It has been forecast that the world market for energy-efficient lighting will continue to be bolstered by consumer demand, as a report by Freedonia Group predicts that the $43.9 billion industry will grow 12 per cent annually through to 2016.
This estimation values the use of energy-efficient lighting at $78.3 billion come three years time.
The reasons for such an exponential growth in the industry are numerous, FierceEnergy.com reported. Incandescent lamps are being increasingly phased out due to their far higher running costs when compared to other more energy-efficient alternatives. While they may be a cheaper upfront investment, the costs implicated in running them mean that, in the long run, they are far inferior to 'greener' alternatives that are gradually beginning to saturate the lighting markets.
Another reason is that, due to the staggering sums of money that have been invested in lighting technologies, alternatives also offer a far better quality of light, that can furthermore be directed to where it is needed.
In addition, sources emitting a greater intensity light mean that fewer of them are needed, further slashing installation costs.
Freedonia predicts that in the short term, sales of compact fluorescent lamps (CFLs) will continue to increase as many governments still use them as a replacement for older, less efficient incandescent light sources. However, it forecasts that concerns regarding the safe disposal of CFLs will increasingly have a negative impact on sales growth - as will the increasingly fierce competition of LEDs, which do not present the same disposal problems.
People interested in carrying out retrofit lighting projects for their homes or businesses - or even those building a property from scratch - have many options available to them for outdoor lighting, ceiling spotlights and even bathroom light fittings, which will help to keep both energy costs and emissions to an absolute minimum.
