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Use of LED lamps in public transport reached $1.19 billion in 2014

Use of LED lamps in public transport reached $1.19 billion in 2014

March 12, 2015: According to Market Research Reports, the world use of LED-based lamps/devices in public transportation vehicles reached $1.19 billion in 2014.

The bus vehicle category, which includes Bus Rapid Transit (BRT) and coach (long-distance buses), led in relative market share of global consumption with 38.7% in relative market share. However, all of the rail-vehicle categories are forecast for (much) faster annual growth than the bus vehicle category.

The use of LED-based light/devices in public transit watercraft/ferries held a minor market share (0.3%) with $3.6 million in value last year; however, as use of watercraft/ferries continue to join a wider acceptance with transit authorities and the general public, funding for green-tech lighting/energy consumption will increase (long-term).

“Public transportation vehicles are incorporating energy efficient LED interior and exterior lighting, installed in new vehicles by the vehicle manufacturers, vehicle refurbishing projects, as well as on-site retrofitting and maintenance programs by the transit authorities. Both categories (exterior and interior) are forecast for steady growth,” said Stephen Montgomery, Director of the LED Lighting market research group at ElectroniCast Consultants.

“Public transportation projects are a major element to regional development throughout the world. New and renovated vehicles include numerous improvements, which enable more comfort and safety for the passengers and operators. LED lighting manufacturers and suppliers with understanding of this market segment are set to enjoy strong sales potential,” Montgomery added.

The LED lighting public transportation vehicles global market is segmented into the following vehicle (type) categories?bus, rail and rapid transit vehicles, light-rail, tram/trolley/streetcar, rapid transit/metro and subway/underground, high-speed, commuter/intercity and long-distance, ferries/watercraft. The market forecast is also segmented into the following product-type?LED linear lamps (tubes), LED-based backlight unit (BLU) bars for LCD display screens, LED signage/destination sign board modules, other/miscellaneous LED lamps and luminaries.

For further info: http://http://www.marketresearchreports.com/electronicast/led-lighting-public-transportation-vehicles-global-market-forecast-analysis

None of the facts and figures mentioned in the story have been created by BizLED.co.in. BizLED is not responsible for any factual errors.
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