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Global Lighting Market in the Hospitality Sector 2016-2020

  • Published: Sep 2016
  • Pages: 65
  • SKU: IRTNTR10382
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This market research study analyzes the leading vendors in the global lighting market for the hospitality sector such as Cree, General Electric, OSRAM, and Philips Lighting holding. A competitive analysis of this market is also presented by lighting technology (CFL, LFL, HID, and LED), by product type (luminaires and lamps), and by geography (the Americas, APAC, and EMEA).

Outlook of the lighting market in the hospitality sector

Market research analysts at Technavio have predicted that the global lighting market in the hospitality sector will show tremendous growth and will post an impressive CAGR of over 7% over the forecast period. With the introduction of several energy-efficient certification programs to promote and encourage the widespread adoption of energy-efficient lighting products, the lighting market in the hospitality sector will have a positive outlook in the coming years. To save energy and reduce carbon footprint, governments of many countries have introduced energy certification programs, such as the ENERGY STAR certification, DLC, and Lighting Design Lab certification. These certifications define guidelines for products including a minimum level of requirement for color quality, lifespan, energy efficiency, and optical output that must be met before lighting products can be used. For instance, in the US, the ENERGY STAR label is also shown on the EnergyGuide appliance label for qualifying products. ENERGY STAR-certified LED products consume 75% less energy than incandescent light bulbs, leading to increased adoption among consumers.

In terms of geography, the APAC region led the global lighting market in the hospitality sector and accounted for more than 55% of the total market shares. The growth of this market is attributed to the rapid urbanization and development of the hospitality sector in the region. Investments in the hospitality sector in APAC is driven by an upsurge in domestic and international tourism; for instance, during 2015, the local tourism in China grew by more than 10% with the expansions of numerous international hotel brands and the upgradation of tourist spots. Most hotels, restaurants, and bars are designed to be visually appealing to the customers, and lighting of the place plays a significant part in it. Moreover, the Summer Olympic games of 2020 is scheduled to be held in Tokyo, Japan, and Winter Olympic games of 2018 is expected to be held in Pyeongchang, South Korea. These events are expected to attract a lot of tourists in APAC, which will, in turn, drive the demand for energy-efficient lighting technologies in the hospitality sector over the next four years.

Competitive landscape and key vendors

The global lighting market in the hospitality sector is characterized by the presence of well-diversified international and regional vendors. With the international players increasing their market presence, the regional vendors are finding it increasingly difficult to compete with them in terms of technology, quality, and price. The competitive environment is anticipated to intensify with an increase in product/service extensions, innovations in technology, and M& activities. By acquiring regional or local players, international players are expected to grow inorganically during the forecast period.

Key vendors in this market are -

  • Cree
  • GE
  • OSRAM
  • Philips Lighting Holding

Segmentation by lighting technology and analysis of the lighting market in the hospitality sector

  • CFL
  • LFL
  • HID
  • LED

During 2015, the CFL lamps segment dominated the global lighting market in the hospitality industry in terms of unit shipment and accounted for nearly 49% of the total market shares. CFL lights have a compact design and are available in three in basic types - stick-type, spiral-type, and bulb-type. It comprises of a glass tube filled with gas along with a small amount of mercury. These lamps are more durable compared to other traditional lights and use 75% less energy than the incandescent bulbs.

Segmentation by product type and analysis of the lighting market in the hospitality sector

  • Luminaires
  • Lamps

In terms of unit shipment, the lamps segment led the global lighting market in the hospitality sector by accounting for close to 60% of the total market shares. Most of the lamps are installed in guest rooms, common rooms, staff rooms in the hospitality sector as these areas require low intensity warm white lights. Moreover, since upgrading to lamps is less expensive compared to luminaire upgrade, most end-users will prefer using lamps for their applications.

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 lighting market in the hospitality sector?
  • What are the key market trends impacting the growth of the global lighting market in the hospitality sector?
  • What are the challenges to market growth?
  • Who are the key vendors in the global lighting market in the hospitality sector?
  • What are the market opportunities and threats faced by the vendors in the global lighting market in the hospitality sector?
  • 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 lighting market in the hospitality sector?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Base year
  • Market coverage
  • Market size calculation
  • Definition of general lighting applications
  • Other definitions
  • Geographical segmentation
  • Vendor segmentation
  • Common currency conversion rates

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Technology landscape

  • Comparison between LEDs, incandescent bulbs, and CFLs

PART 06: Market landscape

  • Market overview

PART 07: Market size and forecast

  • Five forces analysis

PART 08: Market segmentation  by lighting technology

PART 09: Market segmentation by product type

PART 10: Geographical segmentation

  • APAC
  • Americas
  • EMEA

PART 11: Market drivers

  • Incentive programs on installation of energy-efficient lighting sources
  • Increased focus on reduction of carbon footprint
  • Rise in power prices
  • Introduction of several energy-efficient certification programs
  • Minamata Convention on Mercury

PART 12: Impact of drivers

PART 13: Market challenges

  • Absence of global LED standardization
  • Higher import duties
  • High average cost per LED fixture
  • Limited thermal tolerance of LEDs

PART 14: Impact of drivers and challenges

PART 15: Market trends

  • Declining manufacturing cost of LED
  • Ban on use of energy-inefficient lighting sources and components
  • Demand for intelligent lighting systems
  • Rapid urbanization

PART 16: Vendor landscape

  • Competitive scenario

PART 17: Appendix

  • List of abbreviations

PART 18: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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