LED
lighting delivers high efficiency, high level of brightness, long
lifespan and high reliability. LED lights are manufactured using
semiconductor components and emit less radiated heat as compared to
other products such as incandescent and fluorescent. According to the
U.S. Department of Energy (DOE), LEDs emit very less heat compared to
incandescent bulbs (90%) and CFLs (80%). LED lights are used across
various end users applications such as industrial, commercial,
architectural and outdoor.
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Industrial and Commercial LED Lighting Market Report with Full TOC at
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The
global industrial and commercial LED lighting market is growing
rapidly mainly due to high efficiency of LED lights, government
regulations to ban incandescent lamps and attractive payback of LED
lighting. Moreover, LED lighting is environmental free lighting, as
it does not emit harmful gases that result in hazardous disorders in
human beings. For example, fluorescent lights emit harmful gases that
are carcinogenic and may cause cancer, while incandescent lamps emit
large amounts of CO2. However, LEDs overcome these disadvantages with
improved reliability and high degree of illumination.
Incandescent
lamps use more energy than LED lamps; hence, several governments have
introduced measures to ban their use. Governments have set minimum
efficiency standards and introduced measures to ban the use of
incandescent lamps. For example, in the U.S., federal law scheduled
the phasing out of incandescent bulbs by 2013 and replacing them with
energy efficient LED bulbs. Phasing out of incandescent bulbs began
in January 2013 started with 100 watt bulbs followed by 75 watt bulbs
in 2014. Moreover, 40-watt and 60-watt incandescent bulbs are
expected to join the list soon. In Japan, all incandescent lamps have
been banned since 2012. In China, 100-watt and 75-watt incandescent
lamps have been banned since 2012 and 2013 respectively. In Brazil,
100-watt and 60-watt+ incandescent lamps were banned since 2012 and
2013 respectively.
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Moreover,
non-commercial growth drivers in the market include actions taken to
support LED lighting systems at the legislative level, development of
regulations and standards that fuels the growth of LED lighting
systems and different programmes for implementing energy-efficient
lighting systems at the level of an individual organization levels.
In Japan, after the Ministry of Economy took the decision to ban the
use of incandescent lamps in 2012, some manufacturers announced that
they would stop production of incandescent lamps and to improve the
production of LED lights. Hence, penetration of LED lighting
increased to 30% in 2012 from 16% in 2010. Europe banned import as
well as manufacturing of all incandescent lamps from September 2012.
The U.S. has banned incandescent lamps since 2012; South Korea banned
the use of incandescent lamps in 2013.
According
to a conservative study conducted by the DOE (Department of Energy)
LEDs have the potential to reduce yearly consumption by 190 terawatt
hours in the U.S. Additionally, LEDs can further reduce greenhouse
gases by at least 10% over the period of five to ten years. LED
lighting lowers overall cost of lighting as it offers about 50,000
hours of illumination with a fraction of energy used by traditional
incandescent bulbs. It extends time between bulb replacements. LED
lighting is preferred as near zero maintenance lighting system.
Suppliers of LED lighting offer more than 150 different lamp and bulb
styles to meet the needs of businesses and consumers.
Lighting
presents huge opportunity to reduce energy consumption. The global
lighting market is currently under-penetrated by LEDs. Low
penetration is attributed to the nascent stage of LED technology and
dominance of other technologies in lighting. Incandescent bulbs
accounted for 58% of the lighting market in 2012, followed by
fluorescent lamps with 25%. LED lighting is expected to increase its
market share when LED products truly compete with incumbent products
on performance and price. LED penetration in the market is less than
10% due to higher penetration of fluorescent and compact fluorescent
lights. High cost of LED lights as compared to fluorescent lights
and higher penetration of fluorescent lamps as compared to LED lights
are some of the factors restraining the growth for LED lighting
market. However, government regulations to ban incandescent lamps is
expected to minimize the impact of this restraint as LEDs are
expected to capture the market shares of incandescent lamps in next
few years.
The
report includes segmentation of Industrial and Commercial LED
Lighting market by end user and geography. Further, it provides
current and forecast market size by revenue for the aforementioned
categories. Cross sectional analysis for end user and geography
segments is a part of the scope. Factors influencing and inhibiting
the growth of the market have been analyzed. Porter’s five forces
analysis offers insights on market competition.
This
study includes profiles of key players in the market and the
strategies adopted by them to sustain the competition. Recent
developments and barriers of the market will help emerging players to
design their strategies in an effective manner. The study is expected
to help key players of LED lighting market in formulating and
developing their strategies.
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