Lighting market study unravels correlation between color temperature and market growth
In the overall LED market by color temperature, the 5000K-6500K segment accounted for the largest market share followed by 2700K-3000K segment in 2010. In general lighting market, residential lighting has the highest share, accounting for more than 40 percent of the overall general lighting market.
The field of lighting has witnessed remarkable technology improvements in the past few years, especially in the area of compact fluorescent lamps (CFL) and solid state lighting. Incandescent bulbs are expected to reach obsolescence with the onset of CFL and LEDs. Lighting accounts for about 18% to 20% of total energy consumption globally; and about 27% to 30% of total energy consumed for domestic purposes. For this reason, experts see huge potentials for electricity and cost savings.
According to Transparent Market Research, LED lighting is enjoying robust growth because of its exceptional features that include high energy-efficiency, long operational life and robust weather resistant design. LED lighting applications are likely to see double-digit growth for the next few years with the highest market share in overall lighting market post 2020. On the contrary, growth of office and industrial applications of LED lighting will be slower due to the existing high penetration of cost-competitive CFLs and fluorescent lamps.
Compact fluorescent lamps (CFL) are about 70% more energy efficient than incandescent light bulbs. The advantages of CFL include improved light quality and longer operational life in comparison to incandescent lamps. Additionally, CFLs give healthier concentrated light than linear fluorescent and their sizes are just about one-fourth of the size of conventional fluorescent lamps. CFLs help fight global warming as their electricity consumption is appreciably lower than that of incandescent bulbs. Each CFL is expected to slash carbon dioxide emissions by about 1,300 lbs. over its lifetime. CFLs cost a little more up front, but still offer more savings than incandescent bulbs by using less electricity. Full spectrum fluorescent lighting may also benefit the immune system, and thus improve general health and well-being.
In overall lighting technology market, LED is the fastest growing market at a CAGR of 14.9% from 2011 to 2016, because of the increasing applications of LED lighting that includes residential lighting, decoration, signal indicators and display backlighting. The U.S. is expected to be the biggest market of LED in 2016; however Asian region will witness the highest growth rate at a CAGR of 16.6% from 2011 to 2016.In the overall LED market by Correlated Color Temperature (CCT), the 5000K – 6500K segment accounted for the largest market share at over 40% revenue share followed by 2700K – 3000K segment at around half of the revenue share as compared to the 5000K – 6000K segment in 2010. The 5000K-6500Kis also expected to be the fastest growing segment at a CAGR of 15.8% from 2011 to 2016.
According to the publisher, the objective of the study is to gain detailed market insights for key energy-efficient lighting technologies that include Light Emitting Diode (LED), Fluorescent and Compact Fluorescent Lamp (CFL). The market is analyzed on the basis of growth trends, ongoing developments, market penetration and revenue share.
More details can be found in the study "Global Energy-Efficient Lighting Technology Market by Correlated Color Temperature (CCT), Application and Geography (2011-2016)" (https://www.transparencymarketresearch.com/emerging-lighting-technology-market-by-color-temperature.html ) or at https://www.transparencymarketresearch.com/
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