Packaged LEDs in Lighting Applications are forecast to Grow 95% from 2014 to 2019.
Strategies Unlimited released its annual in-depth report on packaged LEDs used in lighting applications,LEDs in Lighting Applications: Market Analysis and Forecast - 2015.
Outcomes for the LED market in lighting in 2014 were strong, with revenues at $5.3 billion, a 16% revenue growth from 2013. Replacement lamps dominated the market with nearly 48% of total revenues in 2014, while luminaires in general lighting categories (commercial, industrial, outdoor and residential) made up another 26% of total revenues.By 2019, all of general lighting will account for over 80% of global packaged LED revenues in lighting.[PS1]
This report provides a more detailed review of the Lighting section of Strategies Unlimited’s recently released Worldwide LED Report, and analyzes the market for packaged LEDs used in the following lighting applications: replacement lamps, luminaires in commercial, industrial, outdoor, residential, architectural, strips & strings, entertainment, consumer portable, off-grid, retail display and safety & security. Analysis was also done by material and package type including InGaN, InGaAlP, RGB and low power, mid power, high power and super high power LEDs for each application.
It is projected that replacement lamps will see the largest growth at 20% CAGR from 2014 through 2019, followed by commercial luminaries at 15% and outdoor luminaires at 11%. According to Stephanie Pruitt, Senior Research Analyst at Strategies Unlimited, “Replacement lamps by far have the largest installed base, especially A-lamps. That, along with the government mandates and initiatives, and the continued price pressure, means LED lamps are finally beginning to penetrate globally at a higher rate. In the US,LED A-lamps are easily getting under the $10 mark with some even under $5.”[PS2] Because of this, the packaged LED growth in replacement lamps is going to be stronge throughout the forecast period. Pruitt states that “Commercial and Outdoor luminaires will also see strong packaged LED revenue growth as LED luminaires in these applications already make up nearly 20% of all units shipped globally.”
Mid power LEDs are forecast to have a 16.5% 5-year CAGR as lighting manufacturers use multiple mid power packages to achieve the same light output as high power packages, at a cheaper cost. Super high power will see the strongest growth, at a 5-year CAGR of 28%, as these packages (mainly COBs ) are adopted into directional applications and high-wattage applications.
For more in-depth market information and analysis, purchaseLEDs in Lighting Applications: Market Analysis and Forecast – 2015,available now.
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.
About PennWell Corporation
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