Global LED Lighting Ballast Market 2016-2020
Overview of the global LED lighting ballast market
Market research analysts at Technavio have predicted that the global LED lighting ballast market will grow impressively during the forecast period and will post a CAGR of more than 26% by 2020. Lighting applications account for a considerable share of the global energy consumption. The escalating energy costs and consumption will compel both governments and consumers to reduce power consumption by employing energy-efficient lighting solutions. LED lights reduce energy consumption more effectively than the incandescent lamps and are also more durable than incandescent bulbs. Moreover, the implementation of flexible LED technology will enable the effective use of lighting controls, which will increase the potential for power saving. This will encourage more consumers to deploy LED lighting in many sectors, resulting in the augmented growth of the LED ballast market.
Several cities across the globe, especially in the developed countries, have started revamping their homes to smart homes, where the home network is always connected to consumer electronic devices and entertainment gadgets that interact with each other. The smart home market will grow significantly during the predicted period and will accelerate the installation of intelligent lighting systems including lamps and fixtures, which in turn, will accelerate the adoption of LED lamps and lighting ballasts for residential applications.
Competitive landscape and key vendors
The market is characterized by the presence of well-diversified international and regional vendors. As the international players are increasing their footprint in the market, the regional vendors are finding it difficult to compete with them in terms of quality, technology, and price. As a result of the increase in product/service extensions, innovations in technology, and M&As, the competitive environment in this market is likely to intensify in the coming years. The international players will grow inorganically during the forecast period by acquiring regional or local players. To retain their market share and to stay ahead of their competitors, LED lighting ballast manufacturers not only have to develop new technologies, but will also have to keep ahead of emerging technologies that can have an impact on their product lines.
The prominent vendors in the market are –
- Acuity Brands
- Advanced Lighting Technologies
- Atlas Lighting Products
- Crestron Electronics
- GE Lighting
- Hatch Transformers
- Leviton Manufacturing
- Lutron Electronics
- Osram Sylvania
- Philips Lighting Holding
- Progress Lighting
- Technical Consumer Products
- Universal Lighting Technologies (subsidiary of Panasonic Group)
- Venture Lighting International
Geographical segmentation and analysis of the LED lighting ballast market
This market study estimates that in terms of geography, APAC accounted for more than 50% of the total share of the market during 2015. The region is witnessing a rapid increase in the demand for general lighting from the residential segment. Also, the availability of low-cost labor and raw materials have resulted in the region attracting several international companies to establish their manufacturing units. APAC is also becoming a hub for industries such as retail, hospitality, and healthcare. This will increase the demand for lighting ballasts from the commercial segment as well.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global LED lighting ballast market?
- What are the key market trends impacting the growth of the global LED lighting ballast market?
- What are the challenges to market growth?
- Who are the key vendors in the global LED lighting ballast market?
- What are the market opportunities and threats faced by the vendors in the global LED lighting ballast market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global LED lighting ballast market?
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