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LED luminaires outshine lamps in 2015 global lighting market

LED luminaires outshine lamps in 2015 global lighting market

By BizLED Bureau

Aug 25, 2016: The global sales of lighting equipment increased by 4.6% in 2015, slightly lower as compared to 4.8% in 2014, according to a report by IHS Markit.. As consumers opt for LED technologies that offer longer lifespan as compared to traditional technologies, fewer replacement lamps are necessary, leading to lower shipment levels. As prices for LED lamps drop, manufacturer revenue is also likely to fall in 2019, according to IHS analyst.

Significant findings

Furthermore, the analyst said that behind the growth rate of 2015 as a whole, there are two diverse and interlinked points. First and foremost, lamp market revenue increased by  4.0% in 2015, which was lesser than that sector’s 7.3% profit growth in 2014, however above earlier longer-term IHS Markit revenue forecasts through 2023. As the lamp market continues to change to LED, there are two effects uniting to mute prospective revenue growth: a decline in lamp shipments as a whole, and price cut of LED lamps, IHS noted.

LED luminaires outshine lamps in 2015 global lighting market

Secondly, luminaire revenue increased by 4.8% in 2015, which was higher as compared to 3.9% growth noted in 2014. Distinct from the lamp market, luminaire revenue growth is likely to continue over the forecast period. This expansion comes from LED integrated and LED replacement luminaires, which will see sustained growth in both revenue and shipments till 2023, the analyst added.

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Additionally, new worldwide and local market statistics, forecasts and market share estimations were made by IHS Markit which include

  • LED lamps and luminaires accounted for only 7.8% of unit shipments, but made up 28.6% of revenue in 2015. LED lamps and luminaires are likely to comprise over half of all lighting market revenue by 2019
  • China is approximated to have been the chief regional market for lighting equipment, consisting of nearly 30% of the global market in 2015
  • Unlike the lamp market, the supply base for LED luminaires became more consolidated. The top 10 vendors accounted for 33.5% of the market in 2015, up from 29.6% in 2014
  • The supply base for both non-LED and LED lamps became more fragmented in 2015, with the top 10 vendors falling from 54.8% to 41.4% of the market for non-LED lamps, and falling from 55.1% to 50.2% of the market for LED lamps
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