Navigant Research predicts that the global market for tubular LEDs (TLEDs) examines the commercial market for tubular light-emitting diodes (TLEDs), will grow by 7.6% CAGR from 2018 to 2027.
The firm cites declining prices for TLEDs, a desire to reduce energy consumption, and building codes and standards that require more efficient lighting solutions as the drivers of the substantial TLEDs market growth. Also, the company notes that TLED technology offer many benefits over legacy lighting technologies, such as an increased lifespan and enhanced efficiency.
“Price declines and utility incentives have made the initial cost of TLEDs more comparable to that of fluorescent tubes while the abovementioned benefits have helped justify the higher price point,” said Krystal Maxwell, senior research analyst at Navigant Research. “They provide a more attractive upfront cost than LED luminaires, as well as increased flexibility and ease of installation, which is helping to drive the TLED market.”
According to the Navigant, a fluorescent tube offers a familiar form factor for building owners, managers, and tenants and delivers a more efficient plug-and-play alternative, depending on the lamp type. TLEDs also offer quicker retrofit solutions than a retrofit kit or LED luminaire that incorporates the retrofit of the fixture with a new fixture and an integrated light source.