The report titled “Philippines LED Lights Market Outlook to 2021 – Government Efforts to Induce LED Penetration and Optimization of Electricity to Develop Future Growth” covers market size on the basis of revenue, market segmentation by type of LED, usage, type of luminaire, type of lamps, distribution channel and by region. The report also includes the government initiatives and regulations in LED lights market, competitive landscape and company profiles for major players in the LED lights market. The report provides detailed overview on the general features of LED lights in the country and future outlook & projections with future strategies of the players in the market.
The report facilitate the readers with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry and has anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for LED lights assemblers, manufacturers, commercial, industrial, government and residential customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.
LED lights market in the Philippines has displayed a tremendous increase at a CAGR of ~%. The market is still in an infancy stage in the country. The growth showcased was led by higher demand from the commercial and industrial end users for LED lights. The energy saving feature of LED lights has lured these entities to adopt the technology. Lack of awareness among the people led to a lower penetration of the technology in residential sector. Moreover, the programs initiated by the government to LED streetlight retrofit, traffic lighting retrofit, public lighting retrofit and others during this period has gained a significant traction for the LED technology in the country.
Market Segmentation of Philippines LED Lights Market
In terms of revenue generation, Luminaires has dominated the market, with a share of ~% to the total revenues of Philippines Led Lights market during 2016 followed by Lamps that held a share of ~% in the revenue.
The type of luminaire that dominated the Philippines LED market is panel light that accounted for a share of ~% in the overall Led lighting market in the country in 2016. Panel Light was followed by downlight, spot light and directional lights.
LED reflectors dominated the market from the LED lamps segment. It held a share of ~% as of 2016. It was followed by LED tubes and other lamps that accounted for ~% and ~% respectively during the same year.
In 2016, the usage of LED lights in the outdoor area held a share of ~% in the overall revenue of LED lights market in the Philippines. The use of LED lights in the indoor space is not yet widely accepted in the country due to which it held a share of ~% in the overall revenue of the market during 2016.
In terms of revenue generation, project sales dominated the market with a share of ~% in the overall revenue of the market in 2016. Majority of the outdoor and indoor lighting needs are met through project sales. Project sales are followed by the exclusive agency and retailers with a share of ~% and ~% respectively during 2016.
In terms of revenue generation from the sale of LED lights, Metro Manila dominated the market as of 2016, with a share of ~%. It is followed by CALABARZON, Central Visayas and other regions with a share of ~%, ~% and ~% respectively during same year.
The Philippines LED lights market is highly concentrated with the dominance of few leading lighting assemblers and distributors in the country. There are a significant number of assemblers and distributors of LED lights in the country but the market is dominated by a few international and domestic players. Nearly 90% of the market is dominated by top six players in the market. Since the sector requires large amount of capital to be invested, this has inhibited the emergence of several companies in the space. Frequent introduction of new LED products, rapid changes in technology, meeting the changing customer requirements, long product life cycle, prices and number of retail outlets are common platforms on which the competition prevails in the overall lighting market of the country. The major players in the market include Philips, Yatai, Firefly, Akari, General Electric and Green Energy Saving.
Future Potential of Philippines LED Lights Market
The Philippines LED lights market is expected to grow at a rapid pace at a CAGR of ~% from 2016 to 2021 owing to rising number of market players, increasing awareness about energy-efficient lighting systems among customers, and growing efforts of government to shift customers towards the environment friendly LED lights. The LED lighting market will witness launch of innovative LED products being introduced in the market by major players attracting the Filipinos. Innovations done in the design and features of LED lights are expected to attract more customers. Especially, the features such as connectivity to mobile devices providing the ease and convenience of adjusting the brightness and color temperature of LED lights through smartphones or tablets is best suitable for the hotel ballrooms, wedding halls, party areas, malls and others. The overall LED lighting market of the Philippines is expected to generate revenue of USD ~ million by 2021.
Key Factors Considered in the Report
Philippines LED Lights Market Overview and Genesis
Directional LED Light Market Philippines
Philippines LED Trends and Development
Value Chain Analysis of the Philippines LED Lights Market
The Philippines LED Lights Market Size
LED Tubes Market Philippines
Traffic Lights Market Philippines
Spot Lights Market in Philippines
LED Lights Sales in Philippines
LED Lamps Industry Philippines
The Philippines LED Lights Market Segmentation
Government Initiatives and Regulations on the Philippines LED Lights Market
Domestic Production LED Philippines
LED Lights Application Philippines
Competition LED Lights Philippines
Outdoor LED Light Market Philippines
Akari Lighting Revenue LED Philippines
Philippines LED Sales
Revenue LED Philippines
Trends and Issues in the Philippines LED Lights Market
Indoor LED Lights in Philippines
Downlights Industry Philippines
Philippines LED Light Market
To know more about the research report:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications
This post first appeared on Research News Today: Press Release Submission Site, India Global, please read the originial post: here