LED Lighting:
Public Transportation Vehicles Market Forecast
The use of LED-based lamps/devices in public transportation vehicles reached $1.19 Billion in 2014
Aptos, CA (USA) – March 11, 2015 – ElectroniCast Consultants, a leading market research firm, today announced the release of their market research study of the worldwide use of light emitting diode-lighting lamps/devices used in Public Transportation Vehicles. The report provides actual consumption (use) market data for 2014, plus the year-by-year forecast through 2021.
According to the market research study, the world use of LED-based lamps/devices in public transportation vehicles reached $1.19 billion in 2014. The bus vehicle category, which includes Bus Rapid Transit (BRT) and coach (long-distance buses), led in relative market share of global consumption with 38.7% in relative market share. However, all of the rail-vehicle categories are forecast for (much) faster annual growth than the bus vehicle category.
The use of LED-based light/devices in public transit watercraft/ferries held a minor market share (0.3%) with $3.6 million in value last year; however, as use of watercraft/ferries continue to join a wider acceptance with transit authorities and the general public, funding for green-tech lighting/energy consumption will increase (long-term).
“Public transportation vehicles are incorporating energy efficient LED interior and exterior lighting, installed in new vehicles by the vehicle manufacturers, vehicle refurbishing projects, as well as on-site retrofitting and maintenance programs by the transit authorities. Both categories (exterior and interior) are forecast for steady growth,” said Stephen Montgomery, Director of the LED Lighting market research group at ElectroniCast Consultants.
“Public transportation projects are a major element to regional development throughout the world. New and renovated vehicles include numerous improvements, which enable more comfort and safety for the passengers and operators. LED lighting manufacturers and suppliers with understanding of this market segment are set to enjoy strong sales potential,” Montgomery added.
For the purposes of this study, ElectroniCast defines public transportation as a shared passenger transportation service, which is available for use by the general public. Public transportation vehicles, included in this study, are listed below. The LED lighting public transportation vehicles global market is segmented into the following vehicle (type) categories:
· Bus
· Rail and Rapid Transit Vehicles
o Light-Rail, Tram/Trolley/Streetcar
o Rapid Transit/Metro and Subway/Underground
o High-Speed, Commuter/Intercity and Long-Distance
· Ferries/Watercraft
The market forecast is also segmented into the following product-type:
· LED-based Back Light Unit (BLU) Bars for LCD Display Screens
· LED Signage/Destination Sign Board Modules
· Other/Miscellaneous LED Lamps and Luminaries
Founded in 1981, ElectroniCast specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communications and manufacturing companies, as well as the investment/financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning. Visit: www.electronicast.com
