Navigant Research Expects Global LED Lamp Shipments to Reach Nearly 2 Billion in 2026

LED uptake in the commercial segment is outpacing adoption in the
residential and industrial segments, report finds

BOULDER, Colo.–(BUSINESS WIRE)–#Energy–A new report from Navigant
Research examines the global market for LED lighting, providing
global forecasts of lamp and module unit shipments and revenue through
2026.

The adoption of LEDs has continued to increase in recent years,
propelled by declining prices and increased efficacy. Reducing energy
costs was initially the primary driver for adoption; however, better
light quality, longer lifespans, and improved controllability have
helped accelerate LED market growth across all segments. Click
to tweet: According to a new report from @NavigantRSRCH,
global LED lamp shipments are expected to increase from 961.1 million in
2017 to nearly two billion in 2026.

“There are various drivers across the commercial, residential,
industrial, and outdoor lighting segments, but the declining prices of
LEDs and increased energy savings over legacy lighting technologies are
spurring adoption,” says Krystal Maxwell, research analyst with Navigant
Research. “Beyond those drivers, building codes and regulations and the
desire for increased control are helping to further propel the adoption
of LEDs.”

While all segments of the lighting market have experienced change due to
the increased adoption of LEDs, the commercial segment is further along
than the residential or industrial segments. According to the report,
not all segments are expected to see the same growth over the next 10
years or experience the same penetration rates. Due to the slower
adoption in the latter two markets, they present increased opportunities
for the uptake of LEDs.

The report, Market
Data: LED Global Outlook, analyzes the global market for
LED lighting across five end uses: commercial buildings, residential
buildings, industrial buildings, outdoor lighting, and automotive
headlights. The report briefly covers technology trends and market
issues, including the key drivers and barriers, related to the adoption
of LED lighting. Global market forecasts of LED lamp and module unit
shipments and revenue, segmented by end use and region, extend through
2026. An Executive Summary of the report is available for free download
on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Market Data: LED Global Outlook, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com