The Business Research Company’s High Intensity Discharge (HID) Bulbs Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, May 4, 2021 /EINPresswire.com/ — HID bulbs market analysis shows that stringent energy efficiency standards and regulations imposed on the HID lamps is acting as a restraint on the market. The category of HID bulbs like metal halides are subjected to tighter regulatory standards. For instance, the U.S. Department of Energy (DOE) issued new energy efficiency standards for metal halide luminaries and tightened the standards by expanding the coverage from low-wattage (50-149W) to high-wattage (501-1000W) luminaires. These strict regulations are impacting the growth of the HID bulbs market.
The global high intensity discharge (HID) bulbs market size is therefore expected to decline from $6.55 billion in 2020 to $5.66 billion in 2021 at a compound annual growth rate (CAGR) of -13.6%. The decline in high intensity discharge bulbs growth rate is attributed to the strict energy efficiency standards and growing inclination towards cost-effective substitutes. The global HID bulbs market is expected to reach $3.46 billion in 2025 at a CAGR of -12%.
HID bulbs manufacturing companies are now focusing on introducing new technologically advanced products into the market. In addition to design, manufacturers are also focusing on energy-efficiency by investing in in-house R&D and forming strategic partnerships. Manufacturers are focusing on producing HID lamps with limited light pollution compared to LED and metal halide, and improved life.
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The market covered in the high intensity discharge (HID) bulbs market report is segmented by product type into metal halide light, high-pressure sodium light, xenon arc light, other; by application into industrial, agriculture, medical, other; by distribution channel into OEM, aftermarket; by mode into online, offline.
Major players in the high intensity discharge (HID) bulbs market are Acuity Brands Lighting Inc., Lithonia Lighting, Bulbrite Industries Inc., Contrac Lighting, Crompton Greaves Ltd., EYE Lighting International of North America Inc., Feit Electric Company, General Electric Company, and Halonix Limited.
High Intensity Discharge (HID) Bulbs Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides High-Intensity Discharge Bulbs Market overview, forecast High-Intensity Discharge Bulbs Market size and growth for the whole market, High-Intensity Discharge Bulbs Market segments, and geographies, High-Intensity Discharge Bulbs Market trends, High-Intensity Discharge Bulbs Market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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