Global Xenon Light Source Market: Xenon light also known as high intensity discharge light and is produced by passing electricity through ionised xenon gas at high pressure. Xenon light bulb are replacement for halogen light bulb as xenon produces more light and emits less heat than halogen light.
The global xenon light source market as valued at US$ X.X million in 2016, and is expected to reach US$ X.X million at a CAGR of XX.X% over the forecast period.
Better durability bright light is key factors driving growth of the global xenon light source market. In addition, having properties such as low heat emitter, brighter light, and operating on direct current (DC) xenon light is being adopted in universities and laboratories for research and study purpose, coupled with less electricity consuming and long life are some other major factor expected to fuel growth of the global xenon light source market.
However, high production cost is a key factor restraining growth of the global xenon light source market. Additionally, high maintenance cost, no proper cooling of electrode, and optics in lamp may blind the overcoming drivers on road are other major factor hampering growth of the global xenon light source market.
By overcoming the challenges with technical advancement new opportunities are generated for major market players for growth of the global xenon light source market over the forecast period.
The global xenon light source market report has been segmented on the basis of type, end user, and region. On the basis of region, the global xenon light source market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is a dominant player in the global xenon light source market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed application segment, presence of leading xenon light manufacturers, and rise in number of people adopting to xenon light in vehicles and laboratories. Europe accounts for the second largest revenue share contribution to the global xenon light source market followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of people using xenon light source in automotive, research labs, and in cinema house.
Major market players of the global xenon light source market include General electric lighting, Philips N.V, Hella gmbh & co. Kgaa, Osram gmbh, Stanley Electric Co., ltd.