Industrial and Commercial LED Lighting Market To Rise Due to Its Environmental Advantages : Market Forecast For Upcoming Years
The high level of brightness, high efficiency, reliability, and longer lifespan of LED lights have led to their extensive usage. These lights are manufactured using semiconductor components and they emit lesser radiated heat as compared to fluorescent and incandescent lights. CFLs and incandescent bulbs emit over 75% heat. While incandescent bulbs emit large amount of carbon-dioxide, fluorescent lights emit harmful gases. As LED lights are environment-friendly, they are being increasingly used across various sectors.
The report states that the high efficiency and durability of LED lights has boosted their demand across the industrial and commercial sectors. Various initiatives taken by governments such as ban on incandescent lights and attractive payback on usage of LED lights have further fuelled the growth of the global industrial and commercial LED lighting market. However, the dominance of fluorescent lamps and high initial costs of LED lights are expected to impede the growth of the market during the forecast period. The overall market has a huge opportunity to grow with the increasing trend of patent filings and the rising awareness about smart lighting, especially across emerging economies.
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On the basis of end users, the report categorizes the global industrial and commercial LED lighting market into commercial, industrial, architectural, and outdoor. The commercial segment has been further divided into educational institutes, retail shops, hotels and restaurants, office buildings, and warehouses and storages. In 2012, the commercial segment held 52.5% of the market.
The report studies the industrial and commercial LED lighting market across four key regions: Europe, Asia Pacific, North America, and Rest of the World. Europe dominates the overall market and held a share of 33.1% in the global market in 2012. The growth of the market in Europe can be attributed to the growing investments by various governments in the region. The complete ban on the manufacturing and import of incandescent lamps has also fuelled the growth of this regional market. The U.K., Denmark, Russia, and Germany are the key countries driving the growth of the Europe industrial and commercial LED lighting market.
According to a recent market research report published by Transparency Market Research, the global industrial and commercial LED lighting market is projected to take a leap at a CAGR of 30.8% during the period between 2013 and 2019. The report, titled “Industrial And Commercial LED Lighting Market – Global Industry Size, Market Share, Trends, Analysis And Forecast, 2013 – 2019,” forecasts the global industrial and commercial LED lighting market to reach a valuation of US$86.0 bn by 2019. The market was worth US$12.9 bn in 2012.
Browse the full Industrial And Commercial LED Lighting (Industrial, Commercial, Architectural, And Outdoor) Market – Global Industry Size, Market Share, Trends, Analysis And Forecast, 2013 – 2019 report at http://www.transparencymarketresearch.com/industrial-commercial-led-lighting-market.html
Describing the competitive hierarchy, the report profiles some of the key players in the global industrial and commercial LED lighting market such as Digital Lumens Inc., Cooper Industries plc, Osram Lict AG, Koninklijke Philips Electronics N.V., Dialight plc, Cree Inc., GE Lighting Solutions, Zumtobel AG, and Toshiba Corporation. The report further provides insightful information about the key players including their financial overview, research and development status, and product portfolio.
Global industrial and commercial LED lighting market has been segmented as:
Industrial and Commercial LED Lighting Market by End user
Hotel & restaurants
Warehouse & storages