The Electricity Increased From Around 2.6 Petawatt Hours in 2005 to 2.9 PWh in 2010

The electricity consumed by the global lighting sector had increased from around 2.6 petawatt hours (PWh) in 2005 to 2.9 PWh in 2010. Lighting appliances consume approximately 19% of the total electricity generated. North America consumes the largest amount of electricity for lighting in the world. The region consumes 864 terawatt hours (TWh) of power for lighting in a year. Europe follows North America as the second largest consumer of power for lighting. Major countries such as the US, Canada and the UK have adopted energy efficient lighting products such as Compact Fluorescent Lamps (CFL) as a solution to reduce electricity consumption for lighting The global market for CFLs is increasing with the adoption of energy efficient lighting by many countries in the world. The global CFL unit sales had increased from 1.59 billion to 2.5 billion in 2010 at a CAGR of 12%. According to GlobalData, the phase-out of inefficient lamps is the major contributor for the increase in unit sales for CFLs during the historical period of 2006-2010. It is expected that the phase-out will continue until 2014, driving the CFL market. The unit sales of CFLs are expected to dip marginally during 2015-2017 and the sales will consolidate during 2018-2020 mainly due to the longer life span of replaced lamps. By 2020, sales will increase to 4.2 billion lamps per year with more than 85% of sales in the lamp replacement market. The replacement market signifies further CFL sales and can be defined as a CFL replacing a burned out or end-of-life CFL. In 2010, the replacement market consisted of around 40% of total CFL sales. The market is expected to increase its contribution in the total CFL sales during the forecast period. With the phase-out period of inefficient lamps ending around 2014 in most countries, the replacement of burnedout lamps will be the major contributing factor for the CFL market. Against this backdrop, the share of the replacement market is expected to increase to 54% by 2015 and 85% by 2020. The global CFL market size had increased from $6.82 billion in 2006 to around $9.44 billion in 2010 at a CAGR of 8.4%. Favorable legislation supporting CFL market development, rising energy demand and environmental concerns such as global warming are some of the major drivers of the market. Some of the major challenges inhibiting market growth are the lack of uniform standards, lack of awareness among consumers, hazards in waste disposal and expensive products in comparison with incandescent bulbs. Source: sbwire.com