Strategies Unlimited forecasts lamp market to peak at $21 billion in 2018
Mountain View, CA — Strategies Unlimited has now released its annual market research report, The Worldwide Market for Lamps, which covers the market for A, reflector, MR16, and tube lamps. This report foresees the overall market for these lamps peaking in 2018 at $21.2 Billion from $17.9 Billion today. By 2022, the market is expected to have shrunk to $16.0 Billion. The short term growth and following fall is due to the increased penetration of LED lamps into all applications. LED lamp revenues are expected to more than double from $7 Billion in 2014 to almost $15 Billion in 2019. Strategies Unlimited’s Research Director, Philip Smallwood states “While all LED lamp markets are forecasted to have a positive CAGR from 2014 through 2022, most will peak before the end of the decade as socket saturation from these long-lived products will decrease the overall global replacement lamp market.”
The Worldwide Market for Lamps offers unprecedented insight into the total lighting market through 2022 by covering all technologies, including incandescent, halogen CFL, fluorescent, and of course LED to get a better understanding of how LED lamps are poised to change the lighting landscape. Additionally, by creating the most detailed installed base model by region and major application on the market today, Strategies Unlimited is better able to truly understand the impact LED penetration is poised to have on the lighting market.
Government regulations are the factor that is having the largest impact on the lamp market today. The phasing out or banning of incandescent lamps is pushing the general population to actually make a choice about the technology that they use to illuminate their world. According to Smallwood “Without these regulations, I would find it difficult to believe that the advancements in LED lamps that we are seeing today would be taking place at such an accelerated pace. The technological feat of mimicking incandescent lamps almost perfectly is impressive, but the precipitous fall in price is astounding.”
The most important theme from this report is that companies must adapt to a changing landscape to survive. While the market for LED lamps is poised to see growth, the market for all other technologies is expected to have a -14% CAGR in the same time period. While there might be a short term gain for more efficient incumbent technologies (mainly CFL and halogen), in the long term, LED will eventually be crowned king.
About Strategies Unlimited
Strategies Unlimited, a division of PennWell Corporation, is the world leader in market research in LEDs and lighting, lasers and photonics devices, and beyond. With a unique blend of in-depth historical market knowledge and technological expertise, Strategies Unlimited produces highly detailed market reports, custom studies, and provides consulting services. Additionally, Strategies Unlimited presents industry events, including the Strategies in Light series and The LED Show, to large audiences worldwide. For additional information about Strategies Unlimited, contact Tim Carli or visit www.strategies-u.com.
About PennWell Corporation
Founded in 1910 in Tulsa, Oklahoma, PennWell Corporation is a privately held and highly diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power generation and delivery, hydropower, renewable energy, water and wastewater treatment, waste management, electronics, semiconductor manufacturing, optoelectronics, fiber-optics, aerospace and avionics, LEDs and lighting, fire and emergency services, public safety, and dental. PennWell publishes over 130 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, websites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; London, England; Houston, Texas; San Diego and Mountain View, California; Fairlawn, New Jersey; Moscow, Russia; and Hong Kong, China. For additional information about PennWell Corporation, visit www.pennwell.com.
Tim Carli, Sales Director - Strategies Unlimited
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