LEDs will account for 52% of commercial lighting by 2021
New York City — A new report from Pike Research forecasts that LEDs will capture 52% of the commercial lighting market by 2021. Pike, a cleantech market intelligence firm, anticipates that LED lighting costs for various SSL products will be reduced by 80% to 90% in many cases during the next decade.
The report, “Energy Efficient Lighting for Commercial Markets,” finds that while the market share of solid-state lighting is still low, LEDs are gaining significant momentum as an alternative to incandescent and fluorescent lighting in commercial buildings, particularly as the cost of the technology continues its rapid decline.
“LEDs represent perhaps the most significant breakthrough of the last 130 years in lighting technology,” said research analyst Eric Bloom. “The production of white LEDs, which began in the late 1990s, is starting to transform the lighting industry, and the transition to this new technology is likely to occur very quickly."
According to Bloom, incandescent and less efficient T12 and T8 fluorescent lamps will be almost completely eliminated during the next 10 years. To take more than 50% of the market, LEDs will take share from compact fluorescent lamps (CFLs), high-intensity discharge (HID) lighting, and general linear fluorescents.
The forecasts that the global market for commercial lighting will reach $42 billion in 2011, and experience a peak of nearly $54 billion in 2012 before gradually declining to about $30 billion by 2021. The decline will be due to the extended lamp life of both fluorescents and LEDs as they become the primary lamp types, increasingly displacing demand for replacements for less efficient and shorter-lived incandescent lamps.
An Executive Summary of the report is available for free download on the firm’s website.
Union deal helps A&P get out of bankruptcy
MONTVALE, N.J. — A&P announced that it has reached an agreement with its labor unions that would help the retailer on its path out of bankruptcy.
According to The Star-Ledger, a New Jersey-based paper, the members of more than a dozen local chapters of the United Food and Commercial Workers International Union approved a deal that would cut wages about 3% by a vote of 7,200 to 1,827. Union members would still receive health care without a co-pay charge, the paper reported.
“This agreement with our labor unions marks a significant milestone in our turnaround efforts,” said Sam Martin, A&P’s president and CEO, in a press statement. “I want to thank our associates for their steadfast commitment to serving our customers throughout this process. As we position the Company to emerge from Chapter 11 early next year with a much stronger financial and operating foundation, we intend to continue making operational and service improvements to further enhance the value and in-store experience we provide to our customers.”
A&P agreed to a joint financingcommitment from The Yucaipa Companies, Mount Kellett and investment funds managed by Goldman Sachs Asset Management. The U.S. Bankruptcy Court for the Southern District of New York granted approval of the investment agreement on Nov. 14, contingent upon successful resolution of the company’s negotiations with its labor unions.
A&P and its subsidiaries filed voluntary Chapter 11 petitions on Dec.12, 2010.
Nook helps salvage B&N sales
NEW YORK — Increases in Nook products helped offset a decline in physical book stores atBarnes & Noble during the second quarter. Total sales for the period ended Oct. 29, 2011, slipped 0.6% to $1.89 billion from $1.90 billion in the year-earlier quarter, with the biggest drop occurring at the chain’s college stores. Online revenue grew 17% in the quarter to $206 million, which the company attributed to increases in sales of ebooks and its Nook line of e-reading devices.
The company posted a worse-than-expected net loss of $6.6 million for the second quarter, compared with a net loss of $12.6 million a year ago.
“The launch of Nook Tablet, combined with the product enhancements to Nook Color and $99 Nook Simple Touch, represents the highest-quality portfolio of digital reading products on the market at incredible values,” said William Lynch, CEO of Barnes & Noble Inc. “We expect to sell millions of devices during our third quarter, adding to the millions of current Nook customers. This growing base of customers buying digital content from Barnes & Noble will continue to position us as one of the fastest growing companies in this exploding digital content market, and we project this will generate significant returns on our investments for years to come.”