Philippine government’s green infrastructure rules and regulations providing standards and incentives to promote more energy efficient and green buildings, the LED streetlight retrofit program and rising electricity penetration in the country contributed to the growth of LED lights market in Philippines.
The report titled “Philippines LED Lights Market Outlook to 2021– Government Efforts to Induce LED Penetration and Sustainable Optimization of Electricity to Develop Future Growth” by Ken Research suggested a positive CAGR of over 20% in terms of revenue in LED lighting market in the next 5 years till 2021.
Lighting industry in the Philippines is facing the most notable transition since the introduction of electric light bulbs in the 19th century. Lighting market was traditionally dominated by fluorescent tube lights (FTLs) and incandescent bulbs (ICLs) until a decade ago. The prime reasons attributed to their dominance were easy availability, cheaper products relative to other lighting products and easy installation. These traditional lighting systems consume more electricity than the LED lighting systems. LED lighting delivers on CO2 emission reduction targets by up to 1400 million tons per year, by replacing a uniform approach to lighting with tailored technology that is fit for use and also cuts unnecessary energy consumption. LED lights market in the Philippines has displayed a tremendous increase at a double digit CAGR growth. 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. With a programmable lighting system, government is able to take advantage of smart lighting systems in the event of an emergency and be able to assist in its swift resolution.
Current business models are being scrutinized and future market potential is being assessed against those models. This is due to the rapid emergence of LED lighting that is transforming the technological and competitive landscape. Increasing pollution, electricity shortage, increasing electricity generation charges and others have led the government to promote green lighting technology in the country.
Key Factors Considered in the Report
Firefly Electric Competition Philippines
LED Lights Component Sales Philippines
Adoption LED Philippines
FELCO LED Sales Philippines
LED Lights Application Philippines
Philippines Manufacturing LED
LED Lamps Industry Philippines
Indoor LED Lights in Philippines
Philippines LED Sales
LED Lights Sales in Philippines
Industry Size Forecast LED Light
LED Bulbs Imports Philippines
Future LED Philippines
To know more about the research report:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications