Circular Economy in the Global Lighting Industry

Circular Economy in the Global Lighting Industry

Decarbonization Efforts and Sustainability Goals Drive Transformational Growth Opportunities

RELEASE DATE
07-Mar-2024
REGION
Global
Deliverable Type
Market Research
Research Code: PFE4-01-00-00-00
SKU: EN_2024_613
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Description

Natural resource scarcity, the harmful environmental impacts of emissions, and discarded materials in landfills and water bodies are pressing global challenges. The lighting industry significantly contributes to eWaste and pollution, including greenhouse gases and used materials from parts. This challenge warrants adopting circular economy principles over the prevailing linear economy models in every stage of any industry’s supply chain. The circular economy is an alternative economic model that focuses on reducing waste and pollution by promoting product reuse, repair, and recycling. The circular economy is significant in the lighting industry for several reasons, as it addresses various environmental, economic, and social challenges associated with traditional linear economic models, such as resource efficiency, waste reduction, and energy conservation.

OEMs embrace circular practices to meet regulators’ decarbonization goals and make supply chains and manufacturing practices sustainable and cost-effective in the long run. By integrating circular economy principles into the lighting industry, companies can contribute to sustainability, reduce waste, and create a more environmentally friendly approach to manufacturing and consumption. This approach aligns with broader efforts to build a more sustainable and resource-efficient global economy.

This analysis provides an overview of the current circular economy practices in the lighting industry. It identifies and explores the most essential practice areas and derives meaningful conclusions about the state of circular economy adoption in the lighting industry.

Author: Viswesh Vancheeshwar

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Circular Economy in the Lighting Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Growth Drivers

Growth Restraints

United Nations Sustainable Development Goals (SDGs)

United Nations Sustainable Development Goals (SDGs) (continued)

Linear Economy

Circular Economy

Benefits of the Circular Economy

Importance of the Circular Economy for Lighting

Selected Countries with Net-Zero Targets

Lighting Circular Economy—Central Practices

Circular Economy Roadmaps of Selected OEMs

Remanufacturing and Reuse

Remanufacturing and Reuse in Lighting

Remanufacturing and Reuse—Benefits, Drivers, and Challenges

Remanufacturing and Reuse—Selected Activities

Remanufacturing and Reuse—Case Studies

Recycling

Recycling—Benefits, Drivers, and Challenges

Recycling—Importance to Lighting

Recycling—Selected Activities

Recycling—Case Studies

Product Life Extension

Product Life Extension—Benefits and Models

Product Life Extension in Lighting

Product Life Extension—Case Study

Eco-friendly Materials

Eco-friendly Materials—Importance to Lighting

Eco-friendly Materials—Selected Activities

Growth Opportunity 1: Digitalization of Lighting Systems and Services

Growth Opportunity 1: Digitalization of Lighting Systems and Services (continued)

Growth Opportunity 2: Sustainability Initiatives by Governments

Growth Opportunity 2: Sustainability Initiatives by Governments (continued)

Growth Opportunity 3: Partnerships for Effective Collaboration

Growth Opportunity 3: Partnerships for Effective Collaboration (continued)

List of Exhibits

Legal Disclaimer

Natural resource scarcity, the harmful environmental impacts of emissions, and discarded materials in landfills and water bodies are pressing global challenges. The lighting industry significantly contributes to eWaste and pollution, including greenhouse gases and used materials from parts. This challenge warrants adopting circular economy principles over the prevailing linear economy models in every stage of any industry s supply chain. The circular economy is an alternative economic model that focuses on reducing waste and pollution by promoting product reuse, repair, and recycling. The circular economy is significant in the lighting industry for several reasons, as it addresses various environmental, economic, and social challenges associated with traditional linear economic models, such as resource efficiency, waste reduction, and energy conservation. OEMs embrace circular practices to meet regulators decarbonization goals and make supply chains and manufacturing practices sustainable and cost-effective in the long run. By integrating circular economy principles into the lighting industry, companies can contribute to sustainability, reduce waste, and create a more environmentally friendly approach to manufacturing and consumption. This approach aligns with broader efforts to build a more sustainable and resource-efficient global economy. This analysis provides an overview of the current circular economy practices in the lighting industry. It identifies and explores the most essential practice areas and derives meaningful conclusions about the state of circular economy adoption in the lighting industry. Author: Viswesh Vancheeshwar
More Information
Deliverable Type Market Research
Author Viswesh Vancheeshwar
Industries Environment
No Index No
Is Prebook No
Keyword 1 Lighting Industry
Keyword 2 Circular Economy In Lighting Industry
Keyword 3 Lighting Industry Analysis
Podcast No
WIP Number PFE4-01-00-00-00