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HID Ballast Market Led to Achieve Impulsive Growth during Forecast Period, (2017-2027)

Apr 4th 2019 at 3:53 AM

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalog by adding a fresh study titled “HID Ballast Market Led to Achieve Impulsive Growth during Forecast Period, (2017-2027)”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2027. The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated with a growth of manufacturers in the global market for HID Ballast. Along with these insights, the report provides the readers with crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

Companies in the global HID ballast market are focussing on expanding their businesses in the growing markets of developing countries and offering high quality products at competitive prices. Increasing product innovations (offering products with advanced technology) and customized solutions that can meet multiple requirements at a lower cost will emerge as a prime differentiating factor in the long term. Most of the developed countries across the globe are benefitting from government initiatives that promote innovation. However, several developing countries are yet to implement any regulations in this field. These countries also have a large stock of preinstalled HID systems, which can turn out to be a major aftermarket opportunity for market players.

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Growing dominance of LEDs in most of the applications is the major hindrance in the growth of the global HID ballast market

LED is emerging as one of the most promising technologies in terms of commercial viability in the future among several kinds of clean technologies such as photovoltaic solar power, wind power, and electric vehicles. With technological innovations and advanced energy saving options, LEDs have gained high popularity in the overall lighting market. The price of LEDs is tumbling rapidly, helping drive technology transition. The green revolution in lighting is also continuing apace, with other energy-efficient lighting technologies being acknowledged as a bridge towards full LED penetration.

Stringent regulations related to energy efficiency across the globe are fuelling the penetration of energy-efficient light sources such as LEDs. Most of the legislations focus mainly on two bases, i.e., controlling the energy distribution balance (supply – demand balance) and ensuring compliance with global environmental emission norms. This is expected to boost the uptake of low-energy light sources that help close the looming energy gap.

Governments around the globe are accelerating initiatives in this field along two dimensions – banning inefficient technologies and developing stringent legislations on energy efficiency requirements and offering incentives for entire building infrastructures. This path will further propel energy-efficient lighting technologies such as LEDs and other SSLs. In recent times, several revolutionary bans have been imposed in various countries such as the Chinese amendment to ban incandescent light bulbs. Europe is further accelerating the switchover to more ecological lighting sources by extending its regulations to ban low-voltage halogen lamps, and the government of India is taking initiatives to provide LED bulbs at subsidised rates.

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Outdoor and automotive application segments projected to witness increased market share in the overall sales of HID ballast during the forecast period

HID luminaries are extensively used in industrial lighting and require a decently laminated environment in order to maintain proper working conditions. The residential application segment is estimated to be valued at US$ 35.6 Mn in 2017 and is anticipated to be valued at US$ 11.9 Mn by the end of 2027. Though the popularity of LED and other SSLs is growing, outdoor lighting is still a large carpet for the HID ballast market to stretch its capabilities.

Global HID ballast market structure

The global HID ballast marketis highly unstructured and varies among countries and regions. It involves the participation of a large number of players holding prominent share in respective local markets. Major players portraying their products in the global lighting industry hold a substantial share due to their brand image. Tier-1companies such as Philips Lighting Holding B.V., General Electric Company, OSRAM Licht AG, Westinghouse Electric Corporation, and Halco Lighting Technologies among others generate over US$ 100 Mn from the sales of HID luminaries and related parts and hold a cumulative share of 25%–35%in the global market.

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