Global LED Market to Reach $14.8 Billion by 2015

Global led high bay light supplier is expected to witness rapid growth, led by increasing demand for efficient displays and lighting fixtures along with the rising awareness levels about energy conservation. Though high prices restricted the initial use of LEDs to a small group of applications (which included decorative lighting, exit signs, architectural lighting, and entertainment lighting), the current LED market is relatively broad in terms of end-use applications and encompasses notebook PCs, LCD TVs, residential and commercial lighting, handsets, and signals and displays. Improvements in luminous efficacy and application technologies of LEDs led to their utilization in backlights, landscape lighting, traffic lights, and automobile lights. Due to rising environmental concerns, most of the governments are focusing on phasing out of incandescent lights, replacing them with energy efficient LED lights. Short-term growth is likely to be propelled by the growing popularity of LED TVs and notebooks, while general lighting segment is expected to drive market growth in the long run, as stated by the new market research report on Light Emitting Diode (LED) market. Mobile phones emerged as the leading end-use market with more than 25% share of value sales for 2009, while led high bay light for sale is expected to post the fastest growth in terms of volume sales. The market is also expected to benefit from rapid technological advancements that are expected to bring down the number of chips per box as well as the average selling price of LEDs.
Although the global economic crisis significantly influenced the operations of LED market in 2009 leading to a sales decline in major LED utilizing sectors such as mobile phones, large outdoor displays and automotive, the decline was partly offset by the increasing use of LEDs in segments such as backlights for notebook PCs and LCD televisions, apart from the lighting sector.