The Global Market for General Lighting Market to Grow To $47.6 Billion By 2018
Wellesley, MA (PRWEB) March 18, 2014
According to a new technical market research report General Lighting: Global Markets, from BCC Research (http://www.bccresearch.com), the global market for general lighting was valued at nearly $25.7 billion in 2012 and nearly $29.8 billion in 2013. BCC Research expects the market to grow to $47.6 billion by 2018, and register a five-year compound annual growth rate of 9.8% from 2013 to 2018.
Increasing adoption of LEDs has spurred a major transformation within the already well-established general lighting market. Once dominated by lamps and luminary market participants, semi-conductor players now have a major role. While the recent slowdown of residential construction is a significant barrier for the general lighting manufacturers, the market is presenting significant opportunities for energy-efficient technologies, and Asia holds huge potential.
The general lighting market comprises a range of display/bulbs, including light-emitting diode (LED) lamps, compact fluorescent lamps (CFL), halogen lamps, lighting control systems, and high-intensity discharge (HID) lamps. Of these, LED lighting is the fastest-growing segment, and is expected to witness significant growth within the forecast period resulting from swifter LED price erosion, governments’ encouraging LED lighting usage, and growing LED adoption by high energy-utilization end markets.
The Asia-Pacific (APAC) region is expected to lead the general lighting market, followed by Europe and North America in terms of growth rate. This growth is attributed to APAC’s strong economic progress, mainly because of China, and a rapidly growing population. LED penetration is increasing faster in Europe and North America, mainly because of the implementation of more stringent regulation encouraging energy-efficient technologies. In the next 9 to 10 years, APAC is expected to surpass the North American and European general lighting markets owing to its sizable adoption rates and increasing infrastructure.
Increasing LED adoption, price reduction, government incentives, and broadening utilization will drive significant growth in the general lighting market for at least the next five years.
This technical market research report provides an overview of the global general lighting market by display type, application, end users, distribution channel, pricing and region. It discusses various existing lighting display types such as LED, CFL, halogen, HID, and lighting control systems. It also includes an assessment of various stakeholders involved in the market's various distribution channels, including manufacturers, wholesalers, and retailers. In addition, it presents strategies adopted by major players in the global general lighting industry, and provides analyses of technological trends in the global market across years as well as regions, including the United States, Europe, and Japan.
For the purposes of this report, the general lighting market is segmented by type of display, including LED (light-emitting diode), CFLs (compact fluorescent lamps), incandescent lamps, halogen lamps, linear fluorescent lamps and HID (high-intensity discharge). System control components include lighting control sensors, lighting controllers, lighting management systems, and others such as dimmers and timers. In addition, the market is segmented by applications, end users, and distribution channels. This report exclusively focuses on general lighting used for ambient purposes and excludes markets for backlighting, automotive lights and other specialty applications.
The report is intended for lighting technologies and display manufacturers, and potential entrants; wholesalers, distributors, and retailers of lighting technologies; and research institutes and associations.