The global market for commercial and industrial LED lighting installations is predicted to see massive growth by the end of the decade, with the UK leading the charge.
According to a newly published report from Transparency Market Research, the industrial and commercial LED lighting sector is likely to see compound annual growth rates of over 30% between 2013 and 2019.
Within this, Europe is the largest market with a third of all sales in 2012, and the UK is one of the key countries – along with Germany, Denmark and Russia – driving adoption within the continent.
Government interventions such as banning the manufacture and import of incandescent light bulbs and incentivising the use of LED lighting are cited as driving forces behind the huge growth.
“The high efficiency and durability of LED lights has boosted their demand across the industrial and commercial sectors,” the report states.
“The overall market has a huge opportunity to grow with the increasing trend of patent filings and the rising awareness about smart lighting, especially across emerging economies.”
While the largest segment within the market is not industrial, but commercial – with 52.5% of sales – it is worth recognising that this includes several subcategories like warehouses and storage, which may be found on what is otherwise classified as an industrial site.