Energy Efficient Lighting Market
REPORT DESCRIPTION
Energy Efficient Lighting Market - Global Industry Analysis , Size , Share , Growth Trends , And Forecast 2016 - 2024
The top three players in the global energy-efficient warehouse lighting market , namely Philips Lighting Holding B . V ., Eaton , and General Electric Company , accounted for nearly 83 % of the overall market in 2015 , with Philips and Eaton holding an almost similar percentage of shares . Despite this , the presence of numerous small-sized local players , especially in China , has been giving large , international vendors stiff competition , Transparency Market Research ( TMR ) has found .
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“ Smart lighting technology has emerged as a leading opportunity for companies in the energy-efficient warehouse lighting market ,” the author of the study states . Smart lighting has the ability to reduce overall energy consumption , which is making it an attractive investment for warehouse owners . As end users become informed about the benefits of automated smart lighting systems , together with modern CFL , LED , and OLED lamps , their sales are expected to rise .
Increased R & D activities and partnerships for the development of advanced and energy-efficient lighting systems is also a key strategy adopted by several players . A case in point would be Philips . In February 2016 , Koninklijke Philips N . V . separated its lighting business to establish Philips Lighting Holding B . V . This has allowed the company to sharpen its strategic focus toward its core competent business . Later in June 2016 , this new business joined hands with Netherlandsbased Dummen Orange to conduct R & D activities in the LED segment .
Government Mandates Support Use of Energy-efficient Warehouse Lighting
“ The demand for energy-efficient warehouse lighting has received significant impetus from companies looking to reduce their energy consumption in warehouses ,” a TMR analyst states . Compared to traditional incandescent lighting systems , advanced and smart lighting solutions such as LED and CFL help companies conserve energy and save on costs . The demand for energy-efficient warehouse lighting has risen with their growing usage in refrigeration , lighting , cooling and ventilation , material handling , and others applications in warehouses .
The energy-efficient warehouse lighting market has also been supported by favorable government regulations around the world . For instance , the U . S . government has banned the use of incandescent lighting in warehouse spaces . It has
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