Light Pipe Market Statistics Present 2.9 % CAGR Prospects Between 2019 to 2028

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.

Light pipes, also known as tubular skylights, are used for distribution of artificial or natural light in order to illuminate spaces. Without generating excessive heat, light pipe transmits light from outdoors to indoor. Light pipes are used in commercial and residential buildings and complexes as they help lower the energy consumption and reduce cost of electricity.

Growing construction industry in developed as well as developing economies is a major factor driving growth of the global light pipe market. Light pipes are used in industrial buildings, shops, offices, storages, etc. Increasing preference for use of natural light in order to reduce energy consumption is another factor expected to support growth of the target market. In addition, government investments and schemes for construction of green buildings, coupled with urbanization and growing population are factors fueling growth of the global market.

Growing initiatives to encourage energy efficient projects is another factor supporting growth of the target market. Government agencies are encouraging use of day light for less energy consumption and reduce greenhouse gases emission. Government in various counties have taken initiatives to build self-sufficient and green building in the coming years, which is another factor propelling growth of the global market.

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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: 

Currently, among the type segments, the rigid tube segment accounts for major market share in terms of revenue, and is expected to maintain its dominance in the next 10 years. The rigid tube segment is expected to register highest CAGR over 3% over the forecast period. Increasing use of rigid tube light pipes in sports and commercial complexes is a factor supporting growth of the rigid tube segment in the global market.

By Application: 

The residential segment is projected to register a comparatively higher growth rate over the forecast period, owing to growing adoption of light pipes in residential buildings in order to decrease energy consumption.

By Region/Country: 

Currently, the market in North America dominates in the global market in terms of revenue, and is expected to maintain its dominance over the forecast period. The market in Europe accounts for second-highest share in terms of revenue in the global market. Stringent government regulations and growing focus on reduction of carbon emission are major factors expected to drive growth of the light pipe market in Europe. In addition, increasing construction activities and selling light pipes using ecommerce to attract consumers is a factor expected to support growth of the Europe market.

Market in China is expected to register moderate growth rate in terms of revenue over the forecast period. Increasing investments in construction of energy efficient building by major manufacturers in this country and growing adoption of light pipes in order to reduce electricity cost is expected to support growth of the market in China.

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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.