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Global LED lighting shipments to approach $17.8B in 2014

Posted: 20 Nov 2013     Print Version  Bookmark and Share

Keywords:TrendForce  LED lighting  LEDinside 

According to the latest forecast from LEDinside, a research arm of TrendForce, the value of the LED lighting market in 2014 will rise to $17.8 billion with total shipments of LED lighting products reaching 1.32 billion units. This represents a 68 per cent YoY growth, added the market research firm.

LEDinside suggests that the global LED lighting product replacement tide is caused by the fall in LED product prices. With replacement lamp being the most obvious, bulbs and tubes are the most popular ones in the market, which account for 38 per cent and 24 per cent of LED lighting product demand in 2013, respectively. In addition, the demand for LED luminaires in future will gradually rise, especially that the products combined with intelligent system will draw greater attention from the market. As a result the proportion of LED luminaires is expected to increase year by year.

In North America, the U.S. government's efforts to support the LED lighting is gradually increasing, Energy Star and other subsidies have grown, prompting further reduce in the price of LED lighting products. CREE and other manufacturers are optimistic about the LED lighting market development in 2014, and it is expected that the sales growth of replacement lamps will be the next business growth focus. According to the data from LEDinside, the growth rate of LED lighting market demand volume in North America is expected to reach 72 per cent in 2014.

In addition, in Latin American countries such as Brazil, LED lighting market is growing rapidly, especially the LED commercial lighting market, and the growth rate of LED lighting market demand volume is expected to reach 64 per cent in 2014. As a mature market, although Europe does not have massive subsidies, its high electricity price and the lighting culture differences market the demand of commercial lighting and architectural lighting market to continue. As the ban of incandescent lamp is being implemented in the next few years, it is estimated that the market will continue to show steady growth trend. The growth rate of LED lighting market demand volume in Europe is expected to reach 69 per cent in 2014.

In terms of the Chinese market, not only are the emerging LED lighting manufacturers actively extending LED lighting market, traditional lighting manufacturers with own brand and channel advantages are also actively expanding LED lighting business through both online and stores. The Chinese government is also trying to play an active role to promote the LED industry development through subsidy policies as well as seeking to resolve overcapacity and business bankruptcy caused by excessive subsidies for the upstream LED industry. LEDinside estimates that the growth rate of LED lighting market demand volume in China is will reach 86 per cent in 2014.

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