Jul 21 2014
The market for high-bay lighting in commercial buildings is undergoing a rapid shift from traditional, fluorescent luminaires and lamps to light-emitting diodes (LEDs).
While fluorescent lights are expected to remain the best-selling technology for high-by applications over the next 7 years, falling prices and rising efficacy of LEDs will create a tipping point for the large-scale adoption of LEDs in this segment. Click to tweet: According to a recent report from Navigant Research, worldwide revenue for LED luminaires and lamps in high-bay applications will grow from $2.6 billion in 2014 to $7 billion in 2021.
“High-bay LED lights are still considerably more expensive than their non-LED counterparts, but payback periods have shrunk to the point where decision makers are choosing this lamp type based on cost savings and payback alone,” says Jesse Foote, senior research analyst with Navigant Research. “The energy and cost savings of LEDs will make them the dominant technology for high-bay applications within the next 10 years.”
Sales of high-bay luminaires and lamps are not expected to rise and fall in parallel within every building segment, according to the report. The largest two building segments, warehouse and industrial buildings, will see negative compound annual growth rates for luminaire and lamp revenue of -0.8 percent and -0.9 percent, respectively, between 2013 and 2021. Those declines will be due to the longer lifespans of LEDs, as well as the decreasing stock of the two building types in North America and Europe.
The report, “High-Bay Lighting”, analyzes the global market for high-bay lighting in the following five building types: warehouse, industrial, gymnasium and indoor sporting facilities, high-bay retail, and transportation. It provides an analysis of the significant market drivers, trends, and opportunities associated with luminaires, lamps, and networked lighting controls in these high-bay applications. Global market forecasts for unit sales and revenue, segmented by lamp type, building type, and region, extend through 2021. The report also examines the major technology issues and trends related to high-bay lighting, and profiles the key industry players in this market.
Source: http://www.navigantresearch.com/