Global Industrial and Commercial Led Lighting Market to Be Propelled by Government Prohibition on the Use of Incandescent Lamps

Government bans on the use of incandescent lamps have played a key role in fuelling the global market for industrial and commercial LED lighting. The growing popularity of LED lights can be attributed to their durability and high energy efficiency. Attractive financial savings for the consumer due to their use is another factor that drives the global industrial and commercial LED lighting market.

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In 2012, the global industrial and commercial LED lighting market was valued at US$12927.9 million and by 2019 is anticipated to reach a market value of US$86087.9 million, thereby registering a CAGR of 30.8% between 2013 and 2019. LEDs (light emitting diodes) refer to semiconductor source of light and are generally used in place of regular incandescent lamps, which tend to be inefficient and have a shorter lifespan.

Energy-efficiency of LED Lighting Major Factor Driving Demand from Global Market

There are several reasons why the global industrial and commercial LED lighting market is expanding so rapidly. LEDs are generally smaller in size, consume less power, and are also longer lasting than conventional lighting options.

LED lights exhibit higher levels of brightness than conventional types of lamps, which, apart from being unreliable, have shorter life spans than LEDs due to their energy-intensive nature and the heat generated during their operation. High reliability is also a key factor that stimulates the demand for LED lamps. Since LED lamps do not release any toxic or harmful gases, they are considered friendlier to the environment than conventional lighting systems. Owing to their economical nature, LED lamps help bring down the maintenance and operating costs of a household considerably over a period of time.

Commercial Lighting Segment: A Key Market Driver

The global industrial...