LED Lighting to reach 46% of Building Lamp Market by next decade
Pike Research says “LED lighting will reach an inflection point in the next five years,” but not before fluorescent lamps overtake the incandescents first
Electricity used for lighting in the US is accounts for as much as 17.5% with the majority of lighting energy being consumed in commercial buildings. Recent developments in LEDs for solid state lighting hold significant long-term potential for energy savings in the commercial building sector.
Pike Research, a market research and consultation firm which provides in-depth analysis of global clean technology markets says LED lighting will by 2020, achieve 46% penetration of the $4.4 billion U.S. market for lamps in the commercial, industrial, and outdoor stationary sectors.
Managing director Clint Wheelock commented, “LED lighting will reach an inflection point in the next five years”. “As solid state lighting costs come down and performance increases, LEDs will become a practical option for an increasing number of commercial applications.” Wheelock added that Pike Research anticipates that the traffic signals and exit sign markets will become saturated within the next few years’ leaving the outdoor stationary sector to be the next big growth area for LED lighting, followed by retail and office and institutional buildings.
However, Pike analysts have also indicated that there are still a number of technological and economic hurdles to overcome and so before the transition to LEDs, fluorescent T8 and T5 lamps, offering long life and reliability at reasonable prices, will overtake incandescents as the leading technology..
Pike Research’s study, “Energy Efficient Lighting for Commercial Markets”, analyses the key technology and market trends for the use of LED and other high-efficiency lighting in the Commercial, Industrial, and Outdoor Stationary markets.
The report includes a 10-year forecast for lamp and luminaire sales in the U.S. across 10 different lighting technology categories in seven major building types and application sectors and a summary of the assessment is available for free download on the firm’s website : www.pikeresearch.com