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
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