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World LED Lighting Markets (2013 Update)

  • December 2013
  • Frost & Sullivan
Report ID: 3008819

Summary

Table of Contents

Government Initiatives and Declining Prices are Driving the High Growth

Executive Summary

-The market for light emitting diodes (LEDs) has a high potential in the global general lighting market. Light management systems and colour control of LED light, which can affect the mood of the end users enabling a purpose-friendly ambience, will shape the market into a new sphere.
-Leasing and maintenance of lighting solutions and financing projects will help companies overcome reservation regarding the high initial investment that is required from end users.
-Providing technical know-how to end users, consultation from concept to implementation, and maintenance will be the key capabilities required to complete projects successfully.
-Strategic involvement in government initiated technical and market projects gives companies better brand visibility and recall among customers, architects, and installers.
-Standardisation of LED products will be the launch pad to commoditize solid state lighting (SSL) in the mass consumer market (residential segment).
-The uptake of SSL in the residential segment is expected to increase during the forecast period, as the payback period from LED products will continue to reduce.
-Outdoor and architectural applications are dominated by direct sales through tendering processes. The residential segment is dominated by retailers and wholesalers dominate the professional lighting market (office, hospitality, retail, and industrial).
-The global LED lighting market was worth $xx million in 2012 having grown at xx% compared to 2011.
-The high growth LED market is driven by government regulations and policies towards energy efficient lighting and declining prices of LED lighting products.
-The market is expected to grow at a compound annual growth rate (CAGR) of xx% between 2012 and 2017 due to growth in industrial, outdoor and residential applications.
-Globally, the price of GU10 60W equivalent LED lamps will decline by xx% during the forecast period and the trend is likely to be reflected on other LED lighting products as well. Decline in prices of packaged LEDs and their surplus supply in the market have influenced this downward pricing trend.
-Internationally, three lighting giants constitute the tier I in the competitive structure, accounting for % of the world’s LED lighting market.
-Asia-Pacific will retain the major share of market revenue throughout the forecast period.
-Large-scale construction activities in Gulf Cooperation Council (GCC) countries, increased infrastructure spending in some regions of Asia-Pacific, and major events in Latin America during the forecast period are the key geographic trends that are anticipated to drive the adoption of SSL.
-R&D spends are increasing, and marketing spend is stable.

CEO’s Perspective

Residential, outdoor and industrial applications will experience higher penetration amidst all end user applications.
Complete and integrated lighting solution providers will have a competitive edge in winning large scale projects.
Competition will intensify in the future due to Asian participants who are expanding globally. More mergers and acquisitions are anticipated.
Awareness campaigns and demonstration projects will help bridge the gap between companies and customers.
Emerging nations, GCC countries, Scandinavia, Benelux, Alpine States, and Germany will be hot spots.

Definitions

-The scope of the study includes LED lamps or light sources and luminaires and does not include packaged LED itself.
-The regions covered in this study are:
oNorth America (the United States and Canada)
oEurope (Western Europe, Central and Eastern Europe, Common Wealth of Independent States)
oAsia-Pacific (Asia, Australia, and New Zealand)
oThe Middle East and Africa
oLatin America (including Mexico)
-Pricing trends and forecasting is based on market prices.
-Revenue is measured in terms of manufacturers’ revenue excluding the time of shipment. Revenue does not include value-added services.
-Applications considered in the regions include only general lighting and do not include backlighting and automotive lighting. They applications considered are:
oArchitectural (decorative lighting indoor and outside buildings)
oHospitality (Example: hotels, restaurants, casinos)
oIndustrial (Example: manufacturing plants, warehouses)
oOffice
oOutdoor (street, road and infrastructure lighting)
oResidential
oRetail (shop lighting)
-Market share analysis has not been possible for MEA and LATAM, as these are highly fragmented.

Changes from 2012

Please note the following important changes from Frost & Sullivan’s World LED Lighting Markets (2012 Update) :
-In the 2012 study, the market scope was confined to LED light engines and LED systems, including fixtures containing power and thermal management systems, but excluding luminaires.
-In this 2013 study, the market scope has been expanded in line with the evolution of the LED lighting industry to better outline the broad range of growth opportunities across the industry.
-The scope of this study is broader than the 2012 scope and includes manufacturers’ revenue from the sale of LED light source, entire LED luminaires, and fixtures.
-Frost & Sullivan believes this new scope gives a better coverage of the global LED lighting industry while it grows and develops, but it is to be noted that this means market revenue cannot be directly compared between the 2012 study and this 2013 version.

Key Questions This Study Will Answer

Is the market growing and at what rate? What is the anticipated growth between 2013 and 2017?
What are the external forces that affect the growth of the market and how is their impact?
How is the global pricing trend of GU10 xx W equivalent LED lamp and what influences pricing?
What is the competitive structure in each region and what factors affect competition?
How does each application market perform in each region in the next five years and at what rate?
How are the distribution channels lined up and how do they react to customer sensitivity and economic condition?

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