Global LED Lighting Ballast Market 2016-2020
About LED Lamps
LED lamps and luminaires use external ballasts, which are broadly categorized into two main types of external LED drivers:
Technavio Announces the Publication of its Research Report – Global LED Lighting Ballast Market 2016-2020
Technavio recognizes the following companies as the key players in the global LED lighting ballast market: 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, and Venture Lighting International.
Commenting on the report, an analyst from Technavio’s team said: “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. Though the total cost of owning LED lamps and fixtures is low compared with traditional incandescent and halogen bulbs, the high initial cost acts as a hindrance for consumers. The total cost of installation includes cost of LED luminaires and labor cost. Also, if the consumer installs smart lighting fixtures, they have to spend additional money on the internet of things (IoT) infrastructure. The price of smart bulbs also varies by the type of manufacturers. The price of products from major smart LED bulb manufacturers varies from $15 to $180.
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, and Venture Lighting International.
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