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Architectural LED Products Market: Driven by Price Commoditization and Significant Growth in Enhanced Performance
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In terms of value, the global architectural LED products market is anticipated to expand at a CAGR of 17.9% during the period 2015-2021 to reach US$ 10,751.1 Mn by 2021. The global architectural LED products market was valued at US$ 3,421.2 Mn in 2014. In terms of volume, the global architectural LED products market accounted for 25.5 million units in 2014. National Government in countries such as the U.S., China, Thailand and Brazil have introduced regulations mandating LED bulbs and fixtures manufacturers to comply with minimum standards for lighting products efficiency. Additionally, a government in these regions have banned the adoption of incandescent lighting products with an aim to improve energy efficiency and reduce CO2 emissions. This has encouraged the construction companies to deploy LED lighting systems complying these regulations which in turn driving the growth of the architectural LED products market.
In terms of value, the conventional LED segment was valued at US$ 3,209.1 Mn in 2014 and is expected to create US$ 3,746.0 Mn by the end of 2015. Architecture LED fixtures such as LED strip & linear products and lamps are expected to drive the market growth of conventional products segment during the forecast period.
In terms of volume, the conventional products dominated the overall architectural LED products market and are anticipated to continue dominating the overall architectural LED products market by the end of 2021.
In terms of value, wall washing applications segment was valued at US$ 1,325.7 Mn in 2014 and is expected to reach US$ 1,557.1 Mn by the end of 2015. Wall washing application segment is projected to expand further as the demand for lighting systems used for illumination of large surfaces such as public cultural buildings, contemporary architecture and museums expected to grow in the foreseeable future. This segment is analyzed to expand at a CAGR of 18.5% during the forecast period. In terms of volume, the wall washing application segment is expected to dominate the overall architectural LED products market by the end of 2021, followed by cove lighting segment.
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On the basis of end user industry, commercial segment occupied 76.9% market share in 2014 and is expected to account for 77.3% of the total architectural LED products market by the end of 2015.
The report on the global architectural LED products market profiles some of the key players including Cooper Industries PLC (Eaton Corporation), Philips Lumileds Lighting Company, Osram Licht AG, Epistar Corporation, Cree, Inc., Verbatim Ltd., GE Lighting Solutions, Samsung Electronics Co., Ltd., Toshiba Lighting & Technology Corporation, and Galaxia Electronics Co. Ltd.
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