01 Feb 2016 09:02:12
Global Architectural LED Products Market is Expected to Progress US$ 10,751.1 Mn by 2021
The architectural LED products market globally has experienced a significant growth due to the surging demand for more efficient lighting, displays and fixtures in the residential and commercial places along with the rising awareness among people for energy conservation. The architectural LED products market is classified into products type, application type and end-user type. Construction of buildings involving energy conservation techniques for lighting; and retrofitting the existing buildings with energy efficient LED bulbs and lamps is boosting the demand for the architectural LED lighting fixtures globally.
In terms of value, the global architectural LED products market is anticipated to expand at a CAGR of 17.9% during the period 2015-2021 to reach US$ 10,751.1 Mn by 2021. The global architectural LED products market was valued at US$ 3,421.2 Mn in 2014. In terms of volume, the global architectural LED products market accounted for 25.5 million units in 2014. National Government in countries such as the U.S., China, Thailand and Brazil have introduced regulations mandating LED bulbs and fixtures manufacturers to comply with minimum standards for lighting products efficiency. Additionally, a government in these regions have banned the adoption of incandescent lighting products with an aim to improve energy efficiency and reduce CO2 emissions. This has encouraged the construction companies to deploy LED lighting systems complying these regulations which in turn driving the growth of the architectural LED products market.
In terms of value, the conventional LED segment was valued at US$ 3,209.1 Mn in 2014 and is expected to create US$ 3,746.0 Mn by the end of 2015. Architecture LED fixtures such as LED strip & linear products and lamps are expected to drive the market growth of conventional products segment during the forecast period.
In terms of volume, the conventional products dominated the overall architectural LED products market and are anticipated to continue dominating the overall architectural LED products market by the end of 2021.
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In terms of value, wall washing applications segment was valued at US$ 1,325.7 Mn in 2014 and is expected to reach US$ 1,557.1 Mn by the end of 2015. Wall washing application segment is projected to expand further as the demand for lighting systems used for illumination of large surfaces such as public cultural buildings, contemporary architecture and museums expected to grow in the foreseeable future. This segment is analyzed to expand at a CAGR of 18.5% during the forecast period. In terms of volume, the wall washing application segment is expected to dominate the overall architectural LED products market by the end of 2021, followed by cove lighting segment.
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On the basis of end user industry, commercial segment occupied 76.9% market share in 2014 and is expected to account for 77.3% of the total architectural LED products market by the end of 2015.
The report on the global architectural LED products market profiles some of the key players including Cooper Industries PLC (Eaton Corporation), Philips Lumileds Lighting Company, Osram Lict AG, Epistar Corporation, Cree, Inc., Verbatim Ltd., GE Lighting Solutions, Samsung Electronics Co., Ltd., Toshiba Lighting & Technology Corporation, and Galaxia Electronics Co. Ltd.
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