PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1273284
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1273284
Lighting Transformer Market Forecasts to 2028 - Global Analysis By Type (Isolation, Magnetic and Electronic), Power Rating (Small, Medium and Large), Application and By Geography
According to Stratistics MRC, the Global Lighting Transformer Market is accounted for $1.26 billion in 2022 and is expected to reach $1.75 billion by 2028 growing at a CAGR of 5.6% during the forecast period. A lighting transformer is a piece of electrical equipment used to power lighting fixtures by converting the voltage of an electrical circuit to a different voltage level. By altering the voltage going through a circuit and using a transformer, a light may be made brighter or darker. They are often more compact and work at lower temperatures. The power of these transformers is capped at 300 W. The power handling capability of lighting transformers is likewise significantly lower than that of magnetic transformers.
According to a report, European Union's Energy Performance of Buildings Directive (EPBD) mandates that all new buildings must be nearly zero-energy buildings (NZEBs) by 2021.
Market Dynamics:
Driver:
Increasing demand from residential and industrial sectors
The lighting transformers are facing huge demand from residential and industrial sectors. Furthermore, an uptick in demand for electronic transformers from sectors of the economy that need devices with voltages of 33 kV and 440V-220V for home use in residential regions is anticipated to drive the market for these devices globally during the course of the forecasted year.
Restraint:
Limited technology advancements
The vast size and intricate construction of the power transformers, along with the necessary external components and accessories, represent the most sophisticated power transformer technology. The shipping, assembly, and installation processes are needlessly drawn out because to the vast size and exterior components. These elements are restricting market developments.
Opportunity:
Raising government policies
Governments all around the world are implementing programmes to encourage lighting that uses less energy. The need for energy-efficient lighting solutions is being fuelled by governments enacting policies and laws to minimise energy use and greenhouse gas emissions. These initiatives have led to increased adoption of energy-efficient lighting solutions, driving the demand for lighting transformers that can handle the unique voltage requirements of LED lighting.
Threat:
High initial costs
Despite long-term energy and cost savings from energy-efficient lighting options like LED lighting are considerable, some consumers may find the upfront expenses to be unaffordable, especially in developing countries or for those on limited financial resources. Energy-efficient lighting system's high initial prices are a significant obstacle to their adoption in many areas.
COVID-19 Impact:
The COVID-19 pandemic-related lockdown led to a temporary prohibition on production, processing, and import/export across a range of businesses, which reduced consumer demand for a range of goods. However, because to the increased demand for lighting transformers in hospitals, the pharmaceutical industry, and other applications during the pandemic, the market's growth was not significantly impacted.
The isolation segment is expected to be the largest during the forecast period
The isolation segment is estimated to have a lucrative growth, due to the growing need for safety and dependability in lighting systems. Electrical isolation between the input and output circuits is a feature of isolation transformers that helps to lower the danger of electrical shock and safeguards against voltage spikes and surges.
The electronic segment is expected to have the highest CAGR during the forecast period
The electronic segment is anticipated to witness the fastest CAGR growth during the forecast period. This is generally because electronic lighting transformers are being used more often in a variety of applications, including indoor and outdoor lighting, automobile lighting, commercial and residential lighting. Since they are more effective and provide more control over lighting output, electronic transformers are chosen over the other types of transformers.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. The Asia Pacific region is one of the largest markets for lighting transformers sizable portion of the industry. Due to its fast urbanisation, rising demand for energy-efficient lighting systems, and supporting government efforts, the area is anticipated to maintain its market dominance throughout the projection period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increasing investments and supportive government policies. The expansion of lighting transformer markets is anticipated to be fuelled by consumer demand for energy-efficient lighting systems, rising LED usage and improvements in smart lighting technologies in the region.
Key players in the market:
Some of the key players profiled in the Lighting Transformer Market include: ABB Ltd, Siemens AG, Eaton Corporation Plc, Schneider Electric SE, Legrand S.A., General Electric Company, WAGO Kontakttechnik GmbH & Co. KG, Philips Lighting Holding B.V., Acme Electric Corporation, OSRAM Licht AG, SolaHD, Hubbell Incorporated, Lutron Electronics Co. Inc., SNC Manufacturing Co. Inc., Bemag Transformer Inc., Marcus Transformers, Hammond Power Solutions Inc., Tamura Corporation, Trans Power Tech and Noratel AS.
Key Developments:
In March 2023, Siemens Smart Infrastructure has launched Connect Box, an open and easy-to-use IoT solution designed to manage small to medium-sized buildings. Connect Box is a user-friendly approach for monitoring building performance, with the potential to optimize energy efficiency by up to 30 percent and to substantially improve indoor air quality.
In February 2023, ABB announced to launch an array of products and solutions at ELECRAMA 2023. ABB Cylon building products and solutions can satisfy the facility's requirements by using open protocols, utilising universal and secure internet standards, and incorporating cutting-edge technologies.
In February 2023, Schneider Electric, the leader in the digital transformation of energy management and automation, launched its new Industrial Digital Transformation Services. The specialized global service is designed to help industrial enterprises achieve future-ready, innovative, sustainable, and effective end-to-end digital transformation.
Types Covered:
- Isolation
- Magnetic
- Electronic
Power Ratings Covered:
- Small
- Medium
- Large
Applications Covered:
- Residential & Commercial
- Utility
- Industrial
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Lighting Transformer Market, By Type
- 5.1 Introduction
- 5.2 Isolation
- 5.3 Magnetic
- 5.4 Electronic
6 Global Lighting Transformer Market, By Power Rating
- 6.1 Introduction
- 6.2 Small
- 6.3 Medium
- 6.4 Large
7 Global Lighting Transformer Market, By Application
- 7.1 Introduction
- 7.2 Residential & Commercial
- 7.3 Utility
- 7.4 Industrial
8 Global Lighting Transformer Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 ABB Ltd
- 10.2 Siemens AG
- 10.3 Eaton Corporation Plc
- 10.4 Schneider Electric SE
- 10.5 Legrand S.A.
- 10.6 General Electric Company
- 10.7 WAGO Kontakttechnik GmbH & Co. KG
- 10.8 Philips Lighting Holding B.V.
- 10.9 Acme Electric Corporation
- 10.10 OSRAM Licht AG
- 10.11 SolaHD
- 10.12 Hubbell Incorporated
- 10.13 Lutron Electronics Co. Inc.
- 10.14 SNC Manufacturing Co. Inc.
- 10.15 Bemag Transformer Inc.
- 10.16 Marcus Transformers
- 10.17 Hammond Power Solutions Inc.
- 10.18 Tamura Corporation
- 10.19 Trans Power Tech
- 10.20 Noratel AS
List of Tables
- Table 1 Global Lighting Transformer Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 4 Global Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 5 Global Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 6 Global Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 7 Global Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 8 Global Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 9 Global Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 10 Global Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 11 Global Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 12 Global Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 13 Global Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
- Table 14 North America Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
- Table 15 North America Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 16 North America Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 17 North America Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 18 North America Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 19 North America Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 20 North America Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 21 North America Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 22 North America Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 23 North America Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 24 North America Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 25 North America Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 26 North America Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
- Table 27 Europe Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
- Table 28 Europe Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 29 Europe Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 30 Europe Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 31 Europe Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 32 Europe Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 33 Europe Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 34 Europe Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 35 Europe Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 36 Europe Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 37 Europe Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 38 Europe Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 39 Europe Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
- Table 40 Asia Pacific Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
- Table 41 Asia Pacific Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 42 Asia Pacific Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 43 Asia Pacific Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 44 Asia Pacific Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 45 Asia Pacific Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 46 Asia Pacific Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 47 Asia Pacific Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 48 Asia Pacific Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 49 Asia Pacific Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 50 Asia Pacific Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 51 Asia Pacific Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 52 Asia Pacific Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
- Table 53 South America Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
- Table 54 South America Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 55 South America Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 56 South America Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 57 South America Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 58 South America Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 59 South America Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 60 South America Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 61 South America Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 62 South America Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 63 South America Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 64 South America Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 65 South America Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
- Table 66 Middle East & Africa Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
- Table 67 Middle East & Africa Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
- Table 68 Middle East & Africa Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
- Table 69 Middle East & Africa Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
- Table 70 Middle East & Africa Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
- Table 71 Middle East & Africa Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
- Table 72 Middle East & Africa Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
- Table 73 Middle East & Africa Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
- Table 74 Middle East & Africa Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
- Table 75 Middle East & Africa Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
- Table 76 Middle East & Africa Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
- Table 77 Middle East & Africa Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
- Table 78 Middle East & Africa Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
