by Brianna Crandall — September 21, 2016 — The industry research experts at Technavio predict the global market for LED lighting ballasts will account for more than 354 million units by 2020. The rising need for energy-efficient lighting solutions is seen as the fundamental driving force behind the growth of this market.
Light-emitting diodes (LEDs) limit power consumption more effectively than conventional incandescent bulbs, thus providing energy-efficient lighting, and LED bulbs are considerably more durable than incandescent bulbs by up to thousands of hours, points out the report. Furthermore, flexible LED technology enables the effective use of lighting controls to increase the potential for saving.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
Sunil Kumar Singh, lead analyst, Hardware and Semiconductors, Technavio Research, commented:
Electron ballast[s] with embedded intelligence are taking over the market currently. Such integration offers lighting systems the ability to adapt to the changing space needs. The ballasts are networked via a low-voltage bus, which enables them to perform various functions such as automatic shut-off, daylight harvesting, demand response, and personal dimming control. As LEDs are integrated with sensors and controls, the demand for LED ballasts is increasing at a rapid pace, especially in outdoor and industrial applications.
Key geographic region
In 2015, the Asia-Pacific (APAC) region accounted for more than 50% of the overall market shares to become the dominant shareholder in the global LED lighting ballast market. The projected increase in the demand for LED lighting from the commercial sector will drive further growth in the LED lighting ballast market in APAC during the forecast period.
Key drivers
The introduction of energy efficiency certification programs is driving the demand for LED lighting ballasts. Several energy efficiency programs are being introduced to promote and encourage the widespread adoption of energy-efficient lighting that can help save energy and reduce an organization’s carbon footprint. Some of the energy certification programs are ENERGY STAR certification, DesignLights Consortium (DLC), and Lighting Design Lab certification.
A rise in government regulations on energy-efficient lighting solutions has led to the increased adoption of ENERGY STAR-certified products. The certification lays down certain guidelines for products such as a minimum level of requirement for color quality, lifespan, energy efficiency, and optical output that must be met before lighting products can use the label.
Key vendors
The key vendors in the global LED lighting ballasts market include Acuity Brands, Atlas Lighting Products, GE, Hatch, Leviton, and Philips. Companies with better technical and financial resources can develop products that can make competitors’ products obsolete and non-competitive even before they are launched or able to recover research and development (R&D) and commercialization costs. Therefore, to remain competitive in the market, vendors not only have to develop new technologies, but also have to keep ahead of emerging technologies that can have an impact on their product lines, points out the report.
A more detailed analysis is available in the Technavio report, Global LED Lighting Ballast Market 2016-2020. Technavio says it can customize reports by other regions and specific segments upon request.
