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World LED lighting market will touch $25.7 billion in 2014

World LED lighting market will touch $25.7 billion in 2014

November 11, 2014: According to a recent report, LED lighting market worldwide will touch $25.7 billion at the end of this year (2014). The world LED lighting market will grow to $82.1 billion, as the market share will increase to 31% next year (2015). The penetration rate of the LED lighting market will touch about 70% in the next 5 years as the prices of LED lights continue to drop year on year.

By 2018, demand for LED lights worldwide will increase by 190% from that in 2013, and by 2017, the sale of LED lights will exceed that of conventional lights worldwide.

According to TrendForce report, in 2014, the top 5 LED lighting brands as per their revenues, were, Philips, Osram, GE, Panasonic and Toshiba.

With 23% of the total LED lighting market, Europe has emerged as 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.

Global LED Lighting Market Share

Europe– 23%

China–21%

USA–19%

Japan–9%

Asia Pacific– 13%

Latin America– 8%

Africa and Middle East– 7%

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Demand for LED automotive lighting increasing

The global automotive lighting market size reaches approximately US$ 26 billion (including US$ 21.2 billion generated by OEM) in 2014, representing an increase of 8.8% over 2013. The growth of the OEM market is mainly driven by two factors:

First, the automobile shipment in China and the US surges, especially the Chinese market has still maintained the growth rate of about 10% after the high-speed growth in 2013. Second, the extensive use of xenon lamps and LED raises the unit price.

By 2015, China?s economy will slow down further, so that the automotive market cannot continue to grow at 10%, whilst the American market will also decelerate. The global automotive lighting market is estimated to be US$27.6 billion in 2015, up 6.2%.

Demand for LED lights suitable for top cars (such as Audi R8 and Mercedes-Benz S series) and a few mid-range cars is rising significantly. Today, LED has been widely used in many automotive dashboard backlighting, interior lighting and brake lights. In addition, the luxury car manufacturers have significantly increased the usage of the latest LED lightings.


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