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“LEDs & High Efficiency Lighting to 2017” by Freedonia Group is now
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US demand to rise more than 10%
annually through 2017
US demand
for high efficiency lighting is forecast to increase more than 10 percent
annually to $11.7 billion in 2017, supported by technological improvements and
regulatory changes designed to lower electricity used in lighting applications.
The US market for high efficiency lighting continues to adjust to the
provisions of the Energy Independence and Security Act (EISA) of 2007, which is
leading to a phase-out of traditional incandescent lamps and supporting demand
for products such as LEDs and compact fluorescent lamps. Technological
innovations that are improving the performance of LEDs and many types of high
efficiency lamps are also supporting demand. In addition, particularly in the
LED segment, improvements in manufacturing are leading to lower purchase
prices for many products, thereby boosting market penetration for these
efficient lighting products. However, because high efficiency lighting products
have much longer useful lives, the average replacement rate will decrease over
time, eventually depressing high efficiency lighting demand.
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LEDs to
be fastest growing high efficiency lighting
Demand for LEDs will grow the fastest of any high efficiency lighting
product through 2017. Increased penetration in many residential and nonresidential
building applications, as well as in the outdoor lighting market, will support
advances. While the high initial price of LEDs has hindered their adoption in
many traditional lighting applications, technological innovations that reduce
costs and improve performance will make these products increasingly
competitive. The market for other energy efficient linear fluorescent lamps
will also register strong growth, supported by heightened penetration of T5 and
T8 lamps, in place of less efficient T12 products. In addition, the rebound in
nonresidential building construction will provide some prospects.
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Building
market to offer best growth opportunities
Through 2017, the building market for high efficiency lighting products
will post especially strong growth, supported by a shift to higher value,
longer lasting lighting products and driven in part by rising efficiency
standards for lamps. Residential demand will be bolstered by the replacement of
less efficient lighting that has been phased out due to EISA. Businesses,
institutions, and government entities will turn to high efficiency lighting
products to lower energy expenses and to reduce the labor costs of replacing
lighting products. Over the longer term, the market will be restrained by the
longer service lives of LEDs and newer lamp products, which will limit
replacement demand.
Company
Profiles
Profiles for 40 competitors in the US industry such as Cree, General
Electric, Osram Sylvania, Philips and TCP
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