February 27, 2002—Growing appetite for premium-priced, energy-saving lamp and luminaire designs is prompting accelerating growth in the European lighting equipment market, with sales hitting a massive $7.64 billion in 2001, says a recent report by Frost & Sullivan, an international market research group.
Progressing innovation and energy-saving improvements are the pre-eminent contributors to growth in the European lighting equipment market, expected to rack up sales worth $8.89 billion in 2008.
Paul Alexander, Research Analyst at Frost & Sullivan, notes that the rising need for security and vandalism prevention, necessitating heightened capital outlay in both the public and the private domain, will further inject vigour into the lighting equipment market.
Representing the lion’s share of the lighting equipment market with 65.8 per cent of sales in 2001, luminaires are poised to continue their growth march over the forecast period. The study points to the display and decorative luminaires and products for fluorescent and HID lamps as the most lucrative areas of the overall market.
The European Lighting Equipment Market is available from Frost & Sullivan.
