A survey by energy-efficient lighting company, Precision-Paragon [P2], states that there is consistent growth in energy-efficient lighting industry. The survey was conducted in December based on over 2,900 energy-efficient lighting professionals throughout the U.S.
69% Of Survey Respondants Met or Exceeded Their 2011 Revenue Expectations
During the last few years, although there were challenges in economy, the energy-efficient lighting industry showed stable growth. In 2011, around 69% of the industries involved in survey either fulfilled or exceeded the revenue expectations, and anticipate better results in 2012. Future growth potential has been predicted by 80% respondents, both in individual companies or in the industry as a whole.
According to the President of Minnesota-based Retrofit Companies, Steve Kath, following the establishment of its operations like addition of staff and expansion capabilities, the company is all set to experience growth.
Precision Paragon [P2]
The respondents believe that the industry will witness increased growth during Q2 and Q3, compared to Q1. The LED-based fixtures are gaining more acceptance among the industrial markets, and lighting business increases with more deployment of LEDs. Respondents’ forecast that among the installations, 22% of the fixtures will be LED-based, which is an increase by 9% since 2011.
Despite the increasing deployment of LEDs, Linear Fluorescent technology is still widely used. About 84% of survey respondents estimate that Linear Fluorescent lighting will be the leading technology even in 2012.
One of the reasons for the industry’s growth is the emergence of rebate programs conducted by utility companies. Through these programs, owners or occupiers achieving lighting retrofit projects on their facilities have been offered incentives.