Industrial and Commercial LED Lighting Market Analysis By Application And Segment Forecasts 2015 To 2022

Industry Insights

The global industrial and commercial LED lighting market size was worth USD 21.53 billion in the year 2014. It is predicted to observe substantial growth by 2022. Reliability, durability, and efficiency are anticipated to accelerate the demand for LED over traditional technologies. Condensed size, robust nature, high-level brightness, and low power consumption are few other factors expected to drive market growth.

The next-generation lighting has replaced incandescent bulbs due to the low operational cost, reduced heat loss, and higher efficiency. Technological advancements in conventional to green conventional lighting with increased energy efficiency standards, erosion, and swift price have resulted in higher demand.

Furthermore, smart lighting is poised to provide beneficial opportunities for use in industrial and commercial areas. It is able to adjust the volume of light needed through control zones. The smart city schemes have gained traction in Europe and U.S. with the increasing emphasis on strategies to lower peak power demand and the total usage of energy.

The dominance of fluorescent lamps and high initial cost may restrain the industry growth. However, stringent government regulations relating to prohibiting incandescent lamps are predicted to reduce the effect in the near future.

Application Insights

The segment is categorized into commercial, industrial, architectural, and outdoor. The architectural segment includes digital signage, landscapes and columns, statues, illumination of building structures, and other attractive features.

Swift price reduction of LED lights has led to its penetration in several areas, reducing the size of conventional lighting based on revenue and units. The industrial division is anticipated to grow at a slower pace than its counterparts due to the presence of current and extensively used fluorescent and high-intensity discharge (HID) technologies with advanced performance.

Furthermore, the commercial segment consists of hospitality, office, education buildings, warehouse storage, and retail applications. This segment has observed increased adoption as a substitute for fluorescent, incandescent, and HID lighting.

The outdoor segment includes the airport, corporate campus, government & healthcare, municipal, industrial warehouse, and other private outdoor spaces. Municipality and public policy interventions can pose a challenge for the demand for this segment. Government schemes like LightSavers, an initiative by The Climate Group is likely to augment the replacement of conventional counterparts. The rising need for high-resolution 10 mm billboards and signs, which are suitable for heavy pedestrian traffic areas and custom-made content, are anticipated to evolve the outdoor display market in the coming seven years.

Regional Insights

Europe is expected to acquire a considerable share owing to the increasing government spending and the prohibition of importing and producing incandescent lamps.

Asia Pacific is further likely to dominate the industrial & commercial LED lighting market owing to high construction levels, the substitution of current outdoor infrastructure along government spending for high-efficiency lighting. The government of China has offered numerous incentives for replacing conventional street lights with LEDs to create quality products and solutions adhering to standards. Furthermore, the government in 2012 announced to prohibit the sales and imports of 100 watts and above incandescent bulbs which is likely to augment demand. Additionally, the rising investment in infrastructural developments including shopping centers, urbanization, and road in countries like India, Taiwan, and Mexico has deployed for efficient technologies.

Other nations like Germany, U.K., Denmark, and Russia are aiming at creating efficient solutions to reduce the total cost and improve quality.

Competitive Market Share Insights

The key players in the industrial and commercial LED lighting market include Cree Corporation, Philip Electronics N.V., Digital Lumens Inc., GE, Osram Opto, Toshiba Corp., Cooper Industries Plc., and Dialight Plc. These players are aiming at enhancing the technology by the deployment of affordable products with efficient performance. Technology innovation, product development, and product optimization are vital for market players to gain a competitive edge.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2012 to 2022. For the purpose of this study, Million Insights has segmented the global industrial and commercial LED lighting market based on application and region:

• Application Outlook (Revenue, USD Million, 2012 - 2022)
    • Outdoor
    • Architectural
    • Industrial
    • Commercial

• Regional Outlook (Revenue, USD Million, 2012 - 2022)
    • North America
    • Europe
    • the Asia Pacific
    • RoW