Estimates 2015 LED Industrial Lighting Market to Reach US$2.37 B
The report shows an intense level of price
competition in the market for LED replacement lighting products, including LED
light bulbs and light tubes sold in retail stores. More and more LED lighting vendors hope to capitalize on the
situation by entering the industrial lighting sector. Based on LED inside’s
forecast, LED industrial lighting market scale will be worth US$2.366 billion
in 2015 and by 2018 the scale will reach US$3.935 billion.
Comparing with some lighting products, industrial lighting products operate under much longer period, so switching to the energy-saving LED technology in the latter application is more cost-effective. As a result, LED commercial lighting fixtures have become more attractive for industrial lighting users for replacement purposes. Furthermore, LED lighting products have seen additional increases in performance and decreases in price. These improvements, together with industrial lighting products’ high profit margins, have made industrial application the most competitive market for LED package and LED luminaire companies for the 2015-2016 period.
Among different fixture types, LED commercial downlight products are the largest in terms of market share. This category is further subdivided into mining and general application (or for uses in warehouses, gyms, and other indoor settings). Thus, LED commercial downlight lights are now a major focus in the development of industrial lighting market. Without the need to warm up, LED lights are instantly bright the moment it is switched on and instantly goes dim at switch-off. This advantage, plus LED’s long lifespan, reduce maintenance costs significantly. Therefore, LED is more cost-effective than HID under long and continuous usage.
Leaders in LED industrial lighting include American manufacturers such as GE Lighting, CREE, and Cooper Lighting have performed well in the market, as well as their Japanese counterparts IWASAKI and Toshiba, and Chinese LED manufacturer OKT Lighting. Among these competitors, CREE has made advances with high-power LEDs that save costs and simplify product designs. GE Lighting by contrast focuses on LED module adoption and thermal dissipation design. Their luminaires can have a life of up to 100,000 hours.