Monday, January 14, 2013

LED lighting market expected to double in 2014

The government's decision to ban incandescent bulbs by 2014 does seem to be timely. The pace at  how the development and improvement of the existing LED technology is moving forward makes it very likely that this type of lighting is becoming viable.

In my previous post, I was a bit critical and skeptical about the timing and of our government's capability to  ban them altogether.

According to industry research (part of which is appended below), sales of LED-related lightings will double in slightly a year's time. Malaysia is also targeting 2014 to start using LED street lightings.

The following table by thecleanrevolution  shows device efficacy and price trends until 2020. Prices are expected to continue to decline over the next 5 years as demand and production ramp up.

Note: KLM = 1000 lumens


Sales to double and performance to improve rapidly

While estimates vary widely throughout the lighting industry, a new report by Strategies Unlimited predicts that LED lighting sales should double by 2014. The independent report stated that LED lighting should be an $8.3 billion dollar industry by that time, according to rapidonline.com

"LEDs are getting so much better, and the market is flooded with them so there are so many to choose from," Victoria Lee, lighting designer, told the news source.

Strategies Unlimited accounts for the spike in growth due to increased consumer awareness of the energy-saving qualities of the lighting source, improvements in performance and the influx of readily available commercial products for home use, businesses and industrial capacities.

In addition, with the onset of the global economic recession, more and more countries have instituted fiscal stimulus measures that include energy-efficient lighting such as LEDs. The wide-scale phasing out of incandescent lighting has also attributed to the industry's surging growth. The economic downturn has consumers spending more wisely, so they will try anything to reduce the prices of their utility bills.

Ref: Birddog Diostributing


So, yeah, let's light up the streets and malls with LED and save energy.

5 comments:

rainfield61 said...

LED is the future trend.

tehr said...

aku pernah juga jenguk2 dan belek2 lampu LED ni kat kedai
tapi mahal la
huhu

Chelsea Richards said...

No surprise to hear it when it already made a huge statement in the current market statistics… :D
USALEDSolutions.com

led lamps said...

Yes, I believe in it because demand for LED lights is increasing day by day.

Andrew said...

Noe almost in each country it is compulsory to use LED lights instead of incandescent light. It is a very good step of government to save a very crucial resource electricity. LED lights are very helpful to save energy and they are economical also. When you have placed an LED light bulb, then no need to replace it for many years so, you can imagine LED lights are so much important in money saving also.