Projector Lamps Market

Projector Lamps Market Outlook

The projector lamps market analysis, which shows that global demand is expected to enjoy year-on-year (YoY) growth of 5.5%. The projector lamps market size in 2021 will total a valuation of around US$ 2 Bn. LED projector lamps housing is likely to portray a positive growth rate of little over 6.5% and metal halide lamps are expected to witness a YoY growth of 5.2% by the end of fiscal year 2021.

Key Points Covered in Projector Lamps Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on Demand for Projector Lamps and How to Navigate
• Recommendation on Key Winning Strategies

Revenue Analysis of Projector Lamps from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031

Over the past half-decade (2016-2020), the projector lamps industry has displayed a low growth rate of 0.4% CAGR. COVID-19 massively disrupted the supply chain of projector lamps as the education sector and entertainment industry were muted.

However, presumed expansion in the construction industry and rising infrastructural development across the globe will supplement the growth curve over the evaluation period. Global projector lamp demand is expected to cultivate by more than 8% CAGR and surpass a market valuation of 4.5 Bn by the end of 2031.

Innovation in technology of light source for projectors including HID (high intensity discharge) LEDs, lasers, and hybrid will lead to amplified colour projection quality and longer lifespan. Increase in lifespan of projector lamps will significantly supress the maintenance cost of projectors.

Top projector lamps companies are working to create and innovate technologies that reduces the operational and installation cost while using a projector lamp. Market leaders have invested in addressing market demands by creating laser or hybrid technologies that split single wavelength into different color reducing the heating effect which in turn protect the environment.

• In terms of value, North America has driven demand for projector lamps for cinema purposes during the historical period and accounted for over 26% of value share in 2021.
• Europe is projected to account for over 18% of the market share but lose 30 BPS over the forecast period.
• South Asia & Oceania has captured a share of nearly 14% globally in 2020.
• Metal halide projector lamps are expected to progress at a CAGR of nearly 8% over the forecast period and be valued at US$ 3 Bn by the end of 2031.
• The DLP (digital light processing projectors) segment is estimated to account for 28% market share and gain 34 BPS by 2031 over 2021.
• The below 3,500 lumen counts segment is projected to grow 2.3X over the forecast period, while the 3600-6500 segment is projected to grow 2.1X.
• On the basis of lumen counts, the global projector lamps market is projected to be dominated by below 5,000 hours, accounting for over 59% of the value market share by 2031.
• On the basis of commercial end users, academic & research institutions are projected to capture demand of projector lamps for education purposes by accounting for over 30% of projector lamps market growth.
• The OEMs segment is expected to expand at a CAGR of 8.3% over the forecast period and be valued at US$ 3.5 Bn by 2031-end.

What are the Technological Advancements in Projector Lamps and How Will They Benefit Consumers?

Advancements in electronics and eco-friendly products have shown an opportunistic forefront for top manufacturers of static projector lamps. This has helped manufacturers diversify their product portfolio with hybrid lamps that can reduce the overall cost of the product. Enhancement in technology from LCDs to DLPs has increased the overall market value.

Projector lamps have seen gradual advancements in light source technology, primary objective of each development in projector lamps is to enhance the experience of customers. Recently, few years back a new technology has been introduced called laser light source (light amplification by stimulated emission of radiation), this technology is been offered by numerous manufacturers of projector lamps.

Gradually growing technological advancements in projector lamps re likely to increase demand in the near future. Prominent manufacturers offering projector lamps are intensively deploying their resources towards research & development of new products.

What are the Prominent Headwinds of the Projector Lamps Industry?

Geopolitical instability in two of the prominent economies - the United States and China - may cause economic panic in both countries and lead to trade flow diversions to other dominating countries. As most top manufacturers of projector lamps in China, Japan, Taiwan, and South Korea have established bases, due to this trade war, demand from the United States is likely to be significantly affected.

Due to geopolitical instability, investments made by manufacturers could be volatile over a period of time. Whereas, the investment scenario in other developing economies such as India seems to be lucrative, owing to government initiatives such as abolishment of retrospective taxes. However, global demand may witness a hindrance due to surging tariffs from both countries.

Continuous price revision has been observed in freight transportation as well as in raw materials. Increasing freight shipment cost is a combined effect of various factors including few dockworkers, less freight ships, saturation at ports, increasing fuel prices. Whereas, prices of raw materials such as aluminum, nickel, copper, reinforced plastic & semiconductors are on the rise and growing every year gradually. Labor cost is also a major concern for manufacturers, and every year companies tend to pay more.

These factors are severe and can’t be rectified over a short period of time, hence, creating a ripple effect across the supply chain that has left a crucial impact on the sales of projector lamps.

What is the Geographical Outlook of the Projector Lamps Industry?

The global market is anticipated to see a healthy growth rate over the forecast period owing to rising technological advancements and increased government spending on environmental concerns. The market is highly fragmented due to the presence of numerous manufacturers.

The market is poised to rise at a CAGR of 8.2% during the forecast period. The evolution of LED lamps from metal halide lamps has boosted demand for projector lamps worldwide.

In the market for projector lamps, North America holds a majority share of global revenue accounting for more than 26%. The North America market is predicted to swell at a growth rate of more than 8% CAGR. The U.S. projector lamps market is analyzed as the most dominating country in this region owing to an established end-use sector.

East Asia is scrutinized to be one of the most prominent and dominant in terms of demand as well as manufacturing capabilities. It is been observed that most tier-1 manufacturers, including Canon, Casio, Epson, Hitachi, Fujitsu, Toshiba, Sharp NEC, Sony Corporation, and many more are concentrated across East Asia, particularly in Japan and South Korea.

The market in East Asia is expected to surpass a market of US$ 1 Bn and gain more than 200 BPS points by the end of 2031.

The market in South Asia & Oceania is expected to expand at a CAGR of 7.6% accounting for more than 13% of global revenue share, including countries such as China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia. Initiatives towards strengthening infrastructure and growing industrialization will aid the market growth trajectory.

Country-wise Analysis

Why is Japan an Important Market for Projector Lamps?

Japan is the most promising country across the globe in terms of manufacturing capabilities for projector lamps. Most tier-1 manufacturers are established in Japan, which tends to make it a hotspot for manufacturers. Due to technological advancements and skilled workforce, the country has showcased exponential growth on a YOY basis over the past few decades.

In terms of demand, Japan accounts for roughly 6% market share in East Asia and is expected to progress at a CAGR of 7.2% over the forecast period.

What Makes the U.S. Hold a Majority Share in the Global Market?

The U.S. is one of the most developed countries across the globe with the highest GDP. The U.S. is the most mature economy and possesses established end-use verticals such as the education sector, entertainment industry, corporate sector, and many more.

Wide spectrum of end users wherein there is high demand for projector lamps in homes coupled with high per capita income are prime reasons fueling the market growth curve.

The U.S. accounts for more than 90% revenue share in the North America market and will remain in the same growth trajectory, expanding at a CAGR of around 8% across the forecast period.

Category-wise Insights

Which LED Projector Light is Set to Witness High a Growth Rate?

LED projector lights are steadily gaining momentum and expected to corner more than 12% of global revenue market share by 2031. Longer lifespan, increased lumens count, and erosion of rainbow effect are primary causes behind high penetration of LED projector lamps. The ownership cost of LED lamps is comparatively lower due to less frequency of lamp replacement.

Reduced lamp frequency rate leads to lessens maintenance cost and delivers a hassle-free applicability to customers. 

Why Do Metal Halide Bulbs Have Demand Even after Inception of Modern Technologies?

After so many drawbacks in comparison to emerging light source technologies such as LEDs and lasers, metal halide still enjoy demand owing to numerous factors. Metal halide lamps are much cheaper than other emerging technologies and the construction assembly is not much complex. Customers having usage of couple hours in a week still opt for metal halide lamps due to budget constraints.

Although, HID lamps are the most advanced technology for projector lamps for education purposes, which is expected to expand at a CAGR of more than 7.5% during 2021-2031.

Competitive Landscape

Most market players that have been considered in the report are primarily leaned towards technological advancements and strengthening their sales and distribution networks.

Some of the key developments are:-

• In May 2021, Ushio lnc. decided to make a capital investment to increase the production capacity. The company has planned to invest 1.5 billion yen for production expansion.
• In April 2021, InFocus Corporation and Alpha Technologies signed an agreement to support InFocus’s marketing strategy, intensify sales and support the entire portfolio of projectors and associated accessories.
• In April 2021, the Ushio lnc. disclosed that the sales of new “Unicure System (lamp type)” would be discontinued by the end of September 2021 due to the difficulty in production continuation due to the changes in the business environment of this product around the world.

Similar key developments will be provided in full detailed report.

Projector Lamps Market Report Scope

Attribute	Details
Market size value in 2021	USD 2 Billion
Market forecast value in 2031	USD 4.5 Billion
Growth Rate	CAGR of 8% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	Units for Value US$ Mn and Value ‘000 Units
Key Regions Covered	North America Latin America Europe East Asia South Asia & Oceania MEA
Key Countries Covered	United States Canada Brazil Mexico Germany U.K. France Spain Italy China Japan South Korea India Indonesia Malaysia Singapore Australia New Zealand Turkey South Africa GCC Countries
Key Market Segments Covered	Lamp Type Projector Type Lumen Counts Rated Lifetime End User Sales Channel Region
Key Companies Profiled	Philips (Signify) Ushio Osram Canon Epson Infocus
Other Companies Profiled	3D Perception 3M BenQ America Corp BOXLIGHT Christie Digital Systems USA Inc. HP Inc. Dell Dukane Eiki Eizo Hitachi JVC LG Mitsubishi Sharp NEC Panasonic Corporation  Samsung Corporation  Sanyo Sony Corporation Toshiba ViewSonic Yokogawa Corporation Acer Inc  Casio Fujitsu
Pricing	Available upon Request

Main Segments Covered in Projector Lamps Industry Analysis

• By Lamp Type

  • Metal Halide Lamps
    • High-Intensity Discharge Lamps
    • Ultra-High-Performance Lamps
  • LED Lamps  
  • Lasers
  • Hybrid

• By Projector Type

  • LC – Liquid Crystal Display Projectors
  • DLP – Digital Light Processing Projectors
  • LCoS – Liquid Crystal on Silicon Projectors
  • Others

• By Lumen Count

  • Below 3500 Lumens
  • 3600-6500 Lumens
  • 6500-9000 Lumens
  • Above 9000 Lumens

• By Rated Lifetime

  • Below 5,000 hours
  • 5,000-20,000 hours
  • 20,000-30,000 hours
  • Above 30,000 hours

• By End User

  • Residential
  • Commercial Projector Lamps for Business Application
    • Corporate Offices
    • Stage & Theatre and Projector Lamps for Cinema Halls
    • Game Zones
    • Academic & Research Institutions
    • Exhibition Centres
    • Others

• By Sales Channel

  • OEMs
  • Aftermarket
    • Online Sales
      • Third Party Online
      • Direct to Customer
    • Modern Trade
    • Specialty Stores
    • Others