Reports
Philippines LED Lighting Market: By Product Type: Panel Lights, Down Lights, Street Lights, Tube Lights, Bulbs, Others; By Installation Type; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Government Regulations; Strategic Recommendations; Competitive Landscape; Industry Events and Developments
Philippines LED Lighting Market Outlook
The Philippines LED lighting market reached a market size of almost USD 542.68 million in the year 2022. The Philippines LED lighting industry is further expected to grow at a CAGR of 13% between 2023 and 2028 to reach a value of almost USD 1,129.8 million by 2028.
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The LED lighting market in Philippines is expected to be driven by the favourable government initiatives in the country. LED lights are increasingly being used in modern architecture and offer limited glare and flicker-free operations. Due to this, the LED lights are broadly used in a wide range of applications, such as refrigerator display cases, smartphones, advertising display boards across hotels, hospitals, factories, office buildings, shopping complexes, and hypermarkets and supermarkets. These lights are extensively replacing incandescent light bulbs in the Philippines as they are relatively efficient, have extended life span, and spend lesser energy.
Properties and Applications
A light-emitting diode (LED) is a light source that uses active semiconductors and electroluminescence to radiate light. It consists of a semiconductor crystal with reflectors to illuminate the emitted light. It is illuminated when an electric current circulates through the microchip.
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The industry in Philippines is divided on the basis of product type into:
- Panel Lights
- Down Lights
- Street Lights
- Tube Lights
- Bulbs
- Others
Based on application, the industry is segmented into:
- Commercial
- Residential
- Institutional
- Industrial
- Others
Based on the installation type, the industry is divided into:
- New Installation
- Retrofit Installation
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Market Analysis
The Philippines LED lighting market is driven by the increasing environmental consciousness, along with the proliferation in the construction sector. The industry is further aided by the rising investments in the residential and non-residential sectors by numerous private and foreign key players, further increasing the uptake of LED lights in the country. The use of LEDs offers multiple benefits, such as energy efficiency and cost-effectiveness to the customers, providing impetus to the market growth of the product. The industry is also being influenced due to the significant steps taken by the Republic of the Philippines's government for the promotion of sustainable development in the country.
The industry for LED lighting in Philippines is further being driven by the effective campaigns and awareness programs undertaken by the government to encourage the use of energy-efficient lighting systems. For instance, the Government Energy Management Program (GEMP) was initiated by the government so that the Department of Energy can collect and monitor data relating to electricity usage from several government entities, such as hospitals, and educational institutions, and offer strategies to better equip these establishments with more energy-efficient infrastructure. The manufacture, sale, imports, and use of incandescent light bulbs are forbidden by the government, which further bolsters the market growth in the country.
Competitive Landscape
The report gives a detailed analysis of the following key players in the Philippines LED lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Green Light LED Energy Solutions Inc.
- DG Lights
- Electrobrain Enterprises
- Yatai International Corporation
- Firefly Electric and Lighting Corp.
- Kantt LED Lighting
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Installation Type, Application |
| Breakup by Product Type | Panel Lights, Down Lights, Street Lights, Tube Lights, Bulbs, Others |
| Breakup by Installation Type | New Installation, Retrofit Installation |
| Breakup by Application | Commercial, Residential, Institutional, Industrial, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Green Light LED Energy Solutions Inc., DG Lights, Electrobrain Enterprises, Yatai International Corporation, Firefly Electric and Lighting Corp., Kantt LED Lighting, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Philippines LED Lighting Market Snapshot
7 Opportunities and Challenges in the Market
8 Philippines Lighting Market Overview
8.1 Key Industry Highlights
8.2 Philippines Lighting Historical Market (2018-2022)
8.3 Philippines Lighting Market Forecast (2023-2028)
8.4 Philippines Lighting Market by Technology
8.5 Philippines Lighting Market by Application
9 Philippines LED Lighting Market Analysis
9.1 Key Industry Highlights
9.2 Philippines LED Lighting Historical Market (2018-2022)
9.3 Philippines LED Lighting Market Forecast (2023-2028)
9.4 Philippines LED Lighting Market by Product Type
9.4.1 Panel Lights
9.4.1.1 Historical Trend (2018-2022)
9.4.1.2 Forecast Trend (2023-2028)
9.4.2 Down Lights
9.4.2.1 Historical Trend (2018-2022)
9.4.2.2 Forecast Trend (2023-2028)
9.4.3 Street Lights
9.4.3.1 Historical Trend (2018-2022)
9.4.3.2 Forecast Trend (2023-2028)
9.4.4 Tube Lights
9.4.4.1 Historical Trend (2018-2022)
9.4.4.2 Forecast Trend (2023-2028)
9.4.5 Bulbs
9.4.5.1 Historical Trend (2018-2022)
9.4.5.2 Forecast Trend (2023-2028)
9.4.6 Others
9.5 Philippines LED Lighting Market by Installation Type
9.5.1 New Installation
9.5.1.1 Historical Trend (2018-2022)
9.5.1.2 Forecast Trend (2023-2028)
9.5.2 Retrofit Installation
9.5.2.1 Historical Trend (2018-2022)
9.5.2.2 Forecast Trend (2023-2028)
9.6 Philippines LED Lighting Market by Application
9.6.1 Commercial
9.6.1.1 Historical Trend (2018-2022)
9.6.1.2 Forecast Trend (2023-2028)
9.6.2 Residential
9.6.2.1 Historical Trend (2018-2022)
9.6.2.2 Forecast Trend (2023-2028)
9.6.3 Institutional
9.6.3.1 Historical Trend (2018-2022)
9.6.3.2 Forecast Trend (2023-2028)
9.6.4 Industrial
9.6.4.1 Historical Trend (2018-2022)
9.6.4.2 Forecast Trend (2023-2028)
9.6.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Government Regulations
14 Strategic Recommendations
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players Market Share
15.3 Company Profiles
15.3.1 Green Light LED Energy Solutions Inc.
15.3.2 DG Lights
15.3.3 Electrobrain Enterprises
15.3.4 Yatai International Corporation
15.3.5 Firefly Electric and Lighting Corp.
15.3.6 Kantt LED Lighting
15.3.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Philippines LED Lighting Market: Key Industry Highlights, 2018 and 2028
2. Philippines LED Lighting Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Philippines LED Lighting Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Philippines LED Lighting Historical Market: Breakup by Application (USD Million), 2018-2022
5. Philippines LED Lighting Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Philippines LED Lighting Historical Market: Breakup by Installation Type (USD Million), 2018-2022
7. Philippines LED Lighting Market Forecast: Breakup by Installation Type (USD Million), 2023-2028
8. Philippines LED Lighting Market Structure
Key Questions Answered in the Report
In 2022, the Philippines LED lighting market attained a value of nearly USD 542.68 million.
In the forecast period of 2023-2028, the Philippines market is projected to grow at a CAGR of 13%.
By 2028, the market is estimated to reach a value of about USD 1,129.8 million.
The major market drivers include the increasing adoption of LED lighting in modern architecture, rising investments in residential and non-residential construction activities, and the growing environmental consciousness.
The key trends of the market include the growing awareness regarding the benefits of LED lighting, effective campaigns and awareness programs introduced by the government, and the introduction of stringent government regulations regarding the use of incandescent lights.
The major product types in the market are panel lights, down lights, street lights, tube lights, and bulbs, among others.
Commercial, residential, institutional, and industrial, among others, are the significant applications of LED lighting in the market.
New installation and retrofit installation are the dominant installation types of LED lighting.
The leading players in the 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.
Analyst Review
The Philippines LED lighting market attained a value of USD 542.68 million in 2022 driven by the growing eco-consciousness and restrictions on the sale of incandescent bulbs. Aided by the growing investment by public and private players in the construction industry, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13%. The market is projected to reach USD 1,129.8 million by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the Philippines market can be segmented into panel lights, down lights, street lights, tube lights, and bulbs, among others. On the basis of application, the market is divided into commercial, residential, institutional, and industrial, among others. New and retrofit installations are the major installation types in the market. The key players in the above market include Green Light LED Energy Solutions Inc., DG Lights, Electrobrain Enterprises, Yatai International Corporation, Firefly Electric and Lighting Corp., Kantt LED Lighting, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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