Lighting Transformer Market
PUBLISHED: 2023 ID: SMRC22829
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Lighting Transformer Market

Lighting Transformer Market Forecasts to 2028 - Global Analysis By Type (Isolation, Magnetic and Electronic), Power Rating (Small, Medium and Large), Application and By Geography

4.3 (59 reviews)
4.3 (59 reviews)
Published: 2023 ID: SMRC22829

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $1.26 BN

Projected Year Value (2028)

US $1.75 BN

CAGR (2022 - 2028)

5.6%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Lighting Transformer Market is accounted for $1.26 billion in 2022 and is expected to reach $1.75 billion by 2028 growing at a CAGR of 5.6% during the forecast period. A lighting transformer is a piece of electrical equipment used to power lighting fixtures by converting the voltage of an electrical circuit to a different voltage level. By altering the voltage going through a circuit and using a transformer, a light may be made brighter or darker. They are often more compact and work at lower temperatures. The power of these transformers is capped at 300 W. The power handling capability of lighting transformers is likewise significantly lower than that of magnetic transformers.

According to a report, European Union's Energy Performance of Buildings Directive (EPBD) mandates that all new buildings must be nearly zero-energy buildings (NZEBs) by 2021.



Market Dynamics:

Driver:

Increasing demand from residential and industrial sectors

The lighting transformers are facing huge demand from residential and industrial sectors. Furthermore, an uptick in demand for electronic transformers from sectors of the economy that need devices with voltages of 33 kV and 440V-220V for home use in residential regions is anticipated to drive the market for these devices globally during the course of the forecasted year.

Restraint:

Limited technology advancements

The vast size and intricate construction of the power transformers, along with the necessary external components and accessories, represent the most sophisticated power transformer technology. The shipping, assembly, and installation processes are needlessly drawn out because to the vast size and exterior components. These elements are restricting market developments.

Opportunity:

Raising government policies

Governments all around the world are implementing programmes to encourage lighting that uses less energy. The need for energy-efficient lighting solutions is being fuelled by governments enacting policies and laws to minimise energy use and greenhouse gas emissions. These initiatives have led to increased adoption of energy-efficient lighting solutions, driving the demand for lighting transformers that can handle the unique voltage requirements of LED lighting.

Threat:

High initial costs

Despite long-term energy and cost savings from energy-efficient lighting options like LED lighting are considerable, some consumers may find the upfront expenses to be unaffordable, especially in developing countries or for those on limited financial resources. Energy-efficient lighting system’s high initial prices are a significant obstacle to their adoption in many areas.

Covid-19 Impact

The COVID-19 pandemic-related lockdown led to a temporary prohibition on production, processing, and import/export across a range of businesses, which reduced consumer demand for a range of goods. However, because to the increased demand for lighting transformers in hospitals, the pharmaceutical industry, and other applications during the pandemic, the market's growth was not significantly impacted.

The isolation segment is expected to be the largest during the forecast period

The isolation segment is estimated to have a lucrative growth, due to the growing need for safety and dependability in lighting systems. Electrical isolation between the input and output circuits is a feature of isolation transformers that helps to lower the danger of electrical shock and safeguards against voltage spikes and surges.

The electronic segment is expected to have the highest CAGR during the forecast period

The electronic segment is anticipated to witness the fastest CAGR growth during the forecast period. This is generally because electronic lighting transformers are being used more often in a variety of applications, including indoor and outdoor lighting, automobile lighting, commercial and residential lighting. Since they are more effective and provide more control over lighting output, electronic transformers are chosen over the other types of transformers.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. The Asia Pacific region is one of the largest markets for lighting transformers sizable portion of the industry. Due to its fast urbanisation, rising demand for energy-efficient lighting systems, and supporting government efforts, the area is anticipated to maintain its market dominance throughout the projection period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to increasing investments and supportive government policies. The expansion of lighting transformer markets is anticipated to be fuelled by consumer demand for energy-efficient lighting systems, rising LED usage and improvements in smart lighting technologies in the region.



Key players in the market

Some of the key players profiled in the Lighting Transformer Market include ABB Ltd, Siemens AG, Eaton Corporation Plc, Schneider Electric SE, Legrand S.A., General Electric Company, WAGO Kontakttechnik GmbH & Co. KG, Philips Lighting Holding B.V., Acme Electric Corporation, OSRAM Licht AG, SolaHD, Hubbell Incorporated, Lutron Electronics Co. Inc., SNC Manufacturing Co. Inc., Bemag Transformer Inc., Marcus Transformers, Hammond Power Solutions Inc., Tamura Corporation, Trans Power Tech and Noratel AS.

Key Developments:

In March 2023, Siemens Smart Infrastructure has launched Connect Box, an open and easy-to-use IoT solution designed to manage small to medium-sized buildings. Connect Box is a user-friendly approach for monitoring building performance, with the potential to optimize energy efficiency by up to 30 percent and to substantially improve indoor air quality.

In February 2023, ABB announced to launch an array of products and solutions at ELECRAMA 2023. ABB Cylon building products and solutions can satisfy the facility’s requirements by using open protocols, utilising universal and secure internet standards, and incorporating cutting-edge technologies.

In February 2023, Schneider Electric, the leader in the digital transformation of energy management and automation, launched its new Industrial Digital Transformation Services. The specialized global service is designed to help industrial enterprises achieve future-ready, innovative, sustainable, and effective end-to-end digital transformation.

Types Covered:
• Isolation
• Magnetic
• Electronic

Power Ratings Covered:
• Small
• Medium
• Large

Applications Covered:
• Residential & Commercial
• Utility
• Industrial

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Lighting Transformer Market, By Type
5.1 Introduction
5.2 Isolation
5.3 Magnetic
5.4 Electronic

6 Global Lighting Transformer Market, By Power Rating
6.1 Introduction
6.2 Small
6.3 Medium
6.4 Large

7 Global Lighting Transformer Market, By Application
7.1 Introduction
7.2 Residential & Commercial
7.3 Utility
7.4 Industrial

8 Global Lighting Transformer Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 ABB Ltd
10.2 Siemens AG
10.3 Eaton Corporation Plc
10.4 Schneider Electric SE
10.5 Legrand S.A.
10.6 General Electric Company
10.7 WAGO Kontakttechnik GmbH & Co. KG
10.8 Philips Lighting Holding B.V.
10.9 Acme Electric Corporation
10.10 OSRAM Licht AG
10.11 SolaHD
10.12 Hubbell Incorporated
10.13 Lutron Electronics Co. Inc.
10.14 SNC Manufacturing Co. Inc.
10.15 Bemag Transformer Inc.
10.16 Marcus Transformers
10.17 Hammond Power Solutions Inc.
10.18 Tamura Corporation
10.19 Trans Power Tech
10.20 Noratel AS

List of Tables
1 Global Lighting Transformer Market Outlook, By Region (2020-2028) ($MN)
2 Global Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
3 Global Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
4 Global Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
5 Global Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
6 Global Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
7 Global Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
8 Global Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
9 Global Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
10 Global Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
11 Global Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
12 Global Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
13 Global Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
14 North America Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
15 North America Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
16 North America Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
17 North America Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
18 North America Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
19 North America Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
20 North America Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
21 North America Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
22 North America Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
23 North America Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
24 North America Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
25 North America Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
26 North America Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
27 Europe Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
28 Europe Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
29 Europe Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
30 Europe Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
31 Europe Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
32 Europe Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
33 Europe Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
34 Europe Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
35 Europe Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
36 Europe Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
37 Europe Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
38 Europe Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
39 Europe Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
40 Asia Pacific Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
41 Asia Pacific Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
42 Asia Pacific Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
43 Asia Pacific Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
44 Asia Pacific Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
45 Asia Pacific Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
46 Asia Pacific Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
47 Asia Pacific Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
48 Asia Pacific Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
49 Asia Pacific Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
50 Asia Pacific Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
51 Asia Pacific Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
52 Asia Pacific Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
53 South America Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
54 South America Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
55 South America Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
56 South America Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
57 South America Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
58 South America Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
59 South America Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
60 South America Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
61 South America Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
62 South America Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
63 South America Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
64 South America Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
65 South America Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN)
66 Middle East & Africa Lighting Transformer Market Outlook, By Country (2020-2028) ($MN)
67 Middle East & Africa Lighting Transformer Market Outlook, By Type (2020-2028) ($MN)
68 Middle East & Africa Lighting Transformer Market Outlook, By Isolation (2020-2028) ($MN)
69 Middle East & Africa Lighting Transformer Market Outlook, By Magnetic (2020-2028) ($MN)
70 Middle East & Africa Lighting Transformer Market Outlook, By Electronic (2020-2028) ($MN)
71 Middle East & Africa Lighting Transformer Market Outlook, By Power Rating (2020-2028) ($MN)
72 Middle East & Africa Lighting Transformer Market Outlook, By Small (2020-2028) ($MN)
73 Middle East & Africa Lighting Transformer Market Outlook, By Medium (2020-2028) ($MN)
74 Middle East & Africa Lighting Transformer Market Outlook, By Large (2020-2028) ($MN)
75 Middle East & Africa Lighting Transformer Market Outlook, By Application (2020-2028) ($MN)
76 Middle East & Africa Lighting Transformer Market Outlook, By Residential & Commercial (2020-2028) ($MN)
77 Middle East & Africa Lighting Transformer Market Outlook, By Utility (2020-2028) ($MN)
78 Middle East & Africa Lighting Transformer Market Outlook, By Industrial (2020-2028) ($MN

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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