Led Professional Lighting Markets to See Explosive Growth in 2016

According to 2016 Global LED Lighting Market Trends Report that the scale of the LED lighting market is growing steadily . The penetration rate of LED lighting is also projected to climb from 31% in 2015 to 36% in 2016.

Sharp price declines have severely impacted the margins of replacement products such as LED light bulbs and light tubes. Consequently, lighting companies begin to shift their focus to professional lighting markets and hope that increases in government spending, especially in new public projects, will create new opportunities. Sectors with tremendous growth potentials include industrial lighting, commercial lighting and architectural lighting.

Lighting companies have focused on professional lighting solutions in developed markets such as the U.S., Europe and Japan. They seek to capture certain market segments via product diversification and differentiation. In the emerging markets, rapid economic growth, favorable government policies, and mega urban projects are constantly generating new opportunities.

Demand has been relatively strong in the U.S. lighting market this year, with growth residing in applications such as commercial/industrial lighting, horticultural lighting and marine lighting. Major U.S. lighting companies are proactively developing various LED lighting businesses and giving a greater share of their portfolios to LED lighting products. Demand growth for LED lighting products has been strong in the commercial/industrial applications, with the fastest growth found in troffers, panel lights, tunnel lights and high/low bay lights.