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Industrial and Commercial LED Lighting Market (Industrial, Commercial, Architectural, and Outdoor) is expected to reach USD 86,087.9 Million Globally in 2019: Transparency Market Research

Industrial and Commercial LED Lighting Market (Industrial, Commercial, Architectural, and Outdoor) is expected to reach USD 86,087.9 Million Globally in 2019: Transparency Market Research

Resource: MarketWatch

Transparency Market Research recently published a report on global lighting industry market, "Industrial and Commercial LED Lighting (Industrial, Commercial, Architectural, and Outdoor) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019."

According to the research, the global industrial and commercial LED lighting market was worth USD 12,927.9 million in 2012 and is expected to reach USD 86,087.9 million by 2019, growing at 30.8% annually.

 

 Global industrial and commercial LED lighting market size and forecast by geography 2012

 

Europe was the largest market for industrial and commercial LED lighting market in 2012 which accounted for 33.1%. Growth in this region is primarily driven by government initiatives and projects. Use of LED lights in commercial segment is expected to grow robustly in emerging regions namely Asia Pacific and Middle East, which is expected to continue driving the market and maintain the leading position throughout the forecast period.

Various factors are driving the industrial and commercial LED lighting market, including high efficiency and durability of LED lights, government ban on incandescent lamps and attractive payback in terms of longer lifespan and enhanced performance.

Some factors are also inhibiting the market growth, such as dominance of fluorescent lamps and high initial cost of deploying LED lights. However, governments in European countries, such as Russia, Germany, Denmark and the U.K. are increasing their investments in efficient lighting technologies to lower overall operational cost while improving lighting quality.

On the other hand, LED light manufacturers are also continuously making new efforts to overcome the barriers to wider adoption of LED. A few major brands dominating the global market are Philips Electronics N.V., Osram Opto, Cree Incorporation, Cooper Industries Plc and GE lightings. Emerging companies that are able to develop cost effective and high performance products are competitive in market as well.

If you want to browse the Report with Full table of content, please click here:

http://www.transparencymarketresearch.com/industrial-commercial-led-lighting-market.html