High-bay LED luminaires to reach USD7bn by 2021
The report entitled ‘High-Bay Lighting’ concludes that the market for high-bay lighting in commercial buildings is undergoing a rapid shift from traditional, fluorescent luminaires and lamps to light-emitting diodes (LEDs). While fluorescent lights are expected to remain the best-selling technology for high-by applications over the next seven years, falling prices and rising efficacy of LEDs will create a tipping point for the large-scale adoption of LEDs in this segment.
“High-bay LED lights are still considerably more expensive than their non-LED counterparts, but payback periods have shrunk to the point where decision makers are choosing this lamp type based on cost savings and payback alone,” explained Jesse Foote, senior research analyst with Navigant Research. “The energy and cost savings of LEDs will make them the dominant technology for high-bay applications within the next 10 years.”
Sales of high-bay luminaires and lamps are not expected to rise and fall in parallel within every building segment, according to the report. The largest two building segments, warehouse and industrial buildings, will see negative compound annual growth rates for luminaire and lamp revenue of -0.8 percent and -0.9 percent, respectively, between 2013 and 2021. The declines will be due to the longer lifespans of LEDs, as well as the decreasing stock of the two building types in North America and Europe.
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