Philippines LED Lighting Market to Grow at a CAGR of 13.0% During 2024-2032, Driven by Rapid Urbanisation and Industrialisation

The growth of residential and commercial construction has increased the use of LED lighting for better display. One of the main reasons propelling the Philippines LED lighting market growth is the growing emphasis on energy efficiency. LED technology uses less energy, in line with national sustainability targets and cost-cutting initiatives.

In 2021, the Philippines generated around 984.00 million US dollars solely from the tourism sector. LED lights are increasingly used in hotels, restaurants, and resorts for beautification and better displays. Tourists increasingly prefer aesthetic cafes to hang out as well as to click pictures to improve their portfolio on social media. Thus, the hospitality sector focuses on beautification through LED lighting and indoor construction activities.

In February 2023, the Department of Public Works and Highays (DPWH) announced general designs for high-pressure sodium and LED solar-powered highway lighting along the national roads of the Philippines. The government body issued the standard design drawings in Department Order (DO) No. 19, Series of 2023, after the usage of solar-powered street lighting on public works projects.

Solar-powered roadway lighting is ideal for use alongside both new and existing roads due to its stability, long service life, ease of installation, safety, and, of course, energy efficiency. In order to ensure that there are enough light sources on the travelled path, the order also specifies lamp wattage, mounting height, spacing, and use of polearms based on the type, width, and number of lanes of the road, as well as intersections and merging sections that call for a higher level of illumination.

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Market Analysis by Product Type, Installation Type, and Application:

• The market, on the basis of product type, can be divided into panel lights, down lights, street lights, tube lights, and bulbs, among others.

• Based on installation type, the market can be divided into new installation and retrofit installation.

• The various applications of LED lighting include commercial, residential, institutional, and industrial, among others.

Key Findings of the Report:

• LED lights are widely employed in different areas, including shopping malls, supermarkets, hospitals, factories, and hypermarkets due to their higher energy efficiency, and longer lifespan.

• In 2022, the tourism sector contributed 6.2% to the Philippines’ GDP. The influx of tourists strengthens the hospitality sector, which, in turn, positively influences the Philippines LED lighting market expansion.

• Government initiatives such as the Philippine Energy Efficiency Project (PEEP) and replacing energy-wasting light bulbs with more efficient fluorescent and LED bulbs to reduce power failures create opportunities for the market.

• In the Philippines, currently, 48% of the total population lives in urban areas. The nation is rapidly becoming more urbanised and expanding its infrastructure, which is driving up demand for innovative lighting solutions.

Key Offerings of the Report:

• The EMR report gives an overview of the Philippines LED lighting market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, installation types, and applications of LED lighting in the Philippines.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Philippines LED lighting market are Green Light LED Energy Solutions Inc., DG Lights, Electrobrain Enterprises, Yatai International Corporation, Firefly Electric and Lighting Corp., and Kantt LED Lighting, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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