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Lighting Market Reports: Latest Lighting Industry Trends & Statistics

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Global Lighting Industry

The global lighting electrical equipment manufacturing industry (part of the electronics industry) serves a range of sectors, including commercial, industrial, residential and outdoor lighting. The industry manufactures lighting components such as tubes, fittings, and fixtures, standard light bulbs, spotlights, ultra-violet lamps, infra-red lamps, and flashlights. It also manufactures neon signs and electric signs.

Electric Lighting Market

Rising personal income and recovery in the automotive industry are among the factors fuelling lighting market growth. Light-emitting diode (LED) and compact fluorescent lamp (CFL) costs are forecast to decline, leading to lower electric lighting prices. Demand for these products will encroach on demand for other types of lighting, impacting negatively on profit.

The structures market, encompassing residential and nonresidential lighting as well as street lighting, represents over 70% of all electric lighting product sales. Demand for electric lighting for motor vehicles and manufactured goods represents a smaller market segment but is likely to grow at a faster rate due to the automotive industry recovery.

In the global lighting fixtures market, factors fuelling demand include greater levels of motor vehicle manufacturing and more residential building construction. Demand on the Chinese market represents almost 35% of overall demand. The most dynamic market segment is vehicular fixtures, expected to see the fastest growth.

Key Lighting Market Sub-Segments

According to Freedonia, CFL and LED lighting are expected to show the fastest growth. LED market growth is being fuelled by technological advances and cost reduction. CFL, which will grow at a faster rate, is being used to replace incandescent lamps. 

The UV LED market is forecast to reach $100 million in 2016, representing 30% yearly growth, according to Yole Development. Around 90% of the market is composed of counterfeit detection, UV curing, and applications, such as medical, that require UV A/B sources. The main applications for UVC LEDs are scientific instrumentation and research and development. 

The global organic light emitting diode (OLED) lighting market is expected to be worth almost $8.5 billion in 2020, according to GBI Research, growing at an annual rate of over 90% from under $13 million in 2010. The main use for OLED lighting is display lighting, such as mobile phones, computer monitors, and televisions.

 

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