Philippines govt induces LED penetration for future growth
Feb 13, 2018: A new report, ‘Philippines LED Lights Market Outlook to 2021–Government Efforts to Induce LED Penetration and Optimization of Electricity to Develop Future Growth’, has been released, which provides updates for 2018 of telecoms and computing industries.
The Philippines LED lights market is highly concentrated with the dominance of few leading lighting assemblers and distributors in the country. There are a significant number of assemblers and distributors of LED lights in the country but the market is dominated by a few international and domestic players. Nearly 90% of the market is dominated by top six players in the market. Since the sector requires large amount of capital to be invested, this has inhibited the emergence of several companies in the space. Frequent introduction of new LED products, rapid changes in technology, meeting the changing customer requirements, long product life cycle, prices and number of retail outlets are common platforms on which the competition prevails in the overall lighting market of the country. The major players in the market include Philips, Yatai, Firefly, Akari, General Electric and Green Energy Saving.
The LED lights market in Philippines is currently in a nascent stage and is expected to grow at a remarkable rate in the coming five years. Manufacturing plants for LED lights are expected to be installed in the country by both national and international players. The demand for LED lights has shown a consistent rise since its inception in the Philippines and the same trend is expected to continue at least for the next five years. Rising demand for the product is expected to increase competition in the market. New players are expected to rise and the major parameter of competition shall be price.
The report covers market size on the basis of revenue, market segmentation by type of LED, usage, type of luminaire, type of lamps, distribution channel and by region. The report also includes the government initiatives and regulations in LED lights market, competitive landscape and company profiles for major players in the LED lights market. The report provides detailed overview on the general features of LED lights in the country and future outlook & projections with future strategies of the players in the market.
The report facilitate the readers with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry and has anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for LED lights assemblers, manufacturers, commercial, industrial, government and residential customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.