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InvestFrost EBT - North American Energy Efficient Lamps Market
Frost & Sullivan, March 2009, Pages: 36
This Frost & Sullivan research service titled InvestFrost EBT - North American Energy Efficient Lamps Market provides the investment highlights, investment themes and the Frost & Sullivan Growth Monitor. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets compact fluorescent lamps (CFLs) and light emitting diodes (LEDs).
This analysis is available through our Financial Benchmarking in the Energy and Power Systems Industry subscription. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services program ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here.
Market Overview
Energy Efficiency Initiatives and Supporting Legislations Spur Growth in the North American Energy Efficient Lamps Market
Against the backdrop of escalating energy costs and the dire need for energy savings, energy efficient lamps have emerged as a prominent component of the North American energy efficient lighting industry over the last five years. On an average, the use of CFLs enables savings of $30 of annual energy costs.
The Energy Committee of the United States has announced its intention to draft a bill that would trigger the phase-out of the use of incandescent light bulbs in the United States. “The move to ban incandescent bulbs is part of the greater initiative to curb the United States’ energy usage in order to address the problem of global warming,” notes the analyst of this research service. “One of the main points in the Obama-Biden agenda for energy and environment in the United States is the creation of, at least, a million green jobs, which would require the deployment of the cheapest, cleanest, and fastest energy source to develop energy efficiency.”
Global Meltdown Curtails Market Progression
The global financial crunch has thrown up some challenges for this market. The credit crisis has had ripple effects on the construction industry, slackening the pace of the energy efficient lamps market as well. Further, the market is still in the nascent stages and numerous unbranded products are on offer. Moreover, products from Asian manufacturers off loaded into this market also pose tough challenges in the form of competitive pricing. “The entry of new participants into the market has been witnessed only in the low-end sector, which has experienced an influx of unbranded products mainly from Asian manufacturers,” explains the analyst. “Characterized by aggressive pricing strategies, the market thrives on volumes rather than price.” In the wake of the current crisis and the resultant reduced budgets, demand in this segment is likely to continue on an upward trajectory.
While the economy segment of the market is particularly sensitive to the price factor, brand name, price, product quality, and product life consistently remained at the forefront of competition among the tier I companies, which account for nearly 50 to 60 percent of total market share. For further development, manufacturers of conventional lighting equipment should employ innovative strategies and review the technical efficiency of their products. Manufacturers would find it beneficial to use Energy Star Partnerships, ensuring that their products comply with Energy Star requirements set by the U.S. Environmental Protection Agency. This will help differentiate the product in the market and sufficiently boost deep market penetration.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By End Use Vertical:
- Residential
- Industrial
- Commercial
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