The market for LED lighting in commercial and industrial applications was valued at USD 21.53 million in 2014. It is expected to grow significantly over the forecast period. LEDs are expected to be more popular than conventional technologies due to their reliability, high efficiency, and long life span. Other factors that will drive industry growth include high brightness, compact size, low power consumption and robust nature.
North America's industrial and commercial LED lighting market, 2012-2022 (USD Million).
Because of its low cost, high efficiency and lower heat loss, next-generation lighting is now an alternative to incandescent bulbs. Technological advances in traditional lighting have allowed for a shift to green lighting. These lights are more energy efficient and less expensive.
Smart lighting will also be a lucrative option for industrial and commercial applications. The lighting system can adjust the required amount of light using control zones. With increasing focus on strategies to reduce peak energy demand and overall energy consumption, smart cities have been popularized in Europe and the U.S.
The dominance and high initial cost of fluorescent lamps could limit the growth of LED lighting in commercial and industrial applications. Over the next few decades, however, the government will likely reduce the impact of its ban on incandescent lamps.
The application of the industry can be divided into four categories: industrial, commercial, outdoors, and architectural. Architectural applications include illumination of buildings structures, digital signage and statues, landscapes, columns, and other decorative elements.
The rapid price erosion of LED lighting has consequences for its penetration into various applications areas. This decreases the market share of traditional lighting in terms both of units and revenue. Due to the availability of high-performance fluorescent and high-intensity-discharge (HID) technologies, the industrial segment will be slower-growing than other segments.
Commercial also includes commercial, retail, hospitality and education buildings as well as office and warehouse storage applications. This segment is a popular alternative to incandescent, fluorescent and HID lighting.
There are many outdoor applications, including airports, corporate campuses, warehouses government & health, municipal and other non-public outdoor areas. Public policy and municipal interventions can affect its demand. The replacement of traditional counterparts will be triggered by government initiatives like The Climate Group's LightSavers program. The outdoor display industry will see a significant increase in demand for billboards and signs with 10 mm resolution, which are great for pedestrian traffic areas. Additionally, customizable content is expected to make outdoor displays more attractive over the next seven-years.
Due to increased government investment and the ban on importing and producing incandescent lamps, Europe's industrial and commercial LED lighting market will account for a substantial portion. Asia Pacific will also be a major contributor due to its high construction rates and the replacement of outdoor infrastructure. Government funding for high-efficiency lighting is another reason. In China, the government has offered huge incentives to use LEDs to replace streetlights.
The government announced in 2012 that it would ban the import and sale of 100-watt or higher incandescent bulbs. This is expected to increase demand. Additionally, infrastructure investments such as roads and shopping centers have increased and facilitated the development of energy-efficient technologies in countries like Mexico, India, Taiwan. Other countries, such as Russia and Denmark, Germany and Denmark, are also focusing on efficient methods to increase quality and reduce overall costs.
Philip Electronics N.V. and Cree Corporation are the dominant players in the commercial and industrial LED lighting market. Osram Opto and Digital Lumens Inc. also dominate this market. They are focused on improving technology through the development of more cost-effective products that deliver better performance. Industry participants need to optimize production, innovate technology, and develop new products in order to stay competitive.
b. With a 43.2% share in 2019, Asia Pacific was the dominant region for industrial and commercial led light bulbs. This can be attributed to the high construction rate, replacement of outdoor infrastructure and government funding for high efficiency building lighting.
Which are the major players in the commercial and industrial led lighting market?b. Signify Holding, Cree Inc.(IDEAL INDUSTRIES INC.), Osram Opto and Digital Lumens Inc. are some of the key players in the commercial and industrial led lighting market.
What are the driving factors for the commercial and industrial led lighting market?b. Market growth is driven by high efficiency, reliability and longer life span.
What is the size of the commercial and industrial led lighting market?b. Global industrial and commercial led lighting markets were valued at USD 85.2 billion in 2019, and are expected to grow to USD 107.6 trillion in 2020.
What is the growth rate of the commercial and industrial led lighting market?b. Global industrial and commercial led lighting markets are expected to expand at a compound annual rate of 28.2% between 2015-2022, to reach USD 165.9 billion by 2022.
Up Market Research published a new report titled “Industrial and Commercial LED Lighting Market research report which is segmented by Application (Outdoor, Commercial, Architectural, Industrial), By Players/Companies Dialight Plc, INC), Eaton, Cree Inc (IDEAL INDUSTRIES, Signify Holding, Digital Lumens Inc, Toshiba Corp, Osram Opto”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Industrial and Commercial LED Lighting Market Research Report |
By Application | Outdoor, Commercial, Architectural, Industrial |
By Companies | Dialight Plc, INC), Eaton, Cree Inc (IDEAL INDUSTRIES, Signify Holding, Digital Lumens Inc, Toshiba Corp, Osram Opto |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 200 |
Number of Tables & Figures | 140 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Outdoor, Commercial, Architectural, Industrial).
Industrial and Commercial LED Lighting Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Industrial and Commercial LED Lighting Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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