( PR4US.com | Press Release | 2017-06-08 09:34:16 )
Outdoor & traffic lighting applications are major adopters of the LED lighting, which is pushing the LED driver market growth for lighting at a CAGR of 26.3% predicted between 2016 and 2022 according to the latest research.
Growing adoption of LED lighting in general lighting applications, increasing demand for energy-efficient lighting systems, integration of IoT and lighting, and acceptance of standard protocols for lighting control are driving the growth of this market. The base year considered for this report is 2015, and the forecast period for the market has been considered for the period between 2016 and 2022.
This report covers the major segments of the market, namely, driving method (constant current LED driver and constant voltage LED driver), luminaire type (A-type, T-lamps, reflectors, decorative lamps, integral LED modules), end-user application (commercial lighting, industrial lighting, residential lighting, outdoor & traffic lighting and others), and geography.
Browse 75 market data Tables and 66 Figures spread through 153 Pages and in-depth TOC on "Led Driver Market for Lighting - Global Forecast to 2022"
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Residential lighting is expected to lead the LED driver market for lighting end-user applications
Increasing demand for LED lighting by households for improving the energy consumption is driving the growth of the LED driver market for lighting in the residential sector. Outdoor & traffic has been one of the early adopters of LEDs; due to the huge electricity savings, they bring with respect to the investment.
Outdoor & traffic lighting include roadway lighting, street lights, highway and tunnel lighting, and so on. The recent push by emerging economies such as India and China toward energy efficiency is the key factor for the growth of the LED driver market for outdoor & traffic lighting.
Constant current LED drivers are expected to be the dominant LED driver by driving method during the forecasted period. The reason for the dominance of constant current LED drivers over constant voltage LED drivers is because they avoid violating the maximum current specified for the LEDs, therefore, avoiding burnout/thermal runaway.
The LED driver market for integral LED modules is expected to exhibit high growth during the forecast period
Integral LED modules have a single or a string of LED source which are integrated with the LED driver. The integral LED modules are being accepted as the most energy-efficient mode of lighting due to their relative ease of installation since they are pre-integrated with LED drivers.
Most of the new installations of LED lighting systems are based on LED modules. LED modules can be used for a wide ranging applications covering residential, commercial, and outdoor & traffic lighting. The reason being LED lighting systems have a higher shelf life compared to traditional incandescent lights and also it’s highly cost-effective in the long term.
As local authorities all over the world are trying to reduce the energy consumption for economic and environmental purposes, LED lighting is slowly becoming their real choice. High penetration of LED in lighting applications such as office complexes, retail outlets, street lights, and rapidly growing usage within the residential lighting applications for households due to increased focus on energy-efficient lighting are the major drivers for growth of the market.
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The market in the APAC region is expected to grow at the highest rate during the forecast period
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 because of the increasing penetration in the highly populated emerging economies such as India and China. The government and regulatory bodies in these countries have been encouraging the usage of LEDs for lighting to reduce the greenhouse emissions and also reduce overall energy bills.
Furthermore, there are many countries within Asia-Pacific which are still seeing rapid urbanization; hence, the overall growth and demand for infrastructure is higher compared to Europe and North America. Since the global initiatives for carbon reductions depend largely on the regions, countries in the Asia-Pacific region have started bringing in regulations to increase the usage of LED lighting which is giving a major flip to growth of the market for LED lighting and consequently of the LED driver market for lighting.
The key players in the market are Osram GmbH (Germany), Harvard Engineering (U.K.), Texas Instruments, Inc. (U.S.), Maxim Integrated, Inc. (U.S.), Macroblock, Inc. (Taiwan), Atmel Corp. (U.S.), General Electric (U.S.), Cree, Inc. (U.S.), and Rohm Semiconductors (Japan).
The report analyzes the market trends for each of the segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter’s five forces analysis, value chain analysis with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the growth of the LED drive market for lighting.
Europe held the second-largest share of the LED driver market for lighting in 2015, while the market in APAC is expected to be the largest as well as is estimated to grow at the highest CAGR during the forecast period. This growth of the market in APAC can be attributed to the greater demand for energy saving lighting systems and a growing population. The LED driver market for lighting in APAC is at the developing stage and the ongoing development in this region makes it a lucrative and high-potential market.
The report also provides a qualitative and quantitative description of the verticals considered for the market. It also gives a detailed view of the market across four geographic regions: North America, Europe, APAC, and RoW. The APAC is the largest market and also has been identified to grow at the highest rate, globally.
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