LED lighting ballast: Key market research findings
- The market’s regional presence is the strongest in APAC
- Demand for energy efficient lighting drives market growth
- Key vendors – Acuity Brands, Atlas Lighting Products, GE, Hatch, Leviton, and Philips
Our industry experts predict the global market for LED lighting ballasts to account for more than 354 million units by 2020. The rising need for energy efficient lighting solutions is the fundamental driving force behind the growth of this market. LEDs limit power consumption more effectively than conventional incandescent bulbs. In addition to providing energy efficient lighting, LED bulbs are considerably more durable than incandescent bulbs, by up to thousands of hours. Furthermore, flexible LED technology enables the effective use of lighting controls to increase the potential for saving. In 2015, APAC accounted for more than 50% of the overall market shares to become the dominant shareholder in the global LED lighting ballast market. The projected increase in the demand for LED lighting from the commercial sector will drive further growth in the LED lighting ballast market in APAC during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Electron ballast with embedded intelligence are taking over the market currently. Such integration offers lighting systems the ability to adapt to the changing space needs. The ballasts are networked via a low-voltage bus, which enables them to perform various functions such as automatic shut-off, daylight harvesting, demand response, and personal dimming control. As LEDs are integrated with sensors and controls, the demand for LED ballasts is increasing at a rapid pace especially in outdoor and industrial applications,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The introduction of energy efficiency certification programs is driving the demand for LED lighting ballasts. Several energy efficiency programs are being introduced to promote and encourage the widespread adoption of energy efficient lighting that can help save energy and reduce carbon footprint. Some of the energy certification programs are ENERGY STAR certification, DesignLights Consortium (DLC), and Lighting Design Lab certification. A rise in government regulations on energy efficient lighting solutions has led to the increased adoption of ENERGY STAR-certified products. The certification lays down certain guidelines for products such as minimum level of requirement for color quality, lifespan, energy efficiency, and optical output that must be met before lighting products can use their label.
The key vendors in the global LED lighting ballasts market include Acuity Brands, Atlas Lighting Products, GE, Hatch, Leviton, and Philips. Companies with better technical and financial resources can develop products that can make competitors’ products obsolete and non-competitive even before they are launched or able to recover R&D and commercialization costs. Therefore, to remain competitive in the market, vendors not only have to develop new technologies, but also have to keep ahead of emerging technologies that can have an impact on their product lines.
A more detailed analysis is available in the Technavio report, Global LED Lighting Ballast Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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