LED lighting technology delivers high efficiency, high level of brightness, long lifespan and high reliability than incandescent, fluorescent and HID lights. LED light minimizes the operating and maintenance cost and is also considered as environment friendly lighting, as it does not emit harmful gases. LEDs emit very less heat compared to incandescent bulbs and CFLs.
Albany, NY -- (SBWIRE) -- 09/09/2016 -- LED lighting delivers high efficiency, high level of brightness, long lifespan and high reliability. LED lights are manufactured using semiconductor components and emit less radiated heat as compared to other products such as incandescent and fluorescent. According to the U.S. Department of Energy (DOE), LEDs emit very less heat compared to incandescent bulbs (90%) and CFLs (80%). LED lights are used across various end users applications such as industrial, commercial, architectural and outdoor.
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.
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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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