The ongoing shift to LEDs across most lighting product categories is producing a now familiar curve of rising sales as existing applications are converted to higher-cost, higher-efficiency solid state technologies, followed by a decline due to the combined effects of falling unit pricing and the longevity of solid-state luminaires. Predicting when sales will peak and at what level is a little dicey, but that’s the kind of forecast Navigant Research loves to produce.
In the group’s recent report on industrial and high-bay lighting categories, the firm forecasts a sales peak in 2017 at $23.5 billion worldwide, falling to $20.4 billion in 2024.
Industrial and high-bay lighting are prime applications for the advantages of LED lighting technology due to their difficult-to-reach installations in the high ceilings of warehouses, factories, sports arenas and other facilities, which makes low-maintenance fixtures extremely attractive. Navigant also points to the usefulness of sensors and communication networks built into the systems for facility managers.
Navigant’s report, “Industrial and High-Bay Lighting,” analyzes the global market for industrial and high-bay lighting in the following building types: warehouse, industrial, gymnasium and indoor sporting facilities, high-bay retail, and transportation. The study provides an analysis of the significant market drivers, trends, and opportunities associated with luminaires, lamps, and networked lighting controls in these applications. Global market forecasts for unit sales and revenue, segmented by lamp type, building type, industrial segment, and region, extend through 2024. The report also examines the major technology issues and trends related to high-bay lighting and profiles the key industry players in this market.