The global Dimmers market is expected to be impacted significantly by COVID-19.
The global Dimmers Market report explores the critical analysis of the dimmers industry using key parameters. The report consists of investment strategies, the need for investments in the dimmers industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the dimmers industry, as well as how economic and non-economic barriers are helping the dimmers market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
To learn how our report can help you streamline your business, Request Sample Here
In 2021, North America was one of the major contributors to the global dimmers market because of the rapid use of LED lighting solutions and smart lighting control systems. The U.S. and Canada significantly influence the market's expansion. This is a result of the widespread use of smart homes in nations like the United States and Canada. The region's market is expanding due to a better quality of life and a rising need for smart dimmers to conserve energy and money. The need for energy-efficient lighting solutions is likely to expand, and strict government regulations will encourage the use of environmentally friendly products.
Manufacturers' increasing technical improvements during the predicted period open up new possibilities for market expansion. For the residential sector, the providers recommend dimmers for every room to maximize energy savings. Additionally, profitable chances for the overall expansion of the dimmers market are being presented by remote control and the integration of mobile applications. For instance, the second generation Dimmer switch from Philips features a Hue button and a time-based lighting scene mode. Market rivalry is extremely fierce due to the configuration at the pricing point. The item has added value due to its long battery life and ability to cling to metal surfaces. On the other hand, the smart switch, a three-way dimmer that allows the user to operate the circuit from two distinct locations, has been introduced by Amazon. Due to new features like voice control and mobile application control, the residential sectors now operate more efficiently and conveniently.
The emergence of smart street lighting systems, sensor technologies, and smart lighting technologies are set to provide the dimmer market with more wind in its sails thanks to advancements in wireless technology. As companies prioritize innovations and new technologies, the dimmer market is anticipated to be inundated with new and inventive smart dimmer goods. Technology advancements in the present dimmers market mostly focus on enhancing lighting performance and lowering energy consumption. As LED technology's efficiency has advanced in recent years, so has consumer demand for dimmer products.
The company's goal is to invest in linked lighting systems, resulting in multiple contracts to deliver connected lighting systems and other lighting control equipment. Various investments are made among the key players. For instance, in October 2019, Eaton's Cooper Lighting Solutions would be acquired by Signify N.V. for USD 1.4 billion in cash. The first half of 2020 is anticipated to see the completion of this transaction. With this acquisition, signify would improve its position in the North American professional lighting industry. Similarly, in February 2019, Zumtobel Group received the second Euro 40 million tranche from the European Investment Bank (EIB) as part of a Euro 80 million financing agreement to support its R&D endeavors.
Some of the major key players in the market are Acuity Brands Inc., Hubbel Control Solutions, Signify, Cree Inc., ABB Limited, Caribe Corporation, Lutron Electronics Inc., OSRAM Licht AG, Siemens, and LSI Industries Inc.
The increased integration of IoT technology into connected lighting systems, improved wireless communication technology, and greater awareness of energy efficiency's environmental and technological benefits will emerge as important factors driving market expansion. Furthermore, its numerous benefits, such as lower energy consumption, increased security and life duration, easier customization, and dimmer systems, will increase market value. An increasing number of smart cities and infrastructure upgrades for key end-user applications such as restaurants, the residential sector, and others are driving the expansion of the Dimmers Industry. The rising need for energy and government attempts to promote energy conservation are creating profitable chances for the Dimmers market's overall growth.
It is expected that the market growth will be hampered by the primary end-user industries' lack of knowledge about dimmers, particularly in emerging nations. The general expansion of the dimmers industry is also hampered by greater installation prices and a lack of technical expertise in some areas for installation. The main commercial issue is the increased production and ownership expenses for the dimmers fixture, which are disproportionately pricey.
In 2021, the wireless dimmers category led the overall dimmers market, and this trend is projected to continue over the projected period. Wireless smart dimmers can turn on or off the lights like conventional dimmer switches. They also benefit from being managed by automation software. Furthermore, it enables the operation of lights ordinarily incompatible with wireless light bulbs. The increase is linked to the worldwide expansion of Wi-Fi and the internet of technology. Ultimately, the need for wireless dimmers for lighting control systems, the requirement for smart automation lights, and the expanding use of wireless communication protocols like Wi-Fi, Bluetooth, and Zigbee are driving market expansion.
In 2021, the global dimmers market was dominated by North America. Due to rising demand for energy-efficient lighting solutions and strict government regulations supporting eco-friendly products during the forecast period, the North American dimmers market is anticipated to expand quickly. The main reasons driving the dimmers market's overall growth are the rising investments in North American nations and the endeavors to modernize the infrastructure with smart homes and smart lighting control systems. The U.S. and Canada significantly influence the market's expansion. The region's market is expanding due to a better quality of life and a rising need for smart dimmers to conserve energy and money. Strong growth has been observed throughout the region due to increased demand for energy-efficient lighting options; additional factors driving this trend include strict government regulations that support environmentally friendly products and the rapid uptake of electric vehicles, which will result in higher electricity usage requirements over the forecast period.
Besides, due to the rising number of Dimmer manufacturing facilities and the abundance of investors in nations like India, Japan, China, and South Korea, the Asia-Pacific region is also anticipated to have consistent expansion in the dimmers market over the forecast period. Due to the presence of cutting-edge technology, the accessibility of raw materials, and several other important aspects, it is anticipated that these manufacturing facilities will have a greater scope. Expanding smart street lighting and government programs to upgrade infrastructure also contribute to the local market's growth.
Government programs for energy conservation provide the regulatory environment for this market, which encourages the use of dimmers. For instance, dimmers effectively save energy; they can reduce consumption by roughly 25%. According to the Energy Policy and Conservation Act, as modified (the "EPCA"), DOE is allowed to control the energy efficiency of various consumer goods and some industrial machinery.
The global Dimmers Market is anticipated to grow at a substantial CAGR of 16.30% in the upcoming years. The global Dimmers industry was estimated to be worth USD 15.8 billion in 2021 and was expected to be worth USD 39.1 billion by 2028.
The key players in the dimmers market are investing in the dimmers market. To maximize energy savings, the providers suggest dimmers for every room in residential buildings. Additionally, incorporating remote control and mobile applications provides the dimmers business with fruitful opportunities for overall growth. During the forecast period, manufacturers will continue to make technical advancements, creating new market growth opportunities.
Global Dimmers Market – By Type
Global Dimmers Market – By Connectivity
Global Dimmers Market – By Application
Global Dimmers Market – By Region
The global Dimmers market is expected to be impacted significantly by COVID-19.
North America accounted for the highest share in the global Dimmers market in terms of value.
The increased integration of IoT technology into connected lighting systems, improved wireless communication technology, and greater awareness of energy efficiency's environmental and technological benefits will emerge as important factors driving market expansion.
The fluorescent dimmers segment had a significant share in 2021, with more than 30% of the market revenue share.
Wireless dimmers segment had a significant share in 2021, with more than 60% of the market revenue share.
Report Attribute | Details |
---|---|
Market Value in 2021 | USD 15.8 billion |
Market Value in 2028 | USD 39.1 billion |
CAGR | 16.30% |
Benchmarking Year | 2021 |
Past data | 2016 – 2021 |
Forecast period | 2022 – 2028 |