Acceptance of light emitting diodes (LEDs) over less efficient incandescent lamps, along with
a rebound in building construction and motor vehicle production, will fuel lighting fixture gains.
US demand to grow 7.5%
annually through 2016
US demand for lighting fixtures will grow
7.5 percent annually to $25.3 billion in
2016, recovering from the declines of the
2006-2011 period. An expected rebound
in building construction activity and a
stronger outlook for motor vehicle production
will be important drivers for the
lighting fixture market. Demand will also
benefit from the greater use of lighting
fixtures that are specifically designed for
energy-efficient light sources such as
light emitting diodes (LEDs).
Consumer acceptance,
regulatory efforts to
benefit LED lighting use
The commercialization of LED lighting
will continue to have a significant impact
on the industry. LEDs are longer-lived
and more energy efficient than incandescent
lamps, but fixtures designed for use
with LEDs currently account for less than
10 percent of lighting fixture demand. In
part, this reflects efforts by producers of
LED light sources to ease consumer
acceptance by developing LED lamps
that fit into traditional incandescent
fixtures. However, greater consumer acceptance
of LED lighting and regulatory
efforts such as the efficiency standard
set by the Energy Independence and
Security Act of 2007 will spur greater
usage of LED light sources. In turn, this
growing LED use will naturally support
efforts by lighting producers to develop
fixtures designed specifically for LEDs.
In addition, technological advances to
increase the efficiency, brightness, and
affordability of LED light sources, will
support strong demand growth for LED
light fixtures in every major market.
Construction applications
largest, fastest growing
Construction applications account for the
majority of lighting fixture demand and
through 2016 are expected to exhibit the
most rapid growth of any major market.
Lighting fixtures are widely utilized in
residential and nonresidential buildings,
as well as in nonbuilding settings such
as roadways, marinas, docks, and
quarries. The residential market is forecast
to register the strongest gains in
percentage terms, driven by the rebound
in housing construction from a low 2011
base. In addition, the increase in home
sales and rising concerns about energy
efficiency will spur residential improvement
and repair demand for lighting
fixtures. The large nonresidential market
for lighting fixtures will also experience
strong growth through 2016. While not
as fast in percentage terms, the large
size of the nonresidential market means
that this segment will provide the best
overall opportunities.
In addition to construction applications,
lighting fixtures are used in vehicles and
machinery as well as in consumer and
commercial settings. Gains in the vehicle
and machinery market will be supported
by a rebound in motor vehicle production
and strength in shipments of aerospace
and other transportation equipment.
Study Scope
This study analyzes the $17.6 billion US lighting fixture industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by type (e.g., vehicular, outdoor, industrial, portable), market (e.g., construction, vehicles and machinery, consumer and commercial) and geographic region.
The study also considers market environment factors, details industry structure, evaluates company market share and profiles 38 industry players, including Acuity Brands, Royal Philips Electronics and Cooper Industries.
