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Government Imposed Environmental Regulations to Aid Adoption of LED Lightings, says TMR

Posted on Sep 08, 2016

The global industrial and commercial LED lighting market is comprises a large number of local players and a significant number of international companies, reports Transparency Market Research in a new study. As a result of this, the competitive rivalry is expected to stay high over the next couple years due to the different prices and products provided by both local and global companies. To increase their consumer base, several companies are taking initiatives to spread awareness about the benefits of industrial and commercial LED lights. The top four companies in the global industrial and commercial LED lighting market, Philips Electronics N.V., Osram Opto, Cree Incorporation, and GE Lighting accounted for approximately 34.4% of the overall revenue share in 2012. 

The global industrial and commercial LED lighting market is projected to rise at a 30.8% CAGR between 2013 and 2019. In 2012, the global industrial and commercial LED lighting market stood at a value of US$12.92 bn and is projected to touch a valuation of US$86.08 bn by the end of 2019. The commercial segment is anticipated to emerge dominant among end users with a market worth US$45.28 bn by 2019. The growing use of LED lights in segments such as hospitality and office and retail sub-segments is further projected to enhance the demand for LED lights in this segment. The rise in worldwide construction of commercial buildings is likely to push the sales of LED lights across the world in the commercial sector.

Europe to Gain Lead Over other Regions in Industrial and Commercial LED Lighting Market

Owing to the reduction in energy consumption and carbon emission concerns, the consumption of industrial and commercial LED lighting has substantially increased over the last couple of years. The implementation of the Eco design directive is estimated to positively impact the growth of the industrial and commercial LED lighting market in Europe. Eco design directive sets standards for minimum energy requirement in industrial and commercial sectors. The industrial and commercial LED market in Europe is estimated to reach a market worth US$27.99 bn from a value of US$10.25 bn in 2015. The key benefits of LED lights such as less environment pollution, extended life span, and low power consumption are further expected to drive the demand for industrial and commercial LED lighting in Europe.

Ban on Incandescent Lights by Governments to Augment Demand for Industrial and Commercial LED Lighting

According to a TMR analyst, “The rise in the level of pollution from incandescent lights has impelled governments across the world to issue regulatory reforms regarding their use.” Incandescent lights also consume greater power than LED, thus, several governments across the world have introduced policies to impose restrictions on their use. Governments have also issued minimum efficiency standards to support the adoption of LED lighting across all sectors. As LED lighting is highly efficient and durable, many sectors are shifting their focus towards their large-scale use. The promotion by LED lightings by many government and non-government organizations is also likely to boost the sales of industrial and commercial LED lighting in the coming years. Moreover, the rising non-commercial use of LED lights is another factor driving the growth of the global industrial and commercial LED lighting market.

High Initial Cost and Domination of Fluorescent Lamps to Inhibit Growth of Market

As a result of the nascent stage of LED technology, the penetration of industrial and commercial LED lighting is comparatively low in the market. Though government bans on incandescent lighting have helped manufacturers of LED lighting to establish a stable position in the market, the presence of fluorescent light is likely to pose a threat towards the consumption of LED lighting in the future. Moreover, the high initial cost of LED lights in comparison to fluorescent lights is another key factor inhibiting the growth of the global industrial and commercial LED lighting market. However, growing investments in research and development activities along with rising consciousness about green lighting among consumers are anticipated to present lucrative growth opportunities to manufacturers of industrial and commercial LED lighting to capitalize on.

The review is based on the findings of a TMR report titled, “Industrial and Commercial LED Lighting Market - Global Industry Size, Market Share, Trends, Analysis and Forecast 2013 – 2019.”

Industrial and Commercial LED Lighting Market by End user

  • Industrial
  • Commercial
    • Office buildings
    • Hotel & restaurants
    • Retail shops
    • Educational institutes
    • Warehouse & storages
  • Architectural
  • Outdoor

Industrial and Commercial LED Lighting Market by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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