As the newest silvery VIP market report by the international market research institution LED inside of TrendForce pointed out that international market of LED lighting permeability is growing rapidly and the total value of LED lighting will be $17.8 billion in 2014, the shipping quantity of overall LED lighting products will reach 1.32 billion, a year-on-year increase of 68%.
LED inside indicates the tide of international LED lighting products substitution is a result of the price decline and the substitution light products are the most obvious ones among them. LED bulb and tube are the most popular ones in the market, taking up to 38% and 25% of the lighting products respectively. Additionally, the need of integrated LED lighting products will slowly soar on the future especially those combing intelligent lighting application. Therefore, it is estimated that proportion of LED lighting products in 2014 may grow year by year.
Proportion of international LED lighting products need in 2013
Among the various areas of LED lighting markets, the governments from the North American market is increasing its support towards LED lighting. American Energy Star planned to increase subsidy of lighting products to further decrease the price of lighting products. Manufacturers like GREE are optimistic towars the development of LED lighting market in 2014 and predict the sales growth of substitution lighting products to be the core business in the near future. The data of LED inside shows the increase of LED lighting products in North American are will reach 72% in 2014.
In addition, LED lighting market in the countries like Brazil in Latin American is developing rapidly and it is expected the growing rate of LED lighting products may increase to 64%, especially the growth of LED commercial lighting market. In European area belonging to the mature market although there is no large-scale of subsidy policy, the high-price electricity and the distinction of light culture, making consistent demand for commercial lighting and outdoor construction situation lighting application.
While in the market of China, not only the newly-developing LED manufacturers are actively distributing LED lighting market, the traditional lighting manufacturers boasting the advantages of brand and channel are also busy exploiting LED lighting business combining online and physical stores. The Chinese government is taking an active role to improve the development of LED industry by subsidy policy, at the same time solve the problems of business failure and excessive production capacity led from excessive upstream equipment subsidy. LED inside predicts that the growing rate of LED lighting products in China will increase to 86% in 2014.