Philippines LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The Philippines LED Lighting market size reached US$ 648 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,252 Million by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028. The growing installation in streets, parking garages, walkways, and other outdoor spaces; increasing employment of LED displays in keypads or backlighting of mobile phones; and rising construction of residential and commercial infrastructure represent some of the key factors driving the market.
Light emitting diode (LED) is a semiconductor device that emits infrared or visible light when charged with electric power. It comprises various materials, such as aluminum gallium indium phosphide alloys and indium gallium nitride alloys, which generate red, orange, yellow, green, blue, and white lights. It operates by electroluminescence, in which the emission of photons is caused by the electronic excitation of a material. It is an energy-efficient lighting technology that offers better light quality compared to other types of lighting. It is incorporated in a wide variety of electronic devices, such as indicator lamps, brake lights, and rare window lights installed in vehicles. It is also used in billboards and signs, alphanumeric displays, and full-color posters to allow companies to focus the marketing message on certain demographics within a particular locale. Furthermore, as it is integrated into autofocus cameras which are capable of automatically focusing on a subject to take clear photographs, the demand for LED is rising in the Philippines.
Philippines LED Market Trends:
At present, the increasing demand for LED, as it is cost-effective and generates less heat, represents one of the primary factors influencing the market positively in the Philippines. Besides this, the rising adoption of LED lights, as they require minimum maintenance, possess a longer shelf life, and are non-toxic in nature, is bolstering the growth of the market in the country. In addition, governing agencies of the Philippines are encouraging the adoption of LED lights and banning the utilization of incandescent light bulbs, which possess a short shelf life and consume excessive quantities of energy. Apart from this, the growing installation of LED bulbs in the residential and commercial sectors due to rising environmental consciousness among the masses is offering a favorable market outlook. Additionally, the increasing employment of LED displays in keypads or backlighting and flashlight or flashes in mobile phones is contributing to the growth of the market in the Philippines. Moreover, the rising installation of LED lights in streets, parking garages, walkways, and other outdoor spaces to keep them illuminated and minimize the risks of accidents, mishaps, and injuries is supporting the growth of the market in the country.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Philippines LED market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on product type, application and installation type.
Product Type Insights:
Panel Lights
Down Lights
Street Lights
Tube Lights
Bulbs
Others
The report has provided a detailed breakup and analysis of the Philippines LED market based on the product type. This includes panel lights, down lights, street lights, tube lights, bulbs, and others. According to the report, panel lights represented the largest segment.
Application Insights:
Commercial
Residential
Institutional
Industrial
A detailed breakup and analysis of the Philippines LED market based on the application has also been provided in the report. This includes commercial, residential, institutional, and industrial. According to the report, residential accounted for the largest market share.
Installation Type Insights:
New Installation
Retrofit Installation
A detailed breakup and analysis of the Philippines LED market based on the installation type has also been provided in the report. This includes new installation and retrofit installation. According to the report, retrofit installation accounted for the largest market share.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the Philippines LED market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
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 drivers, restraints, and opportunities in the Philippines LED market?
What is the impact of each driver, restraint, and opportunity on the Philippines LED market?
What is the breakup of the market based on the product type?
Which is the most attractive product type in the Philippines LED market?
What is the breakup of the market based on the application?
Which is the most attractive application in the Philippines LED market?
What is the breakup of the market based on the installation type?
Which is the most attractive installation type in the Philippines LED market?
What is the competitive structure of the Philippines LED market?
Who are the key players/companies in the Philippines LED market?
The Philippines LED Lighting market size reached US$ 648 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,252 Million by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028. The growing installation in streets, parking garages, walkways, and other outdoor spaces; increasing employment of LED displays in keypads or backlighting of mobile phones; and rising construction of residential and commercial infrastructure represent some of the key factors driving the market.
Light emitting diode (LED) is a semiconductor device that emits infrared or visible light when charged with electric power. It comprises various materials, such as aluminum gallium indium phosphide alloys and indium gallium nitride alloys, which generate red, orange, yellow, green, blue, and white lights. It operates by electroluminescence, in which the emission of photons is caused by the electronic excitation of a material. It is an energy-efficient lighting technology that offers better light quality compared to other types of lighting. It is incorporated in a wide variety of electronic devices, such as indicator lamps, brake lights, and rare window lights installed in vehicles. It is also used in billboards and signs, alphanumeric displays, and full-color posters to allow companies to focus the marketing message on certain demographics within a particular locale. Furthermore, as it is integrated into autofocus cameras which are capable of automatically focusing on a subject to take clear photographs, the demand for LED is rising in the Philippines.
Philippines LED Market Trends:
At present, the increasing demand for LED, as it is cost-effective and generates less heat, represents one of the primary factors influencing the market positively in the Philippines. Besides this, the rising adoption of LED lights, as they require minimum maintenance, possess a longer shelf life, and are non-toxic in nature, is bolstering the growth of the market in the country. In addition, governing agencies of the Philippines are encouraging the adoption of LED lights and banning the utilization of incandescent light bulbs, which possess a short shelf life and consume excessive quantities of energy. Apart from this, the growing installation of LED bulbs in the residential and commercial sectors due to rising environmental consciousness among the masses is offering a favorable market outlook. Additionally, the increasing employment of LED displays in keypads or backlighting and flashlight or flashes in mobile phones is contributing to the growth of the market in the Philippines. Moreover, the rising installation of LED lights in streets, parking garages, walkways, and other outdoor spaces to keep them illuminated and minimize the risks of accidents, mishaps, and injuries is supporting the growth of the market in the country.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Philippines LED market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on product type, application and installation type.
Product Type Insights:
Panel Lights
Down Lights
Street Lights
Tube Lights
Bulbs
Others
The report has provided a detailed breakup and analysis of the Philippines LED market based on the product type. This includes panel lights, down lights, street lights, tube lights, bulbs, and others. According to the report, panel lights represented the largest segment.
Application Insights:
Commercial
Residential
Institutional
Industrial
A detailed breakup and analysis of the Philippines LED market based on the application has also been provided in the report. This includes commercial, residential, institutional, and industrial. According to the report, residential accounted for the largest market share.
Installation Type Insights:
New Installation
Retrofit Installation
A detailed breakup and analysis of the Philippines LED market based on the installation type has also been provided in the report. This includes new installation and retrofit installation. According to the report, retrofit installation accounted for the largest market share.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the Philippines LED market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
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 drivers, restraints, and opportunities in the Philippines LED market?
What is the impact of each driver, restraint, and opportunity on the Philippines LED market?
What is the breakup of the market based on the product type?
Which is the most attractive product type in the Philippines LED market?
What is the breakup of the market based on the application?
Which is the most attractive application in the Philippines LED market?
What is the breakup of the market based on the installation type?
Which is the most attractive installation type in the Philippines LED market?
What is the competitive structure of the Philippines LED market?
Who are the key players/companies in the Philippines LED market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 PHILIPPINES LIGHTING INDUSTRY
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Application
5.4 Market Breakup by Technology
6 WHY IS THE LED MARKET SO LUCRATIVE IN PHILIPPINES
7 PHILIPPINES LED INDUSTRY
7.1 Market Overview
7.2 Market Performance
7.3 Impact of COVID-19
7.4 Market Breakup by Product Type
7.5 Market Breakup by Application
7.6 Market Breakup by Installation Type
7.7 Market Breakup by Region
7.8 Market Breakup by Indoor and Outdoor Applications
7.9 Market Forecast
7.10 SWOT Analysis
7.10.1 Overview
7.10.2 Strengths
7.10.3 Weaknesses
7.10.4 Opportunities
7.10.5 Threats
7.11 Value Chain Analysis
7.12 Porters Five Forces Analysis
7.12.1 Overview
7.12.2 Bargaining Power of Buyers
7.12.3 Bargaining Power of Suppliers
7.12.4 Degree of Competition
7.12.5 Threat of New Entrants
7.12.6 Threat of Substitutes
7.13 PESTEL Analysis
7.13.1 Political
7.13.2 Economic
7.13.3 Social
7.13.4 Legal
7.13.5 Environmental
7.13.6 Technological
7.14 Price Analysis
7.14.1 Key Price Indicators
7.14.2 Price Structure
7.14.3 Margin Analysis
7.15 Key Market Drivers and Success Factors
8 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY PRODUCT TYPE
8.1 Panel Lights
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Down Lights
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Street Lights
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Tube Lights
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Bulbs
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY APPLICATION
9.1 Commercial
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Residential
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Institutional
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Industrial
9.4.1 Market Trends
9.4.2 Market Forecast
10 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY INSTALLATION TYPE
10.1 New Installation
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Retrofit Installation
10.2.1 Market Trends
10.2.2 Market Forecast
11 GOVERNMENT REGULATIONS
12 STRATEGIC RECOMMENDATIONS
13 COMPETITIVE LANDSCAPE
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 PHILIPPINES LIGHTING INDUSTRY
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Application
5.4 Market Breakup by Technology
6 WHY IS THE LED MARKET SO LUCRATIVE IN PHILIPPINES
7 PHILIPPINES LED INDUSTRY
7.1 Market Overview
7.2 Market Performance
7.3 Impact of COVID-19
7.4 Market Breakup by Product Type
7.5 Market Breakup by Application
7.6 Market Breakup by Installation Type
7.7 Market Breakup by Region
7.8 Market Breakup by Indoor and Outdoor Applications
7.9 Market Forecast
7.10 SWOT Analysis
7.10.1 Overview
7.10.2 Strengths
7.10.3 Weaknesses
7.10.4 Opportunities
7.10.5 Threats
7.11 Value Chain Analysis
7.12 Porters Five Forces Analysis
7.12.1 Overview
7.12.2 Bargaining Power of Buyers
7.12.3 Bargaining Power of Suppliers
7.12.4 Degree of Competition
7.12.5 Threat of New Entrants
7.12.6 Threat of Substitutes
7.13 PESTEL Analysis
7.13.1 Political
7.13.2 Economic
7.13.3 Social
7.13.4 Legal
7.13.5 Environmental
7.13.6 Technological
7.14 Price Analysis
7.14.1 Key Price Indicators
7.14.2 Price Structure
7.14.3 Margin Analysis
7.15 Key Market Drivers and Success Factors
8 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY PRODUCT TYPE
8.1 Panel Lights
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Down Lights
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Street Lights
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Tube Lights
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Bulbs
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY APPLICATION
9.1 Commercial
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Residential
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Institutional
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Industrial
9.4.1 Market Trends
9.4.2 Market Forecast
10 PHILIPPINES LED INDUSTRY: MARKET BREAKUP BY INSTALLATION TYPE
10.1 New Installation
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Retrofit Installation
10.2.1 Market Trends
10.2.2 Market Forecast
11 GOVERNMENT REGULATIONS
12 STRATEGIC RECOMMENDATIONS
13 COMPETITIVE LANDSCAPE
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
LIST OF TABLES
Table 1: Philippines: LED Lighting Market: Key Industry Highlights, 2022 and 2028
Table 2: Philippines: LED Market: Key Industry Highlights, 2022 and 2028
Table 3: Philippines: LED Lighting Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 4: Philippines: LED Lighting Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Philippines: LED Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 6: Philippines: LED Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 7: Philippines: LED Market Forecast: Breakup by Installation Type (in Million US$), 2023-2028
Table 8: Philippines: LED Market Structure
Table 9: Philippines: LED Market: Key Players
Table 1: Philippines: LED Lighting Market: Key Industry Highlights, 2022 and 2028
Table 2: Philippines: LED Market: Key Industry Highlights, 2022 and 2028
Table 3: Philippines: LED Lighting Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 4: Philippines: LED Lighting Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Philippines: LED Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 6: Philippines: LED Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 7: Philippines: LED Market Forecast: Breakup by Installation Type (in Million US$), 2023-2028
Table 8: Philippines: LED Market Structure
Table 9: Philippines: LED Market: Key Players
LIST OF FIGURES
Figure 1: Philippines: Lighting Market: Major Drivers and Challenges
Figure 2: Philippines: LED Market: Major Drivers and Challenges
Figure 3: Philippines: Lighting Market: Sales Value (in Million US$), 2017-2022
Figure 4: Philippines: LED Market: Sales Value (in Million US$), 2017-2022
Figure 5: Philippines: Lighting Market: Breakup by Technology (in %), 2022
Figure 6: Philippines: Lighting Market: Breakup by Application (in %), 2022
Figure 7: Philippines: LED Market: Breakup by Product Type (in %), 2022
Figure 8: Philippines: LED Market: Breakup by Application (in %), 2022
Figure 9: Philippines: LED Market: Breakup by Installation Type (in %), 2022
Figure 10: Philippines: LED Market: Breakup by Region (in %), 2022
Figure 11: Philippines: Lighting Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Philippines: LED Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Philippines: LED Industry: SWOT Analysis
Figure 14: Philippines: LED Industry: Value Chain Analysis
Figure 15: Philippines: LED Industry: Porter’s Five Forces Analysis
Figure 16: Philippines: LED Industry: PESTEL Analysis
Figure 17: Philippines: LED (Panel Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Philippines: LED (Panel Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Philippines: LED (Down Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Philippines: LED (Down Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Philippines: LED (Street Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Philippines: LED (Street Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Philippines: LED (Tube Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Philippines: LED (Tube Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Philippines: LED (Bulbs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Philippines: LED (Bulbs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Philippines: LED (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Philippines: LED (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Philippines: LED (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Philippines: LED (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Philippines: LED (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Philippines: LED (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Philippines: LED (Institutional) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Philippines: LED (Institutional) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Philippines: LED (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Philippines: LED (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Philippines: LED (New Installation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Philippines: LED (New Installation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Philippines: LED (Retrofit Installation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Philippines: LED (Retrofit Installation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 1: Philippines: Lighting Market: Major Drivers and Challenges
Figure 2: Philippines: LED Market: Major Drivers and Challenges
Figure 3: Philippines: Lighting Market: Sales Value (in Million US$), 2017-2022
Figure 4: Philippines: LED Market: Sales Value (in Million US$), 2017-2022
Figure 5: Philippines: Lighting Market: Breakup by Technology (in %), 2022
Figure 6: Philippines: Lighting Market: Breakup by Application (in %), 2022
Figure 7: Philippines: LED Market: Breakup by Product Type (in %), 2022
Figure 8: Philippines: LED Market: Breakup by Application (in %), 2022
Figure 9: Philippines: LED Market: Breakup by Installation Type (in %), 2022
Figure 10: Philippines: LED Market: Breakup by Region (in %), 2022
Figure 11: Philippines: Lighting Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Philippines: LED Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Philippines: LED Industry: SWOT Analysis
Figure 14: Philippines: LED Industry: Value Chain Analysis
Figure 15: Philippines: LED Industry: Porter’s Five Forces Analysis
Figure 16: Philippines: LED Industry: PESTEL Analysis
Figure 17: Philippines: LED (Panel Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Philippines: LED (Panel Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Philippines: LED (Down Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Philippines: LED (Down Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Philippines: LED (Street Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Philippines: LED (Street Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Philippines: LED (Tube Lights) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Philippines: LED (Tube Lights) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Philippines: LED (Bulbs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Philippines: LED (Bulbs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Philippines: LED (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Philippines: LED (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Philippines: LED (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Philippines: LED (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Philippines: LED (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Philippines: LED (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Philippines: LED (Institutional) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Philippines: LED (Institutional) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Philippines: LED (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Philippines: LED (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Philippines: LED (New Installation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Philippines: LED (New Installation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Philippines: LED (Retrofit Installation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Philippines: LED (Retrofit Installation) Market Forecast: Sales Value (in Million US$), 2023-2028
