Energy Efficient Lighting Market
also provided vendors utility rebates, thereby boosting the use of energy-efficient lighting solutions. Several European countries have implemented Energy Performance Certificates, which require commercial spaces to adhere to energyefficient processes and requirements.
In contrast, high initial investments and undefined technology issues discourage numerous companies from making the switch to energy-efficient warehouse lighting.
Demand for LFLs to Decline as LEDs Gain Prominence
“ The global market for energy-efficient warehouse lighting will witness impressive growth in the coming years,” the TMR analyst predicts. Registering a strong CAGR of 13.4 % from 2016 to 2024, the opportunity in the market is projected to be worth over US $ 15 bn by the end of the forecast period, rising from US $ 4.2 bn in 2014.
Asia Pacific has led the energy-efficient warehouse lighting market at the start of the forecast period and will continue its streak through 2024, accounting for a share of over 45 % in terms of revenue. By lighting source, linear fluorescent lamps( LFLs) led the overall market in 2014. However, owing to the increasing popularity of and demand for light emitting diodes( LED), the dominance of LFLs is anticipated to be toppled by LEDs.
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This review is based on the findings of a TMR report titled“ Energy Efficient Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”
Energy Efficient Lighting Market: By Lighting Source-High-intensity Discharge Lamps( HID)-Linear Fluorescent Lamps( LFL)-Light Emitting Diodes( LED)-Other Lighting Sources
Energy Efficient Lighting Market: By Region-North America-U. S.
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