LED industrial lighting market to reach US$2.366 billion in 2015!
The LED industrial lighting market scale will be worth US$2.366 billion in 2015, and by 2018 will reach US$3.935 billion, according to findings from LEDinside.
Compared with home lighting products, industrial lighting products operate for longer periods, so switching to the energy-saving LED technology is more cost-effective. As a result, LED high and low bay 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 pricing. These improvements, together with industrial lighting products’ high profit margins, have made industrial applications the most competitive market for LED package and LED luminaire companies for the 2015-2016 period, the firm said.
Among different fixture types, LED high/low bay lighting products are the largest in terms of market share. This category is further subdivided into mining and general applications (or for use in warehouses, gyms, and other indoor settings), making LED high/low bay lights a major focus in the development of industrial lighting market.
LEDinside expects 80W-250W LED high/low bay light products will become the mainstream in the market as improvements are made to the LED technology and to thermal dissipation. Current 80W-250W LED high/low bay lights have around 10,000lm-30,000lm in terms of luminous flux as well as 275-300lx in terms of illuminance. Pricing strategies for high/low bay lights vary according to product lines and market regions as these products have yet to be standardized. China-based makers tend to have lower product prices and fewer product lines. Hence, prices in the China market are expected to only show minor price fluctuations, the firm added.
Leaders in LED industrial lighting include GE Lighting, Cree, and Cooper Lighting, as well as their Japan counterparts IWASAKI and Toshiba, and China LED maker Ocean’s King 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.by