Philippines LED Lights Market is Expected to Cross USD 500 Million in Revenues by 2021: Ken Research
GURUGRAM, India, September 18, 2017 /PRNewswire/ --
Philippines LED Light Market by type of LED (luminaire and lamps), by type of Luminaire (panel lights, downlights, spot lights, directional), by Indoor Usage (commercial, residential, industrial) by Outdoor Usage (building exterior, parking lot and garage, roadway) by Type of Lamp (Reflectors, Tubes, other lamps) by Distribution Channel (project sales, exclusive agency, retailers) and by Market Share of Major Companies
September 2017|Philippines News
- Growing Infrastructure and construction industry in the country is expected to
raise the demand for LED lights to meet the public lighting needs
- Initiatives by the government and major players to raise the awareness of energy
efficient lighting systems among the public are expected to increase the LED light
penetration rate among the residential customers.
- Rising concerns among the public about sustainable environment and demand for lighting
systems that are less harmful to the environment, to raise the demand for LED lights
(Logo: http://photos.prnewswire.com/prnh/20130909/638322 )
The LED lights market in Philippines is currently in a nascent stage and is expected to grow at a remarkable rate in the coming five years. Manufacturing plants for LED lights are expected to be installed in the country by both national and international players. The demand for LED lights has shown a consistent rise since its inception in the Philippines and the same trend is expected to continue at least for the next five years. Rising demand for the product is expected to increase competition in the market. New players are expected to rise and the major parameter of competition shall be price. The lack of awareness has constrained the penetration of LED lights in the country. To deal with the scenario, major players in the market are increasingly focusing on spreading awareness among the people related to the use of LED lights. The country's president Rodrigo Duterte has envisioned a plan called "golden age of infrastructure" which is expected to be majorly financed by the influx of money from China and Japan. It is an infrastructure development project with an estimated investment of USD 168 billion on 5,000 developmental projects across the nation within the next six years. These infrastructure projects are expected to raise the demand for LED lightings to meet the public lighting needs.
The awareness programs conducted by both government and players in the market are expected to raise the LED light penetration rate in the country by at least 40% by 2021. Especially, the penetration among the residential customers is expected to rise in the coming years due to the sustainability concern.
Ken Research in its latest study, Philippines LED Lights Market Outlook to 2021 [https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/philippines-led-lighting-market/139309-95.html ] observed that the rising residential and commercial construction in the country and the government plans to reach 100% in the electricity penetration shall amplify the growth rate of LED lights market in the country. An emphasis on local manufacturing, increased focus on the residential customers and implementation of a standard regulatory framework for the market shall support growth in the market.
The Philippines LED lights market is estimated to register a positive CAGR of over 20% during 2017-2021. Rising awareness activities, reduction in the prices, infrastructural developments, government initiatives, improved product offerings and similar other factors are expected to be key drivers for a growth in the demand for LED lights in the country.
The report provides information on the types of LED, its usage, types of luminaires, type of lamps, distribution channel and the regions dominating the market in terms of revenues. It also covers the major players in the market such as Yatai International Corporation, Firefly Electric and Lighting Corporation, Akari Lighting & Technology, General Electric Philippines, Philips Electronics and Lighting, Inc. (PELI) and Green Energy Saving (GES).
Key Topics Covered in the Report:
- Philippines LED Lighting Market
- Industry Size Forecast LED Light
- LED Luminaries Market Philippines
- LED Lamps Industry Philippines
- Indoor LED Lights in Philippines
- Future LED Philippines
- LED Lights Sales in Philippines
- Revenue LED Philippines
- Panel Lights Market Philippines
- Directional LED Light Market Philippines
- Spot Lights Market in Philippines
- LED Tubes Market Philippines
- General Lighting Market Philippines
- Yatai International Market Share Philippines
- Firefly Electric Competition Philippines
- Akari Lighting Revenue LED Philippines
- FELCO LED Sales Philippines
- Philippines LED Philippines
- Traffic Lights Market Philippines
- LED Light Retrofit Market Philippines
For more information on the market research report please refer to the below link: https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/philippines-led-lighting-market/139309-95.html
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