The global HID ballast market is forecasted to undergo a notable contraction, reflecting a Compound Annual Growth Rate (CAGR) of -9.8% from 2022 to 2027, according to analysis by Future Market Insights, Inc. This substantial reduction is anticipated to result in a decline from the market’s current valuation of USD 6.8 billion in 2022 to a diminished value of USD 3.6 billion by 2027. Notably, HID ballasts currently hold a modest 5.6% market share within the broader global lighting products market.
Despite their limited presence, this segment has been affected by stringent governmental regulations aimed at promoting energy-efficient lighting solutions on a global scale. Governments worldwide have actively endorsed environmentally friendly and sustainable lighting alternatives to mitigate energy consumption and address concerns related to climate change. Consequently, traditional HID ballasts have encountered challenges in adapting to the evolving lighting landscape, characterized by a surge in the adoption of LED and other energy-efficient alternatives.
Global HID Ballast Market: Forecast by Sales Channel
The sales channel segment comprises offline and online segments. Offline sales has been a prominent channel for most of the market players due to the fact that they gain direct access to the customer to portray their offerings. It offers high chances of negotiations and also helps build better business relations. On the other hand growing internet infrastructure is likely to create significant opportunities for market players aiming to capitalise on lucrative opportunities in the untapped markets of several developing nations.
Global HID Ballast Market: Forecast by Product Type
On the basis of product type, global HID ballast market is segmented into electromagnetic ballast and electronic ballast. Electromagnetic ballast technology improves the performance of lighting systems owing to its higher efficiency, optimal lumen maintenance as well as enhanced colour control over magnetic HID Ballast. The electromagnetic ballast segment is estimated to be valued at USD 1,038.5 Mn in 2022 and this is anticipated to reach USD 287.1 Mn by the end of 2027. Due to limited usability and subsequently decreasing sales in the global market, the electromagnetic ballast segment is expected to shrink rapidly over the forecast period.
Global HID Ballast Market: Forecast by Application
On the basis of application, the global HID ballast market is segmented into automotive, residential, commercial, industrial, and outdoors. Automotive components manufacturers, mainly headlights and headlamps manufacturers, are focussing on the manufacturing of energy efficient lamps such as HID lamps and LED lamps to enhance the vision of the driver. The automotive application segment was pegged at 64,510 (‘000 Units) in 2021 and is expected to reach 28,327 (‘000 Units) by 2027 end while expanding at a CAGR of -7.5% over the forecast period.
Global HID Ballast Market: Forecast by Region
The key regions of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are covered in this report. Growing construction infrastructure, a rapidly expanding commercial sector and rising demand for outdoor and parking lighting are providing high traction for the HID ballast market in APEJ.
Key Players:
- Philips Lighting Holding B.V.
- General Electric Company
- Fulham Co. Inc.
- Villa Industrias S.A. de C.V.
- Eaton Corporation
- Westinghouse Electric Corporation
- Morimoto HID
- Satco Products Inc.
- Howard Industries Inc.
- Halco Lighting Technologies
- Iris Energy Private Limited
- OSRAM Licht AG
- HELLA KGaA Hueck & Co.
- Universal Lighting Technologies
- GUANGZHOU FUCHW INDUSTRIAL CO. LTD.
- Lighting and Power Technologies LLC
- Advanced Lighting Technologies Inc.
Key Segments of HID Ballast Industry Survey:
HID Ballast Market by Product Type:
- Electromagnetic HID Ballasts
- Electronic HID Ballasts
HID Ballast Market by Application:
- HID Ballasts for Automotive
- HID Ballasts for Residential
- HID Ballasts for Commercial
- HID Ballasts for Industrial
- HID Ballasts for Outdoors
HID Ballast Market by Sales channel:
- Online Sales of HID Ballasts
- Offline Sales of HID Ballasts
HID Ballast Market by Region:
- North America HID Ballast Market
- Latin America HID Ballast Market
- Europe HID Ballast Market
- East Asia HID Ballast Market
- South Asia & Pacific HID Ballast Market
- Middle East & Africa (MEA) HID Ballast Market
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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