Regional Analysis

Global HID Ballast Market: Regional Insights

On the basis of geography, the global HID ballast market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share of the HID ballast market in 2017 and it is expected to witness further growth during the forecast period. This is owing to increase in investments made by governments of countries in the region to replace conventional lighting systems with energy efficient lighting systems According to a report released by the US Energy Information Administration in July 2018, the government extended a 30% tax credit for infrastructure developers who used energy efficient electrical systems in their constructions. Furthermore, Asia Pacific is expected to witness significant growth during the forecast period. This is owing to growing awareness regarding the use of HID ballast in automotive, residential, and industrial sectors to increase energy efficiency. The United Nations Economic & Social Cooperation for Asia Pacific’s Report released in 2017 stated that Asia Pacific adopted energy-efficient lighting systems in all new commercial and residential buildings. According to a white paper released by the United Nations Environmental Program (UNEP) in 2017, the Latin America market for HID ballast is also expected to showcase growth due to increasing investment to replace tunnel and streetlights with energy efficient lights. Moreover, according to a press release by the Center for Industrial Studies released in November 2016, the increasing demand for decorative lighting in Latin America is expected to aid in growth of the HID ballast market.

On the basis of region: