About PAR Light
The global PAR (parabolic aluminized reflector) lights market is expected to grow during the forecasted period due to the increasing demand in commercial, residential and transportation applications and growing urbanization. The PAR is also photosynthetic active radiation and this light within the visible range of 400 to 700 nanometers (nm) driving photosynthesis. The future of the PAR Light market is expected to be characterized by moderate growth, driven by increasing demand from end-use industries, sustainability initiatives, and technological advancements. However, stringent regulations and competition from alternative pigments could pose challenges to the market's growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global PAR Light market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Leviton Manufacturing Co., Inc. (United States), PR Lighting Ltd (China), Proel Group (Italy), Teclumen Srl (Italy), LumiGrow (United States), Altman Lighting Co. (United States), Coemar Lighting Srl (Italy) and A&O Lighting Technology (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Winson Lighting Technology Limited (United States), OSRAM Licht AG (Germany), Innoquest, Inc. (United States) and Evolight (Poland).
Segmentation Overview
AMA Research has segmented the market of Global PAR Light market by Type (LED PAR Light and Halogen PAR Light), Application (Concert, Events, Theatre, Aircrafts and Residential) and Region.
On the basis of geography, the market of PAR Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarket will boost the PAR Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mount, the sub-segment i.e. Track will boost the PAR Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Introduction of PAR Lights in Various Colour and Style, The Emerging Automation in Lighting Technology and Increasing Use PAR Light in Photosynthesis Process
Market Growth Drivers:
The Increasing Demand Advanced Level Lighting in Functions and Events and Growing Urbanisation and Standard of Living of People Around the World
Challenges:
Problems with Maintenance and Installation of PAR Light
Restraints:
Adverse Environment Impact of PAR Light and Safety Related Risk Associated with PAR Light
Opportunities:
Growing Electronics Industry will Boost the PAR Light Market and Technological Advancements in PAR Lighting Market
Market Leaders and their expansionary development strategies
In June 2023, Nokia announced it has signed a new patent cross-license agreement with Apple which will replace the current license. The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report
In October 2023, Apro Lightings launched the Morgan LED Par Light. The product has a total input power of 200 watts. It provides stage lighting with spectacular brightness and vibrant colours with a combination of 18pcs x 10W (4-IN-1) RGBW / 54pcsx3W (Warm White) LED light and IP65.
Key Target Audience
PAR Light Manufacturers, PAR Light International Traders, PAR Light Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.