LED lights are widely used in variety of applications, which includes display and monitors, mobile devices, automotive lighting, signage, and others. According to Department of Energy (DOE), U.S., lighting accounts for about 20% of total commercial energy expenditure, in U.S. The International Energy Agency (IEA) has estimated that the global electricity spending for lighting can increase by 80% till 2030, if upgraded technologies are not implemented. The governments of progressive economies are supporting the adoption of LED lighting for the conservation of energy. With benefits, such as long life, energy efficiency, dimmable feature, better light quality, responsiveness, environment friendliness, and ability to operate in low temperatures, the demand of LED in commercial and industrial application is expected to witness a lucrative growth over the coming years.
Based on the various product types, the global industrial and commercial LED market can be bifurcated, as packaged LED market, LED lamp market, and LED luminaire market. The packaged LED market can be further categorized, as LED display, mobile devices, automotive, signage, lighting, and others. LED lamp market on the other hand can be segmented, as reflector, MR-16, Linear fluorescent tubes (LFT), A-19 and decorative, and others. The LED Luminaire market can be categorized, as retail display, outdoor, off-grid, commercial, industrial, and others.
Based on the various end users, the industrial and commercial LED market can be broadly categorized as industrial, commercial, outdoor, and architectural.
The decreasing prices of LED and the advancement in technology have increased its acceptability, across several applications. LED lighting, in its early phases was mostly adopted due to features such as better efficiency, improved operation in cold environments, and enhanced controllability. The current upsurge in their adoption is mostly due to increasing demand for energy efficient lighting solutions. The current payback period of LED light is still 3 to 4 years in most of the application; however it is expected to shorten up to 2–4 years in the coming years, which is expected to generate new opportunities across several applications, where high initial cost of LED lighting is a significant hindrance in its acceptance.
Among global regions, Asia-Pacific accounted for the fastest growing industrial and commercial LED market in 2014.The fast growth in this region is attributed to the government initiatives, and increasing consumer awareness. Among other countries, U.S. is the largest market for the industrial and commercial LED market globally. Germany, France, Italy, Spain, China, India, Japan, Brazil, UAE, South Korea, and Australia are other major regional markets for industrial and commercial LED.
The major competitors in the global industrial and commercial LED market are Digital Lumens, Inc., Osram Licht AG, Dialight plc, GE Lighting Solutions, Zumtobel AG, Koninklijke Philips Electronics N.V., Cree, Inc., Cooper Industries plc, and Toshiba Corporation.
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