by Shane Henson — December 5, 2011—Light-emitting diodes (LEDs) are expected to dominate the commercial lighting market as more commercial building owners and facilities managers realize the energy and cost-saving benefits of using LEDs compared to incandescent and fluorescent lighting, according to a new report released by Pike Research, a cleantech market intelligence firm.
Through the report, Energy Efficient Lighting for Commercial Markets, Pike Research forecasts that LEDs share will reach 52% of the commercial lighting market by 2021 as LED lighting costs for various SSL products will be reduced by 80% to 90% in many cases during the next decade.
Pike Research forecasts that the global market for commercial lighting will reach $42 billion in 2011 and see a peak of nearly $54 billion in 2012 before gradually declining to about $30 billion by 2021. According to the company, the decline will be due to the extended lamp life of both fluorescents and LEDs as they become the primary lamp types, increasingly displacing demand for replacements for less efficient and shorter-lived incandescent lamps.
This Pike Research report also describes the key factors that are influencing the market for energy-efficient lighting around the world: trends in energy codes, rebate and subsidy programs, sustainability/green certifications, raw material supply issues, geopolitical influences in developing and developed nations, and more.
In addition, the report describes the influence of industry structure, key applications, and the many technology issues involved in the decision to specify various lighting technologies. Comprehensive unit and dollar forecasts are presented through 2021, segmented by application, lamp type/LED, luminaires, and geographic region.
