The global industrial
and commercial LED lighting market is growing rapidly mainly due
to high efficiency of LED lights, government regulations to ban
incandescent lamps and attractive payback of LED lighting. Moreover,
LED lighting is environmental free lighting, as it does not emit
harmful gases that result in hazardous disorders in human beings. For
example, fluorescent lights emit harmful gases that are carcinogenic
and may cause cancer, while incandescent lamps emit large amounts of
CO2. However, LEDs overcome these disadvantages with improved
reliability and high degree of illumination.
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Incandescent lamps use more energy than LED lamps; hence, several
governments have introduced measures to ban their use. Governments
have set minimum efficiency standards and introduced measures to ban
the use of incandescent lamps. For example, in the U.S., federal law
scheduled the phasing out of incandescent bulbs by 2013 and replacing
them with energy efficient LED bulbs. Phasing out of incandescent
bulbs began in January 2013 started with 100 watt bulbs followed by
75 watt bulbs in 2014. Moreover, 40-watt and 60-watt incandescent
bulbs are expected to join the list soon. In Japan, all incandescent
lamps have been banned since 2012. In China, 100-watt and 75-watt
incandescent lamps have been banned since 2012 and 2013 respectively.
In Brazil, 100-watt and 60-watt+ incandescent lamps were banned since
2012 and 2013 respectively. Moreover, non-commercial growth drivers
in the market include actions taken to support LED lighting systems
at the legislative level, development of regulations and standards
that fuels the growth of LED lighting systems and different
programmes for implementing energy-efficient lighting systems at the
level of an individual organization levels. In Japan, after the
Ministry of Economy took the decision to ban the use of incandescent
lamps in 2012, some manufacturers announced that they would stop
production of incandescent lamps and to improve the production of LED
lights. Hence, penetration of LED lighting increased to 30% in 2012
from 16% in 2010. Europe banned import as well as manufacturing of
all incandescent lamps from September 2012. The U.S. has banned
incandescent lamps since 2012; South Korea banned the use of
incandescent lamps in 2013.
According to a conservative study conducted by the DOE (Department of
Energy) LEDs have the potential to reduce yearly consumption by 190
terawatt hours in the U.S. Additionally, LEDs can further reduce
greenhouse gases by at least 10% over the period of five to ten
years. LED lighting lowers overall cost of lighting as it offers
about 50,000 hours of illumination with a fraction of energy used by
traditional incandescent bulbs. It extends time between bulb
replacements. LED lighting is preferred as near zero maintenance
lighting system. Suppliers of LED lighting offer more than 150
different lamp and bulb styles to meet the needs of businesses and
consumers.
Lighting presents huge opportunity to reduce energy consumption. The
global lighting market is currently under-penetrated by LEDs. Low
penetration is attributed to the nascent stage of LED technology and
dominance of other technologies in lighting. Incandescent bulbs
accounted for 58% of the lighting market in 2012, followed by
fluorescent lamps with 25%. LED lighting is expected to increase its
market share when LED products truly compete with incumbent products
on performance and price. LED penetration in the market is less than
10% due to higher penetration of fluorescent and compact fluorescent
lights. High cost of LED lights as compared to fluorescent lights
and higher penetration of fluorescent lamps as compared to LED lights
are some of the factors restraining the growth for LED lighting
market. However, government regulations to ban incandescent lamps is
expected to minimize the impact of this restraint as LEDs are
expected to capture the market shares of incandescent lamps in next
few years.
The report includes segmentation of Industrial and Commercial LED
Lighting market by end user and geography. Further, it provides
current and forecast market size by revenue for the aforementioned
categories. Cross sectional analysis for end user and geography
segments is a part of the scope. Factors influencing and inhibiting
the growth of the market have been analyzed. Porter’s five forces
analysis offers insights on market competition.
This study includes profiles of key players in the market and the
strategies adopted by them to sustain the competition. Recent
developments and barriers of the market will help emerging players to
design their strategies in an effective manner. The study is expected
to help key players of LED lighting market in formulating and
developing their strategies.
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