Sat, 31 Mar 2012 10:03:12 GMT , from
Strategies Unlimited, the leading market research company which covers LEDs and LED lighting, projects unit growth of 30% in 2012 -- 2016 for LED replacement lamps. The global market will increase from $2.2 billion in 2011 to $3.7 billion in 2016. The revenue growth will be moderated by a forecast 14% per year decline in the average selling price. The research covered LED lamps that are used in existing sockets and serve as replacements for legacy Lighting sources in residential and commercial indoor applications.
On the supply side, manufacturers will continue to benefit from the oversupply of LED sand governmental subsidies that aim to advance the adoption of LED lighting.
On the demand side, the LED replacement market units growth rate is expected to be the highest in China at 44% CAGR. In 2011, the LED replacement A 19 bulbs were the highest selling product with Japan leading the number of units sold. Sales of PAR LED lamps and LED MR 16 were driven mostly by commercial applications in developed economies. However, this trend will be reversed as the construction sector recovers in developing countries.
LED replacements for linear fluorescent lamps yielded the highest units sales numbers in China and Japan; between 2010 and 2011 the average selling price declined at 23%. The U.S. and European markets yielded fewer sales due to stricter requirements for product quality.
LED Replacement Lamps Market Analysis and Forecast is the latest in a series of reports on LED lighting by Strategies Unlimited. Founded in 1979, the company has been conducting research on the LED market since 1994. Based in Mountain View, California,. Strategies Unlimited is a research unit of PennWell Corporation, a global media and information company. PennWell’s many brands include LEDs Magazine, Solid State Technology, and Laser Focus World.