July 2014 - Market UpdateNAICS-33511
About Jack Berlin
Aqila Teen, NAED Researcher
manufacture
Bulb manufacture
Lamp Bulb
light Bulb manufacture
Lamp Bulb manufacture
Electric
industry
Ligh ng
Source IBISWorld
Ligh ng System
manufacture Lamp Bulb
NAICS
Electric Lamp Bulb
Revenue
North American industry
July 2014 - Market UpdateNAICS-33511
About Jack Berlin
Aqila Teen, NAED Researcher
manufacture
Bulb manufacture
Lamp Bulb
light Bulb manufacture
Lamp Bulb manufacture
Electric
industry
Ligh ng
Source IBISWorld
Ligh ng System
manufacture Lamp Bulb
NAICS
Electric Lamp Bulb
Revenue
North American industry
<p>US Ligh(ng & Bulb Manufacturing Market Update NAICS-‐33511 Aqila Teen, NAED Researcher July 2014 Source: IBISWorld.com 1 US Ligh(ng & Bulb Manufacturing July 2014 Source: IBISWorld.com 2 2.8 2.5 2.5 2.4 2.1 2.4 2.2 2.3 2.3 2.2 2.2 2.1 2.1 2.1 2.0 0 1 1 2 2 3 3 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 Revenue and Forecast ($bn) Key External Drivers * Demand from building, developing and general contrac(ng * Import penetra(on into the manufacturing sector * Government funding for highways * Housing starts * Price of nonferrous metals * Trade-‐weighted index US Ligh(ng & Bulb Manufacturing Comparison to US Electrical Equipment Wholesaling US Ligh(ng & Bulb Manufacturing US Electrical Equipment Wholesaling July 2014 Source: IBISWorld.com 3 2.8 2.5 2.5 2.4 2.1 2.4 2.2 2.3 2.3 2.2 2.2 2.1 2.1 2.1 2.0 0 1 2 3 4 5 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 120 128 137 137 121 136 144 148 157 161 167 168 172 182 192 0 50 100 150 200 250 Revenue in ($bn) as of 5/2014 Revenue in ($bn) a of 7/2014 * Figures are infla(on adjusted 2014 Dollars Products & Services Segmenta(on July 2014 Source: IBISWorld.com 4 Nonresiden(al ligh(ng systems, 45% Infrastructure ligh(ng systems, 18% Residen(al ligh(ng systems for new homes, 15% Other, 12% Other residen(al ligh(ng systems, 10% US Lighting & Bulb Manufacturing Major Companies 49% 17% 15% 19% Koninklijke Philips NV General Electric Company Osram Sylvania Other Companies Market Share Major players • A major player is a company that generates more than 5% of industry revenue. • Ohen companies that have less than 5% market share are listed if they are fast growing or have an unique business model. • Only the revenue earned by the company in this industry is calculated. • The chart shows the market share of each major player and the collec(ve concentra(on of all dominant industry players. July 2014 Source: IBISWorld.com 5 US Lighting & Bulb Manufacturing Industry Performance • The Ligh(ng and Bulb Manufacturing industry produces a range of products including electric light bulbs, tubes, parts and components. However, this industry excludes light-‐emi ng diode (LED) and ligh(ng fixtures manufacturers. In the past five years, the industry has struggled with rising import penetra(on and increasing input costs, which constrained revenue and profitability growth. Addi(onally, the increasing subs(tu(on of LEDs for tradi(onal ligh(ng systems has decreased demand for industry products. As a result of these factors, industry revenue is expected to remain fairly stagnant, increasing at an average annual rate of 0.7%. Although this slight growth masks industry declines, it accurately reflects the results of increased construc(on ac(vity as well as recovery from recessionary lows. However, external compe((on from imports and LED products will con(nue to pressure the industry, and revenue is expected to contract 2.6% in 2014 to $2.2 billion. • Greater import penetra(on of inexpensive products, largely from Chinese manufacturers, has threatened industry revenue during the past five years. With lower wages and fewer overhead costs, Chinese manufacturers have been able to produce high-‐quality products at lower prices compared with domes(c companies. Furthermore, the rising strength of the US dollar in recent years has made imported industry products even more appealing to US consumers. As a result, US manufacturers have grappled with increased price compe((on and have been forced to lower prices, constraining both industry revenue and average profit margins. • Poor industry performance is expected during the next five years, as contractors and homeowners alike are expected to increasingly opt for LED-‐ligh(ng systems over ��industry products, significantly reducing downstream demand; import penetra(on levels are an(cipated to con(nue growing, bolstering price compe((on for domes(c manufacturers. As a result, industry revenue is projected to decrease at an annualized 1.4% to about $2.0 billion during the five years to 2019. Along with revenue, industry companies and employees are expected to decrease in the next five years. July 2014 Source: IBISWorld.com 6 US Lighting & Bulb Manufacturing Key Financial Sta(s(cs July 2014 Source: IBISWorld.com 7 Year Revenue* ($m) IVA ($m) Establishments (Units) Enterprises (Units) Employment (Units) Exports ($m) Imports ($m) Wages ($m) Domes(c Demand ($m) Value of private nonresiden(al construc(on ($m) 2005 2,830 822 95 71 9939 895 2112 573 4047 421 2006 2,486 735 95 72 9057 826 2219 516 3880 452 2007 2,485 723 94 78 9371 782 2700 504 4403 509 2008 2,379 731 94 72 8965 760 2526 514 4144 540 2009 2,129 587 85 66 8060 620 2078 476 3587 438 2010 2,358 637 88 71 7973 693 2391 500 4056 366 2011 2,246 628 89 73 7762 660 2447 464 4033 374 2012 2,288 647 90 74 7762 633 2511 467 4166 422 2013 2,259 642 89 74 7629 632 2602 459 4229 438 2014 2,199 631 88 73 7413 592 2609 445 4216 464 2015 2,177 623 88 73 7304 586 2698 438 4289 505 2016 2,142 606 87 73 7152 556 2922 429 4508 550 2017 2,136 604 87 72 7086 543 3234 425 4827 585 2018 2,108 592 86 72 6957 537 3386 417 4957 581 2019 2,045 574 81 70 6769 545 3532 404 5032 610 * Figures are infla(on adjusted 2014 Dollars Appendix I - US Lighting & Bulb Manufacturing • The market size is based on the North American Industry Classifica(on System(NAICS). NAICS is the standard used by Federal sta(s(cal agencies in classifying business establishments for the purpose of collec(ng, analyzing, and publishing sta(s(cal data related to the U.S. business economy. • This report covers NAICS category, 33511 Electric Lamp Bulb and Part Manufacturing. • Operators in this industry manufacture a range of products, including electric light bulbs, tubes, parts and components. However, this industry excludes light-‐emi ng diode (LED) and ligh(ng fixtures manufacturers. • The next slide shows a complete list of segments covered in this market size and forecast. July 2014 Source: IBISWorld.com 8 1 North American Industry Classifica(on System. (2013, September 13). Retrieved January 22, 2014, from census.gov: hnp://www.census.gov/eos/www/naics/ 2 NAICS Associa(on. (2014, January 22). 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers . Retrieved January 22, 2014, from naics.com: hnp:// www.naics.com/censusfiles/ND423610.HTM Appendix II - US Lighting & Bulb Manufacturing Industry Defini(on 1,2 Automotive light bulbs manufacturing Health lamp bulbs, infrared and ultraviolet radiation, manufacturing Bulbs, electric light, complete, manufacturing High intensity lamp bulbs manufacturing Coating purchased light bulbs Incandescent filament lamp bulbs, complete, manufacturing Cold cathode fluorescent lamp tubes manufacturing Infrared lamp bulbs manufacturing Compact fluorescent light bulbs manufacturing Lamp bulb parts (except glass blanks), electric, manufacturing Decorative lamp bulbs manufacturing Lamp bulbs and tubes, electric (i.e., fluorescent, incandescent filament, vapor), manufacturing Electric lamp bulb parts (except glass blanks) manufacturing Lamp bulbs and tubes, health, infrared and ultraviolet radiation, manufacturing Electric lamps (i.e., light bulbs) manufacturing Lead-in wires, electric lamp, made from purchased wire Electric light bulbs, complete, manufacturing Light bulbs manufacturing Electrodes, cold cathode fluorescent lamp, manufacturing Light bulbs, sealed beam automotive, manufacturing Electrotherapeutic lamp bulbs for ultraviolet and infrared radiation manufacturing Mercury halide lamp bulbs manufacturing Filaments for electric lamp bulbs manufacturing Photoflash and photoflood lamp bulbs and tubes manufacturing Flash bulbs, photographic, manufacturing Sealed beam automotive light bulbs manufacturing Flashlight bulb manufacturing Sodium vapor lamp bulbs manufacturing Fluorescent lamp tubes, electric, manufacturing Strobotrons manufacturing Fluroescent lamp electrodes, cold cathode, manufacturing Ultraviolet lamp bulbs manufacturing Glow lamp bulbs manufacturing Vapor lamps, electric, manufacturing Halogen light bulbs manufacturing X-mas tree light bulbs manufacturing July 2014 Source: IBISWorld.com 9 1 North American Industry Classifica(on System. (2013, September 13). Retrieved January 22, 2014, from census.gov: hnp://www.census.gov/eos/www/naics/ 2 NAICS Associa(on. (2014, January 22). 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers . Retrieved January 22, 2014, from naics.com: hnp:// www.naics.com/censusfiles/ND423610.HTM Appendix III - US Lighting & Bulb Manufacturing Industry Defini(on 1,2 July 2014 Source: IBISWorld.com 10 1 North American Industry Classifica(on System. (2013, September 13). Retrieved January 22, 2014, from census.gov: hnp://www.census.gov/eos/www/naics/ 2 NAICS Associa(on. (2014, January 22). 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers . Retrieved January 22, 2014, from naics.com: hnp:// www.naics.com/censusfiles/ND423610.HTM Appendix III - US Lighting & Bulb Manufacturing • Automo(ve light bulbs manufacturing • Health lamp bulbs, infrared and ultraviolet radia(on, manufacturing • Bulbs, electric light, complete, manufacturing • High intensity lamp bulbs manufacturing • Coa(ng purchased light bulbs • Incandescent filament lamp bulbs, complete, manufacturing • Cold cathode fluorescent lamp tubes manufacturing • Infrared lamp bulbs manufacturing • Compact fluorescent light bulbs manufacturing • Lamp bulb parts (except glass blanks), electric, manufacturing • Decora(ve lamp bulbs manufacturing • Lamp bulbs and tubes, electric (i.e., fluorescent, incandescent filament, vapor), manufacturing • Electric lamp bulb parts (except glass blanks) manufacturing • Lamp bulbs and tubes, health, infrared and ultraviolet radia(on, manufacturing • Electric lamps (i.e., light bulbs) manufacturing • Lead-‐in wires, electric lamp, made from purchased wire • Electric light bulbs, complete, manufacturing • Light bulbs manufacturing • Electrodes, cold cathode fluorescent lamp, manufacturing • Light bulbs, sealed beam automo(ve, manufacturing • Electrotherapeu(c lamp bulbs for ultraviolet and infrared radia(on manufacturing • Mercury halide lamp bulbs manufacturing • Filaments for electric lamp bulbs manufacturing • Photoflash and photoflood lamp bulbs and tubes manufacturing • Flash bulbs, photographic, manufacturing • Sealed beam automo(ve light bulbs manufacturing • Flashlight bulb manufacturing • Sodium vapor lamp bulbs manufacturing • Fluorescent lamp tubes, electric, manufacturing • Strobotrons manufacturing • Fluorescent lamp electrodes, cold cathode, manufacturing • Ultraviolet lamp bulbs manufacturing • Glow lamp bulbs manufacturing • Vapor lamps, electric, manufacturing • Halogen light bulbs manufacturing • X-‐mas tree light bulbs manufacturing July 2014 Source: IBISWorld.com 11 </p>