According to a new report, published by KBV research, The Global Plasma Lighting Market size is expected to reach $618.4 million by 2031, rising at a market growth of 5.4% CAGR during the forecast period.
The Bulb Assembly segment registers a CAGR of 4.8 % during the forecast period. The bulb assembly segment gains traction due to its role in housing and protecting the plasma, directly influencing the durability and longevity of plasma lighting systems. Its robust design makes plasma lighting a feasible choice for heavy-duty applications, such as outdoor installations and industrial sites where reliability is paramount.
The 300W segment is leading the Global Plasma Lighting Market by Wattage in 2023; thereby, achieving a market value of $231.3 million by 2031. This wattage is ideal for indoor environments, such as horticulture, retail spaces, and commercial facilities, where full-spectrum, high-quality light is needed without the high energy consumption associated with higher wattages. Its balance of brightness and efficiency allows for sustainable lighting solutions in greenhouses and indoor farms, where plasma lighting’s natural light quality supports plant growth.
The Industrial segment would experience a CAGR of 5.2% during (2024 - 2031). Plasma lighting’s durability and high-intensity output are well-suited for industrial environments requiring robust and efficient lighting. Factory applications, warehouses, and manufacturing plants benefit from plasma lighting’s resilience in harsh conditions. This supports a reliable lighting solution that can withstand heavy use and contribute to productivity and safety in demanding workspaces.
Full Report: https://www.kbvresearch.com/plasma-lighting-market/
The Asia Pacific region dominated the Global Plasma Lighting Market by Region in 2023; thereby, achieving a market value of $269.4 million by 2031. The North America region is expected to witness a CAGR of 4.7% during (2024 - 2031). Additionally, The Europe region would capture a CAGR of 5.2% during (2024 - 2031).
By Component
By Wattage
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