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The market research organization recently released the "2012-2016 Global Industrial LED Lighting Market" report. Analysts predict that the global industrial LED lighting market will generate a compound annual growth rate of 49 in 2012-2016. The key factor for this growth is the market's rising demand for energy-efficient lighting, and also witnessed the government. And the public sector for the massive use of energy efficient LED lighting products. However, the limited heat resistance of LEDs also poses a challenge to the expanding market.
Today, the global industrial LED lighting market is dominated by several major suppliers, including Cooper Industries plc, Cree Inc., Dialightplc, Digital Lumens Inc., Emerson Electric Co., and Royal. Philips (KoninklijkePhilipsElectronicsN.V.)
In response to this report, one analyst pointed out that globally, with the implementation of means to control energy waste, LED lighting has been accepted by more fields. The world's multi-government governments have carried out street lighting renovation plans to replace the original halogen, incandescent and fluorescent lamps with LED street lights. Because of the large demand for lighting, floodlights are commonly used in stadiums, and today they are gradually being replaced by LED lighting systems. Therefore, the penetration of LEDs in light-emitting applications is considered to be the reason why the global industrial LED lighting market can have a large profit in the future.
According to the report, the key factor driving the market is the growing demand for energy efficient lighting worldwide. Concerns about non-renewable energy consumption, as well as minimizing energy consumption while meeting high-demand lighting, are contributing to the significant increase in LED demand.
In addition, the report also introduces advanced LED products that have a longer life than incandescent lamps. It also mentions that compact fluorescent lamps (energy-saving lamps) will become an obstacle to the replacement of incandescent lamps in LED lamps.