By BizLED Bureau
By October 1, 2015: The trends in the global LED lighting market are changing fast. Not only the technology is advancing at a high pace, the buying and selling trends are also shifting in fast. Prices of LED bulbs are falling continuously; their capabilities are increasing, and their manufacturing is becoming efficient and cost-effective. Let?s find out the current trends of the LED lighting market.
Continuous drop in prices
While surveying the market, we found that prices of LED bulbs have gone down tremendously in the past two years. For example, a 60W equivalent LED bulb which cost $20-25 each dropped to $6-15 each. Many major brands have LED bulbs starting from $10 each. The average LED lamp retail price worldwide is $23.50 per unit, which is a fall of 9.4% from that last year.
With 23% of the total LED lighting market, today Europe is the largest LED lighting market. As electricity price in Europe is quite high, demand for LED lights is increasing, particularly, for commercial and architectural lighting applications. On the other hand, China holds 21% of the total LED lighting market. USA has a 19% share of the total global market for LED lighting. Japan has a 9% share of the global LED lighting market. The rest of the 28% of the world LED lighting market comprises of markets that are still emerging like Asia Pacific with 13% share, Latin America with 8% share and Africa and Middle East with 7% share.
Users also demand LED bulbs integrated with wireless lighting control. Lutron Electronics, a lighting control manufacturer, has developed GE telligent wireless dimming LED integrated with wireless technology. The bulb can be fitted into the existing socket, and the remote can control up to 10 bulbs.
Consumers also prefer quality LED bulbs that will not only perform well but will also be energy and cost effective. They desire LED bulbs that emit cool white light for the kitchen or soft white light for the living room. Brands are also making efforts to give the consumers highest quality LED bulbs with optimal energy savings.
Consumers desire LED options for every application. They need LED bulbs for table lamps to recessed lighting. Now major companies like GE Lighting are offering LED bulbs for enclosed fixtures, ceiling flush mount fixtures, LED work lights with hardwire connections, etc.
A lot more variety
The LED bulbs available in the market range from the ordinary and standards ones to products for special needs. While there are specific LED bulbs for specific applications, there are also very special ones and customised ones. You can also get LED bulbs that will fit unusual sockets like the socket of a ceiling fan. This year, major brands like Philips, Definity, Sylvania, GE, Feit, LEDtronics, ThetaLux, GeoBulb, EagleLight have also launched LED bulbs that are rquivalent to 40W, 60W or 100W.
LED bulbs are much brighter
LED bulbs are much brighter today. Three years back, the LED bulbs were not bright enough. But now an LED bulb equivalent to 100W is much brighter and much efficient than the ones found three years back. In the last one year, for LED lamps, lumens per dollar ratio has gone up by 17.5% to 30.2 lumens per dollar?the more lumens, the brighter the bulb is.
Colour of the light
LED bulbs are now found in colours like yellow, red, blue, green, and different shades of white, which range from warm while to cool white. The LED bulbs found today have higher CRI number, hence the objects lit by the LED bulb appears natural. Many companies offer LED bulb that are UL listed and comply with standards. Many are also qualified with Energy Star.
Makers giving new twists to products
Now, manufacturers are not only making the LED bulbs more efficient and cost-effective, but they are also keeping an eye on the shapes and sizes of the bulbs. In a competition to be different, today manufacturers offer LED bulbs in different shapes and sizes with different direction of lights. For example, Ecosmart LED bulb throws light on the sides. These bulbs are transparent and the LEDs inside can be seen. Phillips also has LED bulbs in unique shapes. They have bulbs with white frosted shell and ones that are transparent. Philips 100W equivalent gives out light in all directions. Today, LED bulbs from major manufacturers like GE, Philips, Cree, Sylvania LED bulbs are eco-friendly with high-performance and loaded with different options. LED bulbs are found in a bulb shape that casts light in all directions; there are also LED bulbs in floodlight shape that give light in one direction. An A-line shape LED bulbs that are commonly used in table lamps have become popular, and its demand will significantly pick up by 2016, as stated by IMS Research.
Aesthetics also play a major role. Today, you will get several fixtures with LED bulbs integrated into them. While there are ceiling fixtures and wall mounted fixtures, there are also many other unique types like SMD LED fixtures, COB LED fixtures, etc.
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