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SOURCE Research and Markets
DUBLIN, October 30, 2013 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/65p79w/global_led) have announced the addition of the "Global LED Industrial Lighting Market 2012-2016" report to their offering.
The analysts forecast the Global LED Industrial Lighting market to grow at a CAGR of 49 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for energy-efficient lighting. The Global LED Industrial Lighting market has also been witnessing an increased adoption of energy-efficient LED lighting by Governments and public sectors. However, limited thermal tolerance of LEDs could pose a challenge to the growth of this market.
The key vendors dominating the global LED Industrial Lighting market include Cooper Industries plc, Cree Inc., Dialight plc, Digital Lumens Inc., Emerson Electric Co., and Koninklijke Philips Electronics N.V.
Commenting on the report, an analyst from the Hardware team said: "Globally, measures taken to control the usage and wastage of power have resulted in the adoption of LEDs for spotlight applications. Governments across the world are planning to replace street lights (that use halogen, incandescent, or fluorescent lamps) with LED lamps. Spotlight applications are common in stadiums, where heavy lighting systems are used; this is nowadays being replaced with LED lighting systems. Thus, the penetration of LEDs in spotlight applications is expected to account for considerable revenue in the Global LED Industrial Lighting market during the forecast period."
According to the report, one of the key factors driving the market is the increasing demand for power-efficient lighting in industries worldwide. Increasing concerns over the depletion of non-renewable sources of power and the need to minimize power consumption with a high demand for lighting in general are driving the demand for LEDs.
Further, the report states that the introduction of advanced LED products that have relatively longer lifespans than incandescent bulbs and CFLs is hampering the aftermarket and replacement sales of LED lamps.
For more information visit http://www.researchandmarkets.com/research/65p79w/global_led
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