Rapid Penetration of LED Lighting & Luminaires Drives the Lighting Fixtures & Luminaires Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) April 30, 2015 -- Follow us on LinkedIn – Driven by the need for sustainable energy consumption, the world is recognizing solid-state lighting as a key solution to conserve energy. Semiconductor lighting solutions such as LEDs is rapidly penetrating the general lighting industry, which commands about 20% of the global electricity consumption. The lighting technology mix varies significantly across most regional markets, with consumers in Europe exhibiting preference for the warm-colored light offered by incandescents and halogens. In Asia, for instance, linear fluorescent bulbs are most prevalent in the residential sector. Future growth in the market will be driven by increasing urbanization, changing demographics and innovation in fixtures targeted mainly at improving functionality. With governments worldwide legislating economic stimulus programs to combat slowing GDP, the higher investments in public infrastructure will spur new opportunities for the sales of energy-saving eco-friendly Light Emitting Diode (LEDs).
Strong growth projected for the construction industry, steadily rising automotive production particularly in developing countries, favourable government policies, and enhanced efficiency levels, represent other important factors that are expected to drive market growth in the coming years. Increase in green building construction activities, and retrofitting of the already existing buildings for conversion to green buildings, are driving demand for energy-efficient lighting fixtures in developed countries. While LEDs winning the war against incumbent inefficient lighting technologies represent the highlight of the lighting industry in recent years, the future belongs to connected lighting, embedded lighting and sustainable lighting. These three innovative areas will dominate luminaire technology trends in the coming years promoting market expansion. Another luminaire advancement that is poised to benefit market prospects in the near term include intelligent and smart lighting fixtures that dynamically respond to the many commands that light sources receive from dimming products, smart lighting controls and energy management systems.
As stated by the new market research report on Lighting Fixtures and Luminaires, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 7.2% over the analysis period. The sheer size of some of the large markets in the region, particularly China and India, coupled with the rapid rise in construction and automotive sectors which are chief end-use markets for fixtures, represent important growth drivers in the region. Other key drivers include large scale infrastructure development, rapid urbanization, expanding middle class, and rising acceptance of higher value lighting fixtures.
Key players covered in the report include Acuity Brands Lighting Inc., Advanced Lighting Technologies Inc., Bajaj Electricals Ltd., Cooper Industries Plc., Cree Inc., Evolution Lighting, LLC, Fagerhults Belysning AB, GE Lighting North America, Grote Industries Inc., Havells Sylvania, HELLA KGaA Hueck & Co., Hubbell Lighting Inc., Spaulding Lighting Inc., Juno Lighting Group, Koito Manufacturing Company Ltd., LSI Industries Inc., NVC (Huizhou) Lighting Technology Corporation, Opple Lighting, OSRAM GmbH, Panasonic Corporation, Koninklijke Philips N.V., SIMKAR Corporation, Targetti, Taschibra Brasil, Toshiba Lighting & Technology Corp., Wenzhou Ouhai Sanyang Luminaire Factory, and Zumtobel Group AG, among others.
The research report titled “Lighting Fixtures and Luminaires: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, issues, challenges, product launches and strategic industry activities of major companies worldwide. The report provides market estimates and projections in dollars for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Portable Fixtures and Luminaires, Non-Portable Fixtures and Luminaires, and Parts & Accessories. Major end-use applications analyzed in the report include Automotive, and General Lighting (Residential, Office, Outdoor, Architectural, and Others).
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 408-528-9966, [email protected]
Share this article