Mountain View, CA--Among the nuggets of info in a market-research report by Strategies Unlimited on LED luminaires is that the global market for such devices is expected to grow to $8.3 billion by 2014. Rapid improvements in performance and price of commercially available high-brightness LED packages, heightened awareness about energy efficiency, phasing out of incandescent bulbs, and fiscal stimulus undertaken by countries around the world, created conditions for adoption of white-light applications of LED technology, which otherwise would have faced the low-volume-high-cost conundrum, says the report.
Quality issues that affected the market penetration of previous energy-efficient lighting technologies continue to affect this market, but the resolve to reduce energy consumption is likely to propel this technology so that it is widely commercialized and adopted by the market.
The Strategies Unlimited LED Luminaires, Market Analysis & Forecast includes nine LED lighting-application segments and analysis for the period from 2008 to 2014.
As LEDs are the most efficient light-source technology for uses requiring a directional beam of light and batteries, consumer-portable applications were the largest segment of the LED luminaire market in 2010. The quality of LEDs has improved to a point that performance is no longer an issue; the issue now is the price of designing LEDs into luminaires. Color and color-changing use in architectural and entertainment applications together had revenues more than $1 billion in 2010.
Residential lighting is rapidly growing
Starting from a small base, residential lighting--the fastest growing segment of the market--is forecast to grow at a compound annual growth rate (CAGR) of 44% through 2014. Global revenues for LED luminaires in commercial/industrial applications are expected to reach more than $1 billion in 2011. Outdoor area-lighting applications, which benefited from fiscal stimulus and the need for energy conservation, are expected to grow at a CAGR of 38% through 2014.
Solar-powered lanterns will be a low-margin, high-volume application assisted by NGOs and governments trying to save fuel subsidies. The revenues for this subsegment are forecast to grow at a CAGR of 58% for the same period. LED exit signs have become a mature market in the U.S. and are in the initial stage of market penetration in white light application in egress signage lighting outside the U.S. China is the largest market as well as the largest supplier of LED luminaires.
This report is the latest in a series of reports on LED markets. This follows the market research reports on HB-LEDs (June 2010), HB-LEDs in Lighting (March 2010), LED Lighting Fixtures (January 2009), and LED Replacement Lamps (June 2009).
Founded in 1979, Strategies Unlimited specializes in market research and strategic consulting directed at photonics systems and components. The company, based in Mountain View, California, is a research unit of PennWell Corporation, a global media and information company. The LED & Lighting Media Group of PennWell includes LEDs Magazine; website, e-newsletters and Suppliers Directory; market research with Strategies Unlimited; and leading events with Strategies in Light, LED Japan/Strategies in Light and Strategies in Light Europe.
For more information, contact Strategies Unlimited at +1 650 941-3438 (voice) or e-mail at [email protected], or visit the company's web site at www.strategies-u.com.
