Strategies Unlimited forecasts LED luminaires to comprise 60% of global luminaire shipments by 2022
Mountain View, CA — Strategies Unlimited has released its annual market research report, Global Luminaires: Lighting Analysis and Forecast 2014. This report foresees revenue growth of 11% for the LED luminaire market from 2014 to 2022. The overall luminaire market will experience growth of 1% for the forecast period. This seemingly stagnant growth is due to all other technologies except for LED luminaires declining in demand and shipment. The slow growth in luminaires is also due to the anticipated price decline of LED luminaires due to price wars. Also, as penetration of LED luminaires increase, the replacement failure rates will decrease due to the longevity of the product. This will reduce shipments due to product failure. The figure below illustrates the anticipated healthy growth of LED luminaire units from 2014 through 2022.
Strategies Unlimited Luminaire Analyst Shonika Vijay commented on this expected growth of LED luminaires. “Lighting companies who do not consider LED luminaires as being the dominant product in the coming years within their company product offerings will be left behind regardless of the region they play in.”
The Global Luminaires: Lighting Analysis and Forecast 2014 offers insight into the total lighting market through 2022 by covering all technologies, including incandescent, halogen CFL, fluorescent, and LED. This enables a holistic overview of the entire lighting landscape and how LED luminaires are expected to increase in adoption and penetration with respect to specific applications and regions in the coming years.
The report evaluates the luminaire market for the different facets of the industry that have different lighting behaviours, lighting preferences, regulatory forces, and competitive landscapes. One of the parameters includes, but is not limited to, a detailed breakdown of the lighting market by the following regions:
• North America
• Western Europe
• Eastern Europe
• Latin America
• Rest of the World (Middle East and Africa and Rest of APAC)
Another parameter is a breakdown of the luminaire by the major lighting applications:
LED luminaires have already shown impressive growth in certain form factors such as downlights and street lights. Considering the major luminaire form factors for general lighting, LED luminaires have started to show a promising outlook in the next year or so in few form factors while still looking to overcome market barriers in others. The major luminaire form factors included in this report are downlights, troffers, track lights, suspended pendants, high bays, and street lights.
About Strategies Unlimited
Strategies Unlimited, a division of PennWell Corporation, is the world leader in market research in LEDs and lighting, lasers and photonics devices, and beyond. With a unique blend of in-depth historical market knowledge and technological expertise, Strategies Unlimited produces highly detailed market reports, custom studies, and provides consulting services. Additionally, Strategies Unlimited presents industry events, including the Strategies in Light series and The LED Show, to large audiences worldwide. For additional information about Strategies Unlimited, contact Tim Carli or visit www.strategies-u.com.
About PennWell Corporation
Founded in 1910 in Tulsa, Oklahoma, PennWell Corporation is a privately held and highly diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power generation and delivery, hydropower, renewable energy, water and wastewater treatment, waste management, electronics, semiconductor manufacturing, optoelectronics, fiber-optics, aerospace and avionics, LEDs and lighting, fire and emergency services, public safety, and dental. PennWell publishes over 130 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, websites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; London, England; Houston, Texas; San Diego and Mountain View, California; Fairlawn, New Jersey; Moscow, Russia; and Hong Kong, China. For additional information about PennWell Corporation, visit www.pennwell.com.
Tim Carli, Sales Director - Strategies Unlimited
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