18 April 2012 – The market for compact fluorescent lamps should grow in the next few years according to a report by business intelligence company GlobalData, but the market is still inhibited by a lack of uniform standards, hazards in waste disposal, and the high cost of CFL products.
The increase in the CFL market was due to a steep rise in the market for new lamps and for replacements, the report said.
Lighting appliances consume about 19 per cent of total generated electricity. Environmental concerns and government awareness programs drive the CFL market, as the need to decrease emissions has compelled countries to look for clean technologies, the report says.
North America consumes the largest amount of electricity for lighting globally, followed by Europe.
The need for efficient power consuming technologies has boosted the sales of CFLs in many developing countries – proving that the technology is attractive at all economic levels, the report says.
The phase-out of inefficient lamps drove CFL unit sales throughout 2006-2010, and the continuation of this phase-out until 2014 is expected to support the CFL market in the future.
The replacement market is expected to increase its contribution in total CFL sales during the forecast period, due to the growing use of CFLs worldwide.
In 2010, the replacement market consisted of around 40 per cent of total CFL sales, but by 2020, much of the world will have already adopted this technology – with more than 85 per cent of sales stemming from the lamp replacement market.
Favorable legislation, rising energy demand, and environmental concerns are major market drivers but The global CFL market size increased from $6.82 billion in 2006 to $9.44 billion in 2010 at a compound annual growth rate of 8.4per cent. Revenue from CFL sales is expected to increase by about 4per cent over the next ten years to reach approximately $14 billion by the end of 2020.