Published Date : Sep 12, 2016
Albany, NY, Sep 12, 2016: The market for LED lighting ballast is driven by the rising government support and funding on LED lighting projects. The rising need for energy-efficient lighting solutions is expected to further propel the demand for LED lighting across the globe. Strict regulations on using energy efficient lighting and the introduction of energy efficiency certification programs are anticipated to support the growth of the global market. Analysts also predict that the availability of infrastructure and the rising demand for LED lighting from upcoming events will additionally benefit the global LED lighting market. These are some of the findings of a new report added to the database of MarketResearchReports.biz.
The report, titled “Global LED Lighting Ballast Market 2016-2020,” states that the cost of manufacturing LEDs is declining at a significant rate in many regions. With this, the global LED lighting ballast market is expected to exhibit a 26.20% CAGR from 2016 to 2020. The research is focused on constant-voltage drivers and constant-current drivers. The report then regionally divides the global market into the Americas, EMEA, and APAC. Additionally, the study briefs readers about the difference between CFLs, LEDs, and incandescent bulbs.
The research also briefs readers about key factors expected to hamper and boost the global market throughout the forecast period. As per the findings of the report, the market will be primarily challenged by factors such as the absence of global LED standardization, high import duties, high average cost per LED fixture, and limited thermal tolerance of LED. Key companies are concentrating on adopting advanced technologies to introduce new LED lighting devices, with an aim to minimize the challenges.
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The report further highlights the changing trends in the global LED lighting ballast market. In recent years, there has been a sudden increase in urban population. The cost of manufacturing LED lighting is predicted to decline in the years to come. The demand for intelligent lighting systems is expected to increase. All these changing trends are predicted to propel the global LED lighting ballast market. The emergence of smart cities and the growing number of smart homes has further built-up the demand for LED lightings.
The global market is highly fragmented, yet a few companies are maintaining their dominance. Some of the prominent players listed in the report are Acuity Brands, Advanced Lighting Technologies, Atlas Lighting Products, Eaton, Crestron Electronics, GE Lighting, Hatch Transformers, Leviton Manufacturing, Lutron Electronics, MaxLite, Osram Sylvania, Philips Lighting Holding, Progress Lighting, and Technical Consumer Products. Key companies are aiming to acquire the startups entering the mainstream. With this, the new companies are predicted to enjoy new LED technologies. However, by acquiring new companies, key companies aim to maintain their dominance throughout the forecast period.
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