Global - Market Forecast of LED Lamps

According to ElectroniCast, the worldwide use of General Lighting LED lamps reached $23.6 billion in 2015.

Aptos, CA (USA) – 2016 -- ElectroniCast Consultants, a leading market research consultancy, today announced the release of a just-completed global market forecast and analysis of the consumption of Light Emitting Diode (LED) lamps in General Lighting applications.

According to the market study, the worldwide consumption value of specified LED lamps, which are used in General Lighting, was $23.6 billion last year in 2015.  ElectroniCast forecasts the value will increase at an average annual growth rate of 4.4 percent, reaching $30.6 billion in 2021.  Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.

The LED lamps covered in this study are used in luminaires in stationary/fixed locations (non-vehicle/non-portable) General Lighting applications. The lamps are used in new fixtures, as well as retrofitting/replacement of existing (installed-based) lamps. The definition for General Lighting is – lighting that is used to provide the main illumination of an area. The ElectroniCast definition of General Lighting also includes directional and supplementary lighting.

LEDs are used in both functional and decorative light fixtures, with an advantage of energy savings. Compared to incandescent lighting, LED-based solid-state lighting (SSL) delivers visible light with reduced heat. In addition, its solid-state nature provides for greater resistance to shock, vibration, and wear, thereby significantly increasing its lifespan.

The worldwide quantity (volume) of General Lighting LED Lamps reached 7.8 billion units in 2015.  “During the 2015-2021 timeline, we forecast that the quantity consumption will grow at an average annual rate of 23.1 percent and reaching 27.2 billion units in 2021,” said Stephen Montgomery, Principal Analyst- LED Group at ElectroniCast.

The market study breaks-out the forecast by eight major lamp types: Parabolic aluminized reflector (PAR), General Service (A-Type), Decorative, Multifaceted reflector (MR) Compatible, Tube and Strips/Tape, Street-lights, High-Bay, and other/ miscellaneous LED lighting.  The lamp categories, in turn, may have multiple sub-categories, which are determined by physical size and Watt equivalents of the lamp.