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Global LED lighting market forecast to benefit from increased government legislation

Time£º2013/7/3 Posted£ºSHENZHEN YUKON LIGHTING CO.,LTD.

The world LED lighting market is driven primarily by government regulations and policies towards the use of energy efficient lighting. Over the same time period, the world LED lighting market has also experienced declining lighting product prices. Growth in the sectors such as residential, outdoor and industrial are forecast to drive revenue growth in the total LED market during the period 2012 to 2017.


On a global scale, it is forecast that Gu10 60W equivalent LED lamps prices will decline and this price is also expected to be reported across all of the LED light products. The global LED market is expected to see a surplus of LED products and this over supply is forecast to drive prices downwards.


The development of alternative technologies and high initial investment required to install LED lighting is expected to represent the key challenges faced by companies operating in the global LED market. By raising awareness of LED lighting within the residential market as well as focusing on the provision of financing projects, leasing and maintenance of lighting solutions within the professional lighting market will enable companies offering LED lighting tackle these challenges. The LED market is also expected to benefit from the high level consciousness towards energy efficiency and increased activity within the outdoor activities and the application of LED lighting outdoors. LED lighting is more energy efficient than more traditional lighting and the costs to energy usage is also forecast to drive the increased market revenues globally.

 

The LED market is expected to develop further by targeting the functionality of these lights to affect moods for end users by allowing colour control and light management systems to be implemented. In addition, companies offering LED lighting solutions are expected to offer financing, leasing and maintenance lighting solutions to help corporations and clients to overcome the high initial investment required to install these types of lights. In order to complete projects successfully, companies offering LED lighting solutions will have to focus more on providing expertise, consultations and also maintenance solutions to end users.


Within the world LED market, the top three companies operating in the sector dominate sales within the tier 1 structure. Standardisation of LED products will be the launch pad to commoditize solid state lighting (SSL) in the mass consumer market (residential segment). In addition, Asia Pacific is expected to maintain their dominant market share of the global LED lighting market over the next few years as a result of the continued investment in infrastructure projects. In addition, it is expected that large-scale construction projects in the Gulf Cooperation Council countries will also drive growth in LED lighting and the adoption of SSL over the next few years.


Companies operating the world LED market are investing more money in research and development although corporations' marketing expenditure is forecast to remain stable.


The financial turbulence and Europe's debt crisis has had a negative impact on the global lighting market although it is the increased regulation being implemented globally which is fuelling the increased penetration of more energy-efficient lighting solutions. LEDs are therefore benefiting from the implementation of this new legislation. China has recently passed new legislation which bans incandescent light bulbs which has reinforced this trend. The percentage of LED lighting of the total lighting market is forecast to total 70% by 2020 as LED lights take preference over more traditional lighting options.

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