2023; it is expected to reach USD 0.64 Billion by the end of the forecast period at a CAGR of 4.72%. The trend of plasma lighting is gaining popularity, and companies are continuously focusing on developing technologies for roadways, highways, and sports & entertainment applications. Increasing the government's focus on energy-efficient light sources and energy conservation and increasing infrastructure are expected to drive the market during the forecast period. However, the high initial cost of plasma lights is expected to restrain the market during the forecast period.

Key Players

The key players in the Plasma Lighting Market are Ceravision (UK), Hive Lighting (US), KA Shui International Holdings (Hong Kong), Gavita (Netherlands), Green De Corp (Hong Kong), Griffin & Ray (UAE), Fusionlux (Luxembourg), Guangzhou Kaiming Industries (China), Birns (US), Solaronix (Switzerland), RFHIC Corporation (South Korea), and Pure Plasma Lighting (US) among others.

Regional Analysis

Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to a number of smart city initiatives, growing smart building market, and many other development projects. China, Japan, Taiwan, and India are expected to dominate the market and Australia, Singapore, and New-Zealand are expected to grow at a steady rate during the forecast period. Europe is expected to dominate the plasma lighting market during the forecast period. Government initiatives regarding smart lighting control systems are expected, and the presence of global players such as Gavita International BV is expected to drive the market in European countries. Germany, the UK, the Netherlands, Sweden, Italy, and France are expected to grow at a high rate during the forecast period. However, Portugal, Norway, Switzerland, and the rest of Europe are expected to grow at a stable rate during the forecast period. The markets in the Middle East and Africa and South America are expected to grow at a stable rate during the forecast period.

Segmental Analysis 

By wattage, the plasma lighting market has been segmented into 100 W, 700 W, and 300W. By distribution channel, the plasma lighting market has been segmented into retail and commercial. By application, the plasma lighting market has been segmented into street lighting, highways, sports & Entertainment, tunnel lights, horticulture, and others. By region, the plasma lighting market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.