Light Pipe Market Is Valued US$ 0.95 Bn in 2019 | CAGR Of 2.9% By 2026
Global Light Pipe Market: Introduction
Light pipe also known as light tubes, transmit natural or artificial light from outdoors to indoor in order to illuminate the room. They are used to provide daylight to residential buildings and commercial complexes.
The global light pipe market is estimated to value at approximately US$ 0.95 Bn in 2019, and is expected to register a CAGR of 2.9%. The first five-year cumulative revenue (2019–2023) is projected to be US$ 5.0 Bn, which is expected to increase moderately over the latter part of the five-year forecast period.
Global Light Pipe Market: Market Dynamics
Growing construction industry in developing as well as developed countries, owing to growing population and requirement of developed infrastructure is a major factor driving growth of the global light pipe market. Use of day light reduces energy consumption and reduces greenhouse gasses, and is expected to support growth of the target market to a significant extent.
Increasing government initiatives and schemes that support construction of green buildings is another factor fueling growth of the global light pipe market. In addition, government is also encouraging use of daylight and reduce carbon emissions is another factor expected to boost growth of the target market over the forecast period.
Light pipes helps to save energy and reduce spending on HAVC systems as it is less costly. Increasing use of light pipes in commercial storages, facilities, offices, shopping malls is another factor propelling growth of the target market.
Introduction of cost effective light pipe systems and spreading awareness regarding its advantages can create revenue opportunities for the key players in the target market.
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Global Light Pipe Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global light pipe market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global light pipe market is expected to expand at a moderate CAGR of 2.9% during the forecast period.
Global Light Pipe Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region/country. The type segment includes rigid tube and flexible tube. By application segment includes residential and commercial. The regions/countries covered in the analysis are North America, China, Europe, Southeast Asia, Japan, and India.
By Type: The rigid tube segment accounted for highest revenue share contribution in 2018, and is expected to register highest CAGR of 3% over the forecast period
By Application: The commercial segment accounted for major share in terms of revenue in the global market in 2018. The residential segment is expected to register highest CAGR of over 2.9% over forecast period
By Region/Country: The market in Europe is expected to register highest CAGR of over 2.8% over the forecast period
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Global Light pipe Market: Competitive Analysis
The research report on the global light pipe market includes profiles of some of major companies such as Solatube International, Inc., Gibraltar Industries, Inc., Elite Solar Systems, Inc., VKR Holding A/S (VELUX Group), DayLite Natural Lighting Technologies, Inc., HUVCO, L.L.C., Natural Light Energy System, Skydome Skylight Systems Pty. Ltd., Orion Energy Systems Inc., and Daylighting Technologies, Inc.
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