The global lighting market value in 2009 is about USD 73 billion & the LED lighting applications value only takes about USD 1.2 billion. Although LED lighting still accounts for less than 2% of the overall lighting market, and still mainly addresses niche applications, growth continues to be robust, at an estimated market growth averaging 31% per year, reaching 4.3 billion in 2014. In that year, overall LED market value reaching USD 20.5 billion, 56% will be accounted for by backlights for medium-to-Large LCD displays, and 21% will be accounted for by lighting applications.
Even with its obvious advantages and increasing penetration into key lighting market segments , still has a long way to mass adoption, simply cost too much; however, the penetration & growth rate will certainly be fueled by :
1. Cost reduction of LED component significantly due to increased efficiency in manufacturing
2. Federal governmental directives related to energy-saving & environmental concern
3. Governmental subsidy policy related to industry concern
4. Pursuance of energy-saving industrial standard by lighting fixture’s manufacturer e.g. ENERGY STAR
5. Inevitable gradual increase of unit electricity cost/kWh (kilowatt hour ). Currently, unit electricity
cost/kWh in Japan & Germany is relatively higher. In USA, @USD 0.25 . In HK, @USD 0.16
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