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Energy Efficient Lighting Market - Smart Lighting is a Lucrative Investment Area for Industry Players; Global Industry Analysis, Size, Share, Growth Trends, And Forecast 2016 - 2024: TMR


News provided by

Transparency Market Research

21 Jul, 2016, 11:30 GMT

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ALBANY, New York, July 21, 2016 /PRNewswire/ --

The top three players in the global energy-efficient warehouse lighting market, namely Philips Lighting Holding B.V., Eaton, and General Electric Company, accounted for nearly 83% of the overall market in 2015, with Philips and Eaton holding an almost similar percentage of shares. Despite this, the presence of numerous small-sized local players, especially in China, has been giving large, international vendors stiff competition, Transparency Market Research (TMR) has found.

"Smart lighting technology has emerged as a leading opportunity for companies in the energy-efficient warehouse lighting market," the author of the study states. Smart lighting has the ability to reduce overall energy consumption, which is making it an attractive investment for warehouse owners. As end users become informed about the benefits of automated smart lighting systems, together with modern CFL, LED, and OLED lamps, their sales are expected to rise.

Increased R&D activities and partnerships for the development of advanced and energy-efficient lighting systems is also a key strategy adopted by several players. A case in point would be Philips. In February 2016, Koninklijke Philips N.V. separated its lighting business to establish Philips Lighting Holding B.V. This has allowed the company to sharpen its strategic focus toward its core competent business. Later in June 2016, this new business joined hands with Netherlands-based Dummen Orange to conduct R&D activities in the LED segment.

Get Research PDF for more Professional and Technical Industry Insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12989

Government Mandates Support Use of Energy-efficient Warehouse Lighting 

"The demand for energy-efficient warehouse lighting has received significant impetus from companies looking to reduce their energy consumption in warehouses," a TMR analyst states. Compared to traditional incandescent lighting systems, advanced and smart lighting solutions such as LED and CFL help companies conserve energy and save on costs. The demand for energy-efficient warehouse lighting has risen with their growing usage in refrigeration, lighting, cooling and ventilation, material handling, and others applications in warehouses.

The energy-efficient warehouse lighting market has also been supported by favorable government regulations around the world. For instance, the U.S. government has banned the use of incandescent lighting in warehouse spaces. It has also provided vendors utility rebates, thereby boosting the use of energy-efficient lighting solutions. Several European countries have implemented Energy Performance Certificates, which require commercial spaces to adhere to energy-efficient processes and requirements.

In contrast, high initial investments and undefined technology issues discourage numerous companies from making the switch to energy-efficient warehouse lighting.

Browse Research Report with ToC & Free Analysis: http://www.transparencymarketresearch.com/energy-efficient-lighting-market.html

Demand for LFLs to Decline as LEDs Gain Prominence 

"The global market for energy-efficient warehouse lighting will witness impressive growth in the coming years," the TMR analyst predicts. Registering a strong CAGR of 13.4% from 2016 to 2024, the opportunity in the market is projected to be worth over US$15 bn by the end of the forecast period, rising from US$4.2 bn in 2014.

Asia Pacific has led the energy-efficient warehouse lighting market at the start of the forecast period and will continue its streak through 2024, accounting for a share of over 45% in terms of revenue. By lighting source, linear fluorescent lamps (LFLs) led the overall market in 2014. However, owing to the increasing popularity of and demand for light emitting diodes (LED), the dominance of LFLs is anticipated to be toppled by LEDs.

Shifting Focus from Developed to Developing Regions Benefits APAC and LATAM Markets 

Geographically, the global energy-efficient warehouse lighting market has been segmented into five regions: North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. In the recent past, lighting companies have shifted their focus from the developed markets of North America and Europe to emerging markets such as India, China, South Africa, Argentina, and Brazil. On account of rapid economic growth, favorable government policies and mega urban projects, these countries present new opportunities for players in the energy-efficient warehouse lighting market.

Regionally, Asia Pacific emerged as the leading segment of the global energy-efficient warehouse lighting market in 2014, with a share of 42.3% in terms of revenue. Japan, China, and South Korea are prominent contributors to the growth of this regional market owing to major investments in the latest lighting technologies. Rapid industrial growth has also stimulated the demand for energy-efficient warehouse lighting. The rising demand for green technologies is likely to be instrumental in boosting the energy-efficient warehouse lighting market in APAC in the coming years.

Europe and North America are highly developed markets with continued steady growth throughout the forecast period. Latin America is fast emerging as an export destination owing to a rapid improvement in trade policies, which has resulted in infrastructure development on a promising scale. This is likely to have a positive impact on the Latin America energy-efficient warehouse lighting market in the years to come.

Browse Regional Market Research: http://www.europlat.org/global-energy-efficient-lighting-market.htm

This review is based on the findings of a TMR report titled "Energy Efficient Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024."

Energy Efficient Lighting Market: By Lighting Source 

  • High-intensity Discharge Lamps (HID)
  • Linear Fluorescent Lamps (LFL)
  • Light Emitting Diodes (LED)
  • Other Lighting Sources

Energy Efficient Lighting Market: By Region 

North America 

  • U.S.
  • Canada
  • Mexico

Europe 

  • U.K.
  • France
  • Germany
  • Rest of Europe

Asia Pacific 

  • China
  • Australia
  • India
  • Rest of Asia Pacific

Middle East and Africa 

  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Rest of Middle East and Africa

Latin America 

  • Brazil
  • Argentina
  • Rest of Latin America

Browse Other Research Report: 

  • Energy Efficient Materials Market: http://www.transparencymarketresearch.com/energy-efficient-materials-market.html
  • Solar Street Lighting Market: http://www.transparencymarketresearch.com/solar-street-lighting-market.html
  • Energy Management Systems (EMS) Market: http://www.transparencymarketresearch.com/energy-management-systems-market.html

About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact
Transparency Market Research
State Tower
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Blog: http://www.tmrblog.com/

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