Light Control Switches Market Is Expected to Reach USD 6.25 Billion by 2022 by Miller@21 · January 24 Matthew Tkachuk Flames Jersey , 2019
According to a new market research report “Light Control Switches Market by Product Type (Manual Switches, Electronic Switches and Dimmers), Light Source (Incandescent & Halogen, Fluorescent, LED, HID), End Users and Geography – Global Forecasts to 2022″, the total light control switches market size, in terms of value, is expected to reach USD 6.25 Billion by 2022, at a CAGR of 7.9 %; and in terms of volume, the market size is expected to reach 2.85 Billion units by 2022, at a CAGR of 8.8% during the forecast period. The growing demand for energy savings within the general lighting applications is expected to be the major factor driving the market.
Residential lighting is expected to lead the light control switches market for end users in terms of volume
The rebound in housing in North America and Europe as well as the urban growth in Asia-Pacific is expected to drive the consumption of light switches & dimmers by residential end users. The commercial end users is expected to lead the market size in terms of value owing to the faster penetration of high-value products such as wireless switches & dimmers compared to residential sector.
Get Free 10% Customization @ Light control switches market for electronic switches is expected to exhibit high growth during the forecast period
Electronic switches include wireless switches, sensor-based switches, and others. The adoption of electronic switches is increasing owing to their ability to control lights effectively and ensure higher energy savings, leading to a very high growth during the forecast period.
The market in the RoW region is expected to grow at the highest rate during the forecast period
The market in Rest of the World (RoW) which includes Middle East & Africa and Latin America is expected to grow at the highest CAGR between 2016 and 2022 because of the rapid electrification and urbanization in Africa and also the increasing expenditure on infrastructure development in the Middle East.
The key players in this market are Legrand (France), Leviton (U.S.), Lutron (U.S.), (U.S.), Cooper Industries (U.S.), Hubbell Lighting (U.S.), Honeywell International Inc. (U.S.), Philips N.V. (Netherlands), and Osram (Germany).
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07.09.2019 05:43
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