The World Market for Light Sources: Lamps and LEDs, 2006–21

Jennifer Mapes-Christ and Andrew C Gross

Business Economics, 2015, vol. 50, issue 4, 219-227

Abstract: The global light source sector is experiencing fast growth in the current decade; market size is expected to reach the $78 billion mark in 2016 compared with $44 billion in 2011; but growth is likely to slow after that. Key factors in this field are energy conservation, affordability of more efficient lights, the quest for better light quality, and standards by agencies and associations. Regionally, Asia-Pacific is expected to assume a commanding lead with 53 percent of the global total by 2016 compared with North America at 17 percent and Western Europe at 14 percent. Fluorescent and incandescent lamps combined dominated with 71 percent as a share of world sales in 2011; they and light-emitting diodes (LEDs) are expected to each be at 42 percent of the total by 2016. Technological advances created less costly LEDs that now offer longer life, better light quality, and more flexibility. In terms of markets or end-uses, buildings are expected to capture about 75 percent of the total in 2016, with the remainder taken by outdoor applications, motor vehicles, and other manufactured goods. Three firms account for about 25 percent of market share globally: Philips Lighting, Osram, and General Electric. All of them pursue an aggressive research and management agenda; the first two are reorganizing. Battle for market share is bound to continue by companies around the globe. The standardized nature of sockets allows for flexibility by users and often leads to commodity type marketing. (This paper and the monograph on which it is based exclude both lighting fixtures and lighting control systems. For information on lighting fixtures, see The Freedonia Group [2012].)

Date: 2015
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