Freedonia predicts US $25 billion in lighting market in 2016
According to a study by the US market research firm Freedonia, demand for lighting fixtures in the United States is expected to increase by 7.4% per year to reach $25.1 billion in 2016.
The commercialization of LED lighting has also had a major impact on the industry. LEDs have a longer life span and more energy efficiency, but currently only account for a small share of demand. It is expected that the demand for LED-based lighting fixtures will have a particularly strong growth by 2016, and the rapid advancement of LED light source technology will make them more energy efficient, brighter and more affordable. In addition, lighting fixture manufacturers are also developing devices designed specifically for LEDs to optimize their performance.
Lighting products include non-portable and portable devices, as well as separately sold parts and accessories. It is expected that by 2016, due to the rise of construction activities and the increase in vehicle demand, the demand for non-portable devices is expected to increase in the later period. It is expected that the demand for non-portable lamps will almost double between 2011 and 2016.
Looking at the major market segments, lighting products that reduce energy consumption will have the best growth prospects. This can be largely attributed to the demand for energy-efficient lighting products in the Energy Independence and Safety Act of 2007: restrictions on the sale of incandescent lamps. These regulations will work to promote the demand for fluorescent lamps, halogen lamps, high-intensity discharge lamps, and LED light sources.
The commercialization of LED lighting has also had a major impact on the industry. LEDs have a longer life span and more energy efficiency, but currently only account for a small share of demand. It is expected that the demand for LED-based lighting fixtures will have a particularly strong growth by 2016, and the rapid advancement of LED light source technology will make them more energy efficient, brighter and more affordable. In addition, lighting fixture manufacturers are also developing devices designed specifically for LEDs to optimize their performance.
Lighting products include non-portable and portable devices, as well as separately sold parts and accessories. It is expected that by 2016, due to the rise of construction activities and the increase in vehicle demand, the demand for non-portable devices is expected to increase in the later period. It is expected that the demand for non-portable lamps will almost double between 2011 and 2016.
Looking at the major market segments, lighting products that reduce energy consumption will have the best growth prospects. This can be largely attributed to the demand for energy-efficient lighting products in the Energy Independence and Safety Act of 2007: restrictions on the sale of incandescent lamps. These regulations will work to promote the demand for fluorescent lamps, halogen lamps, high-intensity discharge lamps, and LED light sources.
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