Xenon bulbs emit a clean and white light which is similar to natural sunlight. They are used in HID (high-intensity discharge) lighting and are better alternatives to halogen bulbs. These bulbs use a xenon gas-charged and sealed system instead of a filament to generate light through an electric charge between two electrodes. They offer high light output, consumes low energy and have a longer life span. Xenon lights are more cost-effective than other halogen lights and are rapidly replacing them in various industries. They are extensively used in searchlights, projectors and for specialized applications across industries and research institutes to simulate natural sunlight. According to IMARC Group’s latest report, titled “Xenon Lights Market: Global Industry Trends, Share, Size, Growth, Forecast and Opportunity 2019-2024”, the global xenon lights market reached a value of US$ 9.5 Billion in 2018.
The growth aspects of the market are projected to be propelled by the evolution of new applications of xenon. In automobiles, xenon lights are used as headlights to ensure visibility for the driver and indicate the position of other vehicles. They are also used to enhance the design and appearance of modern cars. Moreover, design-oriented driving enthusiasts use xenon lights to customize the underbody and interior of their cars. As a result, the thriving automobile industry is enhancing the demand for the xenon lights. Further, with growing popularity of ambient lighting, the consumers are valuing interior lighting design and colour which has compelled the vendors to use xenon lights for interior lighting. According to the report, the market is expected to reach a value of US$ 18.8 Billion by 2024, exhibiting a CAGR of 12% during 2019-2024.
The report has segmented the market on the basis of applications into automotive headlights, theatre and movie projectors, and interior lighting. Among these, automotive headlights account for the majority of the market share. Region-wise, the report covers Asia-Pacific, Europe, North America, Middle East and Africa, and Latin America. Currently, Asia-Pacific represents the largest region, accounting for the majority of the market share. The report has also analysed the competitive landscape of the market with some of the key global players being Osram, General Electric, Philips, Stanley Electric and Hella.
This report provides a deep insight into the global xenon lights industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the xenon lights industry in any manner.
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