Troffer Market - Forecast(2023 - 2028)

Report Code: CMR 99373 Report Format: PDF + Excel

Overview

Troffer Market is forecast to reach $9.47 billion by 2025, after growing at a CAGR of 6.20% during 2020-2025. The global demand for troffers is rising due to the rise in the adoption of troffers by lighting designers, architects, specifiers and engineers for new construction. Troffer lighting is now mainly being used in LED which is a major growth factor for the troffer industry during the forecast period.

Report Coverage

The report: “Troffer Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Troffer Market.


Key Takeaways

  • LEDs are highly efficient, reliable, and they yield longer life span, which is anticipated to boost their application in both indoor and outdoor settings.
  • According to the U.S. Department of Energy (USDA), the majority of troffer retrofit kits has an initial lumen output between 3,500 and 5,400 lumens. This is comparable to the lumen output range of louvered troffers with two or three standard-output T8 fluorescent lamps operating on a normal ballast factor ballast.
  • Governments are offering incentives and rebates on replacement of traditional lamps with LED troffer products, this enables to improve the adoption of LED products worldwide.
  • In European countries, the price of LED lamps is anticipated to compete with compact florescent lamps by 2018, which shall further speed up the shift from CFLs to light-emitting diodes.

By Type - Segment Analysis

The polymer type segment held a significant share in the troffer market in 2019. Glass and transparent plastics, especially acrylic resins, have long been used in the lighting industry for various aesthetic and functional purposes in optics design. Luminous LED troffers are made with a lightweight, shatter-resistant ABS plastic frame molded with fire retardant material with an anti-UV coating to prevent yellowing. This lightweight frame makes the fixture lighter, easier to install, less expensive to ship, and less likely to get damaged. Troffers made from polymer types like ABS makes them lightweight and durable.

By End-User - Segment Analysis

The commercial segment held a significant share in the troffer market in 2019. The 1x4 parabolic troffer fixture provides low glare, light cut-off, and visual comfort for all commercial buildings requiring general illumination in a recessed ceiling configuration. According to U.S. Department of Energy, a vast majority of lighting in U.S. commercial buildings is provided by fluorescent troffer ceiling fixtures. More than 360 million troffers provide general lighting in commercial buildings, according to the U.S. Department of Energy (DOE). Lighting troffers are recessed ceiling fixtures that commonly use lower efficiency fluorescent technology. With the use of troffer lights in commercial purposes like hospitals, schools, airport lounges, indoor spaces, and others, the energy consumption will be less and overall lighting performance increases.

Geography - Segment Analysis

Asia-Pacific dominated the troffer market with a share of more than 41.5% during the forecast period. The high demand is mainly attributed by the modernization of hospitals in developed regions like China and Japan. China has implemented energy-saving certification for ensuring saving quality of LED lighting products since 2011. China is the biggest producer, consumer and exporter of efficient lighting products in the world, whereas Japan is in the front ranks of the world in the LED chip technology, which leads to the development of the global LED lighting industry which in turn expands the market for troffers during the forecast period.

Drivers – Troffer Market

·         The rise in acceptability of LED troffers for outdoor lighting solutions

LED lighting can really move the needle in reducing the consumption of electricity for buildings as well as outdoor lighting solutions. A typical 2x4 fluorescent troffer light can utilize up to 160 watts per fixture. The same fixture utilizing LED technology instead, utilizes between 30 and 50 watts per fixture. This results in 50% to 80% reduction in cost savings just by making the switch to LED. The way LEDs generate light and progress through their functional life results in a much longer operating life compared to conventional fluorescent troffer lights. LED troffer lifetimes range from 50,000 to 150,000 hours and can have up to a 10 year manufacturer warranty.

Challenges – Troffer Market

·         Ballast Compatibility

One potential disadvantage of replacing fluorescent lamps with LED lamps instead of replacing the luminaire is ballast compatibility. Compatibility issues may arise between the new lamp and the current ballast, even between lamps and ballasts from the same manufacturer. Performance depends on the existing fixture/ballast. Lack of innovation within the troffer designs and variety may hamper the growth of troffer market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the troffer market. In 2019, the market of troffer has been consolidated by the top five players accounting for xx% of the share. Top 10 companies of troffer market are General Electric, Acuity Brands Lighting, Eaton Corporation, Koninklijke Philips, Zumtobel Group and Herbert Waldmann GmbH among others.

Acquisition/ Product Launch

Ø  In September 2019, Acuity Brands, Inc acquired The Luminaires Group (TLG), provider of specification-grade luminaires for commercial, institutional, hospitality and municipal markets. Luminaire LED offers indoor and outdoor vandal-resistant lighting.

Ø  In February 2016, Toyoda Gosei Co. developed a new LED package for lighting that produces up to 200 lumens per watt (lm/W), while maintaining color fidelity. This new product gives clients cost-effective alternatives to a fluorescent ballast and lower CRI (Color rendering index) LED products and can help reduce overall energy consumption.

1. Troffer Market - Overview
        1.1 Definitions and Scope
2. Troffer Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Troffer Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Troffer Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Troffer Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Troffer Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Troffer Market - Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Troffer Market - By Type (Market Size -$Million / $Billion)
        8.1 Metal Type
        8.2 Polymer Type
        8.3 Other
9. Troffer Market - By End User (Market Size -$Million / $Billion)
        9.1 Commercial
        9.2 Residential
        9.3 Industrial
10. Troffer - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Troffer- By Geography (Market Size -$Million / $Billion)
        11.1 Troffer Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Troffer- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Troffer- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Troffer - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong Kong
                  11.8.5.9 Rest of APAC
        11.9 Troffer - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Troffer Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Troffer Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at a global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Troffer Market - Key Company List by Country Premium
15. Troffer Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Acuity Brand Lighting
        15.3 Cree Incorporation
        15.4 Eaton Corporation
        15.5 General Electric
        15.6 Herbert Waldmann Gmbh
        15.7 Koninklijke Philip
        15.8 Ledtronics
        15.9 Osram Licht Ag
        15.10 Toyoda Gosei Co, Ltd
        15.11 Zumtobel Group
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Troffer Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Troffer Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Troffers Market, By Type Market 2019-2024 ($M)
1.1 Metal Type Market 2019-2024 ($M) - Global Industry Research
1.2 Polymer Type Market 2019-2024 ($M) - Global Industry Research
2.Global Troffers Market, By End User Market 2019-2024 ($M)
2.1 Commercial Market 2019-2024 ($M) - Global Industry Research
2.2 Residential Market 2019-2024 ($M) - Global Industry Research
2.3 Industrial Market 2019-2024 ($M) - Global Industry Research
3.Global Troffers Market, By Type Market 2019-2024 (Volume/Units)
3.1 Metal Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Polymer Type Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Troffers Market, By End User Market 2019-2024 (Volume/Units)
4.1 Commercial Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Residential Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Troffers Market, By Type Market 2019-2024 ($M)
5.1 Metal Type Market 2019-2024 ($M) - Regional Industry Research
5.2 Polymer Type Market 2019-2024 ($M) - Regional Industry Research
6.North America Troffers Market, By End User Market 2019-2024 ($M)
6.1 Commercial Market 2019-2024 ($M) - Regional Industry Research
6.2 Residential Market 2019-2024 ($M) - Regional Industry Research
6.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
7.South America Troffers Market, By Type Market 2019-2024 ($M)
7.1 Metal Type Market 2019-2024 ($M) - Regional Industry Research
7.2 Polymer Type Market 2019-2024 ($M) - Regional Industry Research
8.South America Troffers Market, By End User Market 2019-2024 ($M)
8.1 Commercial Market 2019-2024 ($M) - Regional Industry Research
8.2 Residential Market 2019-2024 ($M) - Regional Industry Research
8.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
9.Europe Troffers Market, By Type Market 2019-2024 ($M)
9.1 Metal Type Market 2019-2024 ($M) - Regional Industry Research
9.2 Polymer Type Market 2019-2024 ($M) - Regional Industry Research
10.Europe Troffers Market, By End User Market 2019-2024 ($M)
10.1 Commercial Market 2019-2024 ($M) - Regional Industry Research
10.2 Residential Market 2019-2024 ($M) - Regional Industry Research
10.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
11.APAC Troffers Market, By Type Market 2019-2024 ($M)
11.1 Metal Type Market 2019-2024 ($M) - Regional Industry Research
11.2 Polymer Type Market 2019-2024 ($M) - Regional Industry Research
12.APAC Troffers Market, By End User Market 2019-2024 ($M)
12.1 Commercial Market 2019-2024 ($M) - Regional Industry Research
12.2 Residential Market 2019-2024 ($M) - Regional Industry Research
12.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
13.MENA Troffers Market, By Type Market 2019-2024 ($M)
13.1 Metal Type Market 2019-2024 ($M) - Regional Industry Research
13.2 Polymer Type Market 2019-2024 ($M) - Regional Industry Research
14.MENA Troffers Market, By End User Market 2019-2024 ($M)
14.1 Commercial Market 2019-2024 ($M) - Regional Industry Research
14.2 Residential Market 2019-2024 ($M) - Regional Industry Research
14.3 Industrial Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Troffer Market Revenue, 2019-2024 ($M)
2.Canada Troffer Market Revenue, 2019-2024 ($M)
3.Mexico Troffer Market Revenue, 2019-2024 ($M)
4.Brazil Troffer Market Revenue, 2019-2024 ($M)
5.Argentina Troffer Market Revenue, 2019-2024 ($M)
6.Peru Troffer Market Revenue, 2019-2024 ($M)
7.Colombia Troffer Market Revenue, 2019-2024 ($M)
8.Chile Troffer Market Revenue, 2019-2024 ($M)
9.Rest of South America Troffer Market Revenue, 2019-2024 ($M)
10.UK Troffer Market Revenue, 2019-2024 ($M)
11.Germany Troffer Market Revenue, 2019-2024 ($M)
12.France Troffer Market Revenue, 2019-2024 ($M)
13.Italy Troffer Market Revenue, 2019-2024 ($M)
14.Spain Troffer Market Revenue, 2019-2024 ($M)
15.Rest of Europe Troffer Market Revenue, 2019-2024 ($M)
16.China Troffer Market Revenue, 2019-2024 ($M)
17.India Troffer Market Revenue, 2019-2024 ($M)
18.Japan Troffer Market Revenue, 2019-2024 ($M)
19.South Korea Troffer Market Revenue, 2019-2024 ($M)
20.South Africa Troffer Market Revenue, 2019-2024 ($M)
21.North America Troffer By Application
22.South America Troffer By Application
23.Europe Troffer By Application
24.APAC Troffer By Application
25.MENA Troffer By Application
26.General Electric, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Acuity Brand Lighting, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Eaton Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Koninklijke Philip, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Zumtobel Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Herbert Waldmann Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Osram Licht Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Toyoda Gosei Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Cree Incorporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Ledtronics, Sales /Revenue, 2015-2018 ($Mn/$Bn)