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Summary
The global lamps and bulbs market, which includes various lighting devices like incandescent bulbs, halogen lamps, compact fluorescent lamps, and LEDs, has been experiencing substantial growth, driven primarily by increasing urbanization in developing countries and advancements in LED technologies. As of 2020, the market was valued at $121.9 billion and is projected to reach $163.7 billion by 2027, growing at a compound annual growth rate (CAGR) of 4.3%. While developed regions such as the Asia-Pacific dominated with a market share of 47.2%, the French market has seen a decline due to stringent regulations, competition from Asian manufacturers, and a shift in market structure with many companies struggling to adapt to the LED-centric landscape.
Trends indicate a massive adoption of LED and smart lighting solutions, with some production moving back to France, especially in professional lighting products. Despite these challenges, there remains potential for growth in sectors like automotive and construction, which demand a significant number of lighting solutions. However, the French market has been contracting, impacted by a decrease in the number of manufacturers and their employees. Exports have marginally increased to $1.36 billion, but imports have risen more sharply from $1.73 billion to $2.14 billion, worsening the trade deficit and underscoring a reliance on Chinese imports.
Emerging Trends in the French Lighting Market Amidst a Technological Shift
The French market for lamps and bulbs has been witnessing significant transformations, particularly marked by a decline in the traditional manufacturing landscape and the rise of innovative technologies. The key trends shaping the market can be primarily attributed to the increasing penetration of LED technologies, the demand for smart lighting solutions, and the evolving regulatory environment that favors energy-efficient options. Currently, the global lighting market radiates opportunity, and despite the French market experiencing a downturn in recent years, evolving consumer preferences and policy-led changes are directing the industry towards a sustainable growth trajectory. Various market segments, including household consumers, the automotive industry, the construction sector, and public lighting, are contributing to the shifting dynamics.
The French market, while valued at approximately between 2.3 and 2.5 billion euros, reflects a significant drop from previous years, a result of increased competition from Asian manufacturers and a strategic pivot away from conventional incandescent and halogen light bulbs. The ban on incandescent and certain types of halogen light bulbs has precipitated an industry-wide restructuring. Consequently, there was a visible 37.7% decrease in sector turnover, and the market entered a stabilization phase, fluctuating within a tight range thereafter. The automotive and construction industries, traditionally two of the largest consumers of lamps and bulbs, have seen diverging trends post-2016. The automotive sector's continued revenue growth has not translated into increased turnovers for lighting equipment manufacturers, indicating that other actors, likely international ones, are meeting this rising demand. In contrast, the construction sector, following an initial slump, has seen resurgence, offering a beacon of hope for lighting manufacturers.
The market is driven by LED technology adoption and refurbishment of outdated systems, especially within tertiary real estate, where nearly 80% of lighting installations are deemed obsolete. However, the high upfront costs and perceived complexity of transitioning to LED are hindering a faster market shift. The French market is adjusting to the LED revolution, a trend punctuated by an expanded offering of smart, connected, and efficient lighting solutions. Smart lighting systems, operable through smartphones and capable of adjusting in intensity and color, are carving a lucrative niche in the market. Despite these trends, the French manufacturing landscape continues to face challenges, as indicated by a decline in the number of companies and employees in the sector, with notable drops of around 11% and 12.3%, respectively.
Prominent Figures in the Global Lamps and Bulbs Industry
The lamps and bulbs market is populated by a host of influential players, each contributing to the dynamic landscape with their specialized products and geographic footholds. From the pioneering legacy of Signify, to the German precision of Ledvance, and the American innovation of GE Lighting, let's take a closer look at these market leaders who are shaping the future of illumination.
- Signify (formerly Philips Lighting) Netherlands-based Signify, formerly known as Philips Lighting, is a longstanding pioneer in the lighting industry. Having cemented its reputation as a leader in lighting innovation, Signify has remained at the forefront of technological advancement in the sector. From the humble beginnings of the traditional incandescent bulb to the modern marvels of LED and smart lighting solutions, this company has traversed the entire spectrum of lighting evolution. Signify continues to push the envelope with its commitment to sustainability and energy efficiency, contributing significantly to the reduction of global energy consumption through its advanced lighting products.
- Ledvance (formerly Osram) Hailing from Germany, Ledvance represents the dynamic transformation of a traditional lighting manufacturer into a modern, cutting-edge provider of comprehensive lighting solutions. Formerly part of Osram, Ledvance has embraced the LED revolution, offering an array of products that cover various needs – from residential lighting comforts to commercial and industrial applications. With its dedication to quality and efficiency, it has managed to secure a significant position in the global market, pledging an illuminated path for consumers seeking reliable and high-performance lighting options.
- GE Lighting An icon in the American electrical landscape, GE Lighting has been illuminating homes and businesses for over a century. With a legacy tied to the very origins of electric lighting, the company has seamlessly adapted to the changing tides of technological trends. GE Lighting has made significant strides in promoting LED technology, recognizing its pivotal role in shaping a more energy-conscious and environmentally friendly future. As the industry gravitates towards smarter and more connected lighting solutions, GE Lighting's innovative spirit ensures it remains a key contender in the competitive global lighting market.
These titans of industry have not only responded admirably to technological shifts and regulatory changes but have also led the charge in the transition to more sustainable and innovative lighting solutions. Whether by design, efficiency, or ecological impact, their contributions have significantly enlightened the pathways for future growth within the lamps and bulbs sector.
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Inforamtion
- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 09/06/2023
Summary and extracts
1 Market overview
1.1 Presentation and market definition of lamps and bulbs
The light bulb and lamp market is composed of light bulbs (lighting devices, consisting of a transparent or translucent, gas-tight envelope containing a luminous body), lamps, and chandeliers.
There are several types of light bulbs, the main ones being incandescent bulbs, halogen lamps, compact fluorescent lamps, and LEDs. In addition, several consumer segments are to be distinguished. Households are not the only ones to consume lamps and bulbs, for decoration or maintenance. Automobile and construction are two industries that require a large number of light bulbs and lamps. Public lighting is also an important customer sector.
The world market is growing due to the urbanization of developing countries. It should thus grow by 4.3% per year between 2020 and 2027 driven by the global construction market and the development of LED technologies, particularly in Asia.
The French market, for its part, is in a phase of decline in recent years with the complete change in the market structure and the strong competition from Asian countries The ban on incandescent and halogen light bulbs has led to an upheaval in the sector and the players have had to close their production lines, often without replacing them, due to a lack of know-how in LEDs. Most of the supply has been relocated to Asian countries The number of French players on this market and their turnover is therefore constantly declining.
The main trends are the massive use of LEDs (replacing other light bulbs) but also the increase in the use of smart lighting with the intensity, color, etc, being managed remotely on a smartphone. Finally, some players are relocating to France, particularly for professional lighting products with the aim to be as close as possible to customers, who are more demanding than private individuals.
List of charts
- World lighting market
- Chiffre d'affaires des fabricants d'appareils d'éclairage électrique
- Commerce extérieur de lampes et luminaires
- Principaux pays de destination des exportations de luminaires
- Principaux pays d'origine des importations de lampes et ampoules
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Latest news
Castorama revises its formula in France to boost sales - 28/03/2024
- - Castorama sales down 4.8%.
- - Brico Dépôt sales down 7%.
- - Total sales in France down by almost 6%.
- - Strategies: modernization of stores, reduction of floor space by 30%, transition to franchising, and transfer to the Brico Dépôt banner.
- - By 2024-2025, 13 units will be specifically affected (2 franchised, 1 will become Brico Dépôt, 7 relaunched, and 3 reduced in size).
- - 15% of Castorama and Brico Dépôt sales are generated by major works (kitchens, bathrooms) linked to moves.
- - Introduction of Screwfix in France, with 23 current stores, planned to reach 15 more by 2024 and 600 in the long term.
Do-it-yourself bubble bursts, Leroy Merlin and Castorama tighten the screws - 15/10/2023
The health crisis had kept the French at home, and led to furniture purchases and building work.
For the first half of its financial year ending July 31, 2023, Kingfisher has announced a 3.8% drop in sales for Castorama, and even more for sister chain Brico Dépôt.
The Fédération des magasins de bricolage, the French federation of DIY stores, reported a small gain of 1.3% in value, a mini-progression which, with inflation, conceals a 3.5% year-on-year drop in volumes.
Kingfisher, which is developing its specialized Screwfix brand in France, and dedicated areas at Brico Dépôt
Alliance between Mr Bricolage, Castorama and Brico Dépôt - 24/05/2023
- Partner companies: Kingfisher (Castorama, Brico Dépôt), and Mr Bricolage
- Creation of Unio, a joint purchasing group
- Castorama and Brico Dépôt outlets: 218
- Castorama and Brico Dépôt sales: £4.4 billion (FY 2022-23)
- Mr Bricolage and Les Briconautes outlets: 977 (at January 1)
- International stores (Mr Bricolage and Les Briconautes): 74
- Sales volume of the Mr.Bricolage and Les Briconautes networks: 2.4 billion euros (in 2022)
Régis Mathieu, the goldsmith of light - 18/05/2023
Régis Mathieu makes French chandeliers shine around the world
In the Lubéron region and 30 years of restoration work
Mathieu Lustrerie participates in the sets for Maïwenn's Jeanne du Barry with Johnny Depp
76th Cannes Film Festival
Pompadour chandelier re-edited for Indian owner
Museum and workshop open to the public free of charge in Luberon
Lights on 60 years of Porsche 911" exhibition
Chandeliers in French historical monuments, including the Château de Versailles, the Louvre Museum, the Paris and Monaco Operas
Arthur, Régis's son in pilot training at Porsche
Inès, daughter of Régis, joined the company a few months ago
General Electric benefits from aeronautics - 25/04/2023
General Electric (GE) first-quarter global sales:
Increase of 14% to $14.5 billion.
Sales increase in aerospace division: 25%.
Renewable energies division sales down 1%.
Sales in traditional energies division up 9%.
GE first-quarter 2022 net loss: $1.1 billion.
GE first-quarter net income: $7.4 billion.
Full-year adjusted earnings per share forecast: between $1.70 and $2 (low range raised from previous forecast of $1.60 to $2).
GE share price increase before the Wall Street opening: 1.8%.
Planned separation of GE's energy and aerospace businesses: early 2024.
GE raises its guidance after a good 1st quarter - 25/04/2023
Full-year earnings forecast: adjusted earnings between $1.70 and $2 per share (previously $1.60-2).
Cash flow forecast: between $3.6 billion and $4.2 billion ($200 million increase at lower end of range).
First-quarter cash flow: $102 million.
First-quarter sales: $14.49 billion (up 14% year-on-year).
FactSet analysts' consensus for first-quarter sales: $13.10 billion.
First-quarter sales for the Aeronautical Division up 25%.
First-quarter sales for the renewable energies division: down 1%.
First-quarter sales for the Energy Division: up 9%.
First-quarter adjusted earnings: 27 cents per share (versus a loss of 9 cents per share a year earlier).
FactSet consensus for first-quarter earnings: 14 cents per share.
GE shares: up 1.4% to $101.53 in reaction to the announcements.
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