Global LED Lighting Ballast Market to Grow 26.2% by 2020 - Limited Thermal Tolerance of LED a Key Challenge - Research and Markets

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Sep 06, 2016, 11:10 ET

DUBLIN, September 6, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global LED Lighting Ballast Market 2016-2020" report to their offering.

The report forecasts the global LED lighting ballast market to grow at a CAGR of 26.2% during the period 2016-2020.

The declining manufacturing cost of LEDs will be a key trend for market growth. The manufacturing cost of LEDs have been declining since 2012 and will continue to decline during the forecast period. The decline is mainly due to the declining ASP of the chips and components used in the manufacturing process of the LED devices. The reduction in manufacturing cost of LEDs is leading to the decline in initial installation cost of LED lamps and fixtures. This is accelerating the installation of new LED lamps and fixtures across all the application segments.

According to the report, demand for energy efficient lighting solutions will be a key driver for market growth. Escalating energy cost and consumption has been compelling both governments and consumers to reduce energy consumption and employ power-saving lighting solutions. LEDs are technically efficient in terms of lighting and power consumption. LEDs limit power consumption more effectively than conventional incandescent bulbs. In addition to providing power-efficient lighting, LED bulbs are considerably more durable than incandescent bulbs, by up to thousands of hours. Also, flexible LED technology enables the effective use of lighting controls and thus, increases the potential for saving. This factor has encouraged consumers to deploy LED lighting in many sectors, resulting in wider adoption.

Further, the report states that one of the challenges for the market will be the high average cost of LED fixture.

Key vendors:

Acuity Brands
Advanced Lighting Technologies
Atlas Lighting Products
Eaton
Crestron Electronics
GE Lighting
Hatch Transformers
Leviton Manufacturing
Lutron Electronics
MaxLite
Osram Sylvania
Philips Lighting Holding
Progress Lighting
Technical Consumer Products
Universal Lighting Technologies
Venture Lighting International

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Technology landscape

PART 06: Market landscape

PART 07: Market size and forecast

PART 08: Analysis

PART 09: Geographical segmentation

PART 10: Market drivers

PART 11: Impact of drivers

PART 12: Market challenges

PART 13: Impact of drivers and challenges

PART 14: Market trends

PART 15: Vendor landscape

PART 16: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/7bx62w/global_led

Related Topics: Electricity , LED (Light Emitting Diodes)

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SOURCE Research and Markets