Lighting
Global LED panel market set to reach $56.8bn
LED panel light applications are widely used in retrofit projects because of their higher efficiency and better luminance.
H
ere, Ovia takes a look at the future of the global market for LED panel lights, sharing market predictions and trends for this growing lighting sector. According to global managing consulting firm IMARC Group, the global LED panel light market size reached $24.5bn in 2023 and is expected to reach $56.8nn by 2032, exhibiting a growth rate (CAGR) of 9.5% during 2024-2032. Energy efficiency regulations, significant advancements in LED technology, rising global awareness of sustainability and widespread adoption of LED technology in commercial, industrial and residential sectors represent some of the key factors driving the growth of the market. In retrofit projects, replacing old lighting systems with powerful LED technologies not only reduces energy consumption, but improves the quality of the light output. This is particularly applicable in places like schools, offices and hospitals, where better lighting can impact productivity and health. Installation of LED panels into the existing frames is simple, making them an ideal choice for retrofitting. This offers an economic solution for upgrading older systems and simultaneously supports environmental sustainability goals.
The LED panels market has come a long way since the fittings were first introduced in the UK more than ten years ago, when a 45W panel cost more than £200. Today the LED panel market in the UK is huge, and in recent years LED panels have been used as the main replacement for fluorescent tubes as a means of saving on energy consumption.
Energy efficiency NPD
With energy efficiency remaining a key priority for the lighting sector, Ovia’s latest product development has focussed on the company’s
range of LED panels, with the launch of new and improved versions which now feature lower wattages and produce higher lumen outputs. Now offering a new 140 lumen panels range within its commercial lighting offer, Ovia is creating the opportunity for the replacement of existing higher wattage panels for these more energy efficient versions to create even further energy savings.
Ovia’s premium Inceptor Slate Backlit LED panels, as well as the regular Slate Backlit panels are now available in 22W versions that produce an impressive 140 lumens per Watt output to maximise energy efficiency.
Ovia’s Inceptor Slate Backlit is a premium TP(a) rated LED Panel with a low <19 UGR diffuser. The range has been upgraded to reduce the wattage from 30W and 40W to 22W and 30W, to achieve a higher lumen output whilst consuming much less power. As well as being power switchable these new backlit panels feature selectable CCT (4000K, 5000K and 6500K) options as standard, to offer completely customisable lighting solutions. There are three sizes available - 22-30W 600mm x 600mm, 22-30W 1200mm x 300mm and 37-50W 1200mm x 600mm.
At the same time as introducing the improved Inceptor Slate LED Panel range, the company has upgraded its standard Slate Backlit Panels
which are now available in a reduced wattage of 22W, producing a 140 lumen per Watt output. These 4000K low glare 600 x 600, 22W panels are available in a TP(a) or TP(b) option. These ratings relate to the fire-rating of thermoplastic diffuser materials. Thermoplastic materials undergo specific tests to certify their ability to withstand the application of heat and fire. The requirements are established by Building Regulations Approved Document B, which sets out the fire safety of buildings. Section B2 covers internal fire spread. The difference between TP(a) and TP(b) rated materials is in their composition and thickness or how they react under test conditions when a flame is applied to them.
Inceptor Slate Backlit Panel Energy savings
In this example, Ovia looks at the overall cost savings for replacing 80 x 36W LED panels, with 80 of Ovia’s 22W LED panels.
The cost of electricity to run 80 x 36W LED panels for 10 hours per day, 5 days per week over a 52 week period - at an electricity cost of .12p (£/kWh) - would be £898.56, compared to just £549.12 for the equivalent usage for Ovia’s 22W LED panel. That’s an impressive annual saving of £349.44, which equates to an overall saving of approx. 38.9%.
28 | electrical wholesalerNovember 2024
ewnews.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44
