In 2013 several high-bay LED products were launched that provide exceptional quality in a price range that allows for acceptable paybacks from energy savings, according to Navigant Research, which predicts the high-bay lighting market is set for a rapid shift, similar to the shift toward LED lighting that has already begun in commercial buildings.
The importance of the falling prices of LED luminaires and lamps cannot be overstated, finds Navigant in its report “High-Bay Lighting: Energy Efficient Lighting and Lighting Controls for Warehouse, Industrial, Sporting, Retail, and Transportation Facilities.”
Within the next 3 years, falling prices and rising efficacy will begin to generate savings that offer payback periods of less than 2 years. That will create a tipping point for the large-scale adoption of LED lighting within high-bay applications.
Navigant’s report also says the falling cost of lighting sensors and lighting controls will drive the adoption of networked lighting control systems. As the marginal cost for including such systems in lighting upgrades shrinks to a relatively insignificant amount, many high-bay lighting installations will begin incorporating these sensors and controls almost by default.
Navigant forecasts that global sales of high-bay luminaires and lamps will increase through 2017, when annual revenue will peak at almost $17.0 billion. The increase in revenue through 2017 will be driven primarily by the rising adoption rate of more expensive LED luminaires and lamps in new construction and retrofits.