Philippines LED Lighting Market Size, Share, Trends, Forecast 2021-2026

Press Release:

Philippines LED Lighting Market to Reach US$ 898 Million, Impelled by Favorable Government Initiatives

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Philippines LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

Philippines LED lighting market reached a value of US$ 485.6 Million in 2020. Looking forward, IMARC Group expects the market exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

LED lights are significantly more efficient than conventional lighting products and produce more light per watt. Moreover, LEDs have a significantly longer lifespan compared to conventional light with estimates suggesting that LEDs have 35,000 to 50,000 hours of useful life, though time to complete failure may be longer. Some of the other advantages of LEDs include low maintenance costs, sturdiness, safety, non-toxicity, etc. Moreover, the Philippines government is also playing an active role in driving the demand of LED products through subsidies and a ban on incandescent lights. Electricity costs in the Philippines represent among the highest in the world due in large part to the country’s dependence on expensive imported fossil fuels, both diesel oil and coal. With lighting currently accounting for 18-20% of the total electricity consumption in the country, energy efficient lighting such as LED’s represent a key driver in reducing the electricity costs. Some of the other major factors driving the demand of LED products in Philippines include reducing costs of LED lights, launch of numerous public and private infrastructure projects and rising consumer awareness levels.

IMARC Group’s latest report provides a deep insight into the Philippines LED market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Philippines LED market in any manner.

Report Scope:

Historical, Current and Future Market Trends
Market Breakup by Product Type
- Panel Lights
- Down Lights
- Street Lights
- Tube Lights
- Bulbs
- Others
Market Breakup by Application
- Commercial
- Residential
- Institutional
- Industrial
Market Breakup by Installation Type
- New Installation
- Retrofit Installation
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
- Competitive Structure
- Key Player Profiles

Key Questions Answered in This Report:

How has the Philippines LED market performed so far and how will it perform in the coming years?
What are the key regional markets in the Philippines LED industry?
What has been the impact of COVID-19 on the Philippines LED industry?
What is the breakup of the Philippines LED market on the basis of product type?
What is the breakup of the Philippines LED market on the basis of application?
What is the breakup of the Philippines LED market on the basis of installation type?
What are the various stages in the value chain of the Philippines LED industry?
What are the key driving factors and challenges in the Philippines LED industry?
What is the structure of the Philippines LED industry and who are the key players?
What is the degree of competition in the Philippines LED industry?
What are the profit margins in the Philippines LED industry?

Report Coverage:

Base Year Considered: 2020
Historical Data Coverage: 2015-2020
Market Forecast: 2021-2026
Currency: US$
Geography Covered: Philippines
Segments Covered: product type, application, installation type and region

Report Customization: Although IMARC has tried to cover everything in the LED market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20 man hours of free customization for each report.