CAPE TOWN, South Africa, June 9 /PRNewswire/ --
Although the South African lighting equipment market is highly price sensitive, innovative lighting technologies are creating new opportunities for suppliers. These new technologies will see the value of the market more than triple over the next five years.
New analysis from Frost Sullivan (http://www.buildingtechnologies.frost.com), South African Lighting Equipment Market, finds that the market earned revenues of US$367.1 million in 2007 and estimates this to reach US$1,411.3 million by 2014.
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Energy and environmental management trends have encouraged market participants to supply energy-efficient technologies, notes Frost Sullivan Research Analyst Sostina Shiri. There has been a significant boost to the lighting industry through the increased uptake of energy efficient lamps such as compact fluorescent lamps (CFLs).
However, the initial cost of manufacturing advanced lighting technologies is very high. As a result, there is a trade-off between the cost of manufacturing products and potential energy savings they provide. As light-emitting diodes (LEDs) lamps begin to enter the market, companies are making sizeable investments towards research and development (RD) in this technology.
Although prices have come down in recent years, advanced lighting products are still beyond the reach of many end users in the market, explains Shiri. Most end users are being restricted from using advanced lighting technologies because of the high capital cost requirement.
New lamp technologies usually promise improved lamp performance and higher energy-savings potential. Manufacturers are investing large amounts of money into the RD of cheaper and more energy-efficient lamps. As a result, there has been an increase in the efficiency of lamps as well as in the product range, thereby driving the demand for lighting technologies.
This innovation may, however, also create difficulties for suppliers.
Lamp life is increasing, leading to lower replacement rates, explains Frost Sullivan Research Analyst Sostina Shiri. Although this will result in higher revenues in the short term, it is likely to have a negative impact in the long term due to decreasing sales. One way to overcome this challenge would be for suppliers to focus on ongoing innovation so that new and better models are available in the market, tempting consumers to upgrade.
South African Lighting Equipment Market is part of the is part of the Building Management Technologies Growth Partnership Services programme, which also includes research in the following markets: South African Industrial and Commercial Security Systems and Services Market, South African Residential Security Systems and Services Market, South African HVAC Market and, South African Facilities Management Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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South African Lighting Equipment Market M36C Contact: Patrick Cairns Corporate Communications - Africa P: +27-18-468-2315 E: firstname.lastname@example.org
Patrick Cairns, Corporate Communications - Africa of Frost Sullivan, +27-18-468-2315, email@example.com. Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO