LED lighting fixture market on a steep growth, reports CSIL
As the “Worldwide market” The report considers the aggregate of 66 monitored countries, selected by CSIL on the basis of size of the economy, importance of the lighting fixtures sector and contribution to World trade of lighting fixtures, plus an approximation of the market value in the other countries.
According to CSIL, the outdoor lighting fixtures market worldwide is worth around USD 20.4 billion, including around USD 10 billion of LED fixtures. Compared to 2010, the worldwide market for outdoor lighting fixtures registered a 33% growth in 2015 (6% yearly on average). 2015 registered a downturn, close to 3%. An average 5% growth is forecasted by CSIL for the coming five years.
Street lighting is the fastest growing segment. Specifically for outdoor lighting fixtures, the CSIL estimates a 51% share for LED outdoor lighting in 2015, to be compared with 17% in 2011. Growth rate was over 80% in 2011, 20% in 2014 and 12% in 2015.
Visit the Centre for Industrial Studies at https://lighting.csilmilano.com