Global Energy Efficient Lamps Market is estimated to reach US$ 17 Bn by 2026 in terms of revenue at a CAGR of 14.34 % in the forecast Period. The fast reduction of natural resources & global warming has produced a crucial requirement for energy conservation across the world. In 2016, lighting applications were projected to account for more than 20% of total energy consumption. There is an instant requirement to decrease this energy consumption, & governments across the world are focusing on the application of constructive policies to endorse the usage of energy-efficient lighting products.
The field of lighting has witnessed marvelous developments in the past few years, especially in the region of solid state lighting and compact fluorescent lamps (CFL). The traditional incandescent bulbs market is anticipated to be out-dated with the onset of CFL and LEDs.
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