A new report from Navigant
Research examines the global market for energy efficient lighting in
commercial buildings, providing forecasts for lamp and luminaire unit
shipments and revenue, segmented by lamp type, construction type,
region, and building type, through 2028.
Changing building standards, corporate sustainability initiatives, and
rising energy costs are pushing commercial building owners to adopt
energy efficient technologies. Of these technologies, LED lighting is
often considered an easy opportunity because a lighting upgrade can be a
less expensive initial investment than upgrading the HVAC or building
management system. Click
to tweet: According to a new report from @NavigantRSRCH,
LED lamp revenue is projected to experience a 6.9% compound annual
growth rate between 2019 and 2028.
“The technology for LEDs has improved in quality and prices have
declined since LEDs first became available, making them more competitive
with other lighting technologies,” says Krystal Maxwell, senior research
analyst with Navigant Research. “The improved efficacy, efficiency, and
cheaper costs have driven adoption of LEDs in the commercial building
market globally.”
Since the previous iteration of this report was published in 2017, the
market has seen a continued upward trend toward LED upgrades in existing
buildings and LED lighting system installations in new construction.
According to the report, while LED lamp revenue is expected to increase
over the next 10 years, all other lighting technologies are expected to
see declines in revenue.
The report, Market
Data: Energy Efficient Lighting for Commercial Markets, analyzes
the global market for energy efficient lighting in commercial buildings.
The report briefly covers the market issues, including key drivers and
barriers of the energy efficient lighting market for commercial
buildings. Global market forecasts for lamp and luminaire unit shipments
and revenue, segmented by lamp type, construction type, region, and
building type, extend through 2028. The study covers seven lamp types
and eight building types, as well as luminaire and lamp unit shipments
for new construction and retrofits. An Executive Summary of the report
is available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Market Data: Energy Efficient Lighting for Commercial
Markets, is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market predictions
and expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies
used to create the report. Neither Navigant Research nor Navigant
undertakes any obligation to update any of the information contained in
this press release or the report.
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