A recent report from market research firm Strategies Unlimited examined the LED lighting market and highlighted a few bright spots in the LED market: retail display lighting, outdoor area lighting and commercial and industrial lighting markets are expected to grow by 62%, 13% and 12%.
The report authors singled out refrigerated display lighting as an important part of the retail display market since it is increasingly used in emerging markets around the world where a new middle class and urbanization will drive demand.
Most notably in the US, national retail chain Target has deployed LED lighting in the refrigerated display cases in grocery departments in 500 stores with the help of GE Lighting solutions. The motion activated LED lighting units turn on when customers are in the vicinity. Target expects to cut its energy use by 60 percent with GE Lighting’s LED refrigerated display cases.
The commercial and industrial LED lighting segment was the largest LED in lighting segment in 2011. Strategies Unlimited forecast revenues to grow to $1.2 billion in 2016, following a CAGR of 13%. In the US market, this may be helped by the US Department of Energy “ban” on fluorescent T12 lamps covered in an earlier blog post.
For Further Reading or Viewing
LEDs Magazine, LED lighting market holds steady in 2012, http://ledsmagazine.com/features/9/9/8
GE Lighting Solutions, Target lights up with LEDs (video case study), http://www.ge.com/audio_video/ge/innovation/target_lights_up_with_leds.html
Clearlysapphire.com Blog, Deep Dive: LED Tubes Gain Traction, http://blog.clearlysapphire.com/?p=247
LEDs Magazine, Target supermarkets will install GE LED lighting in refrigerated cases, http://ledsmagazine.com/news/7/4/12