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LED light bulbs is expected to reach over 30% of total light bulb market by 2014
According to LEDinside’s survey, the global lighting market value in 2009 is about 73 billion USD, and the LED lighting market value only takes about 2.4 billion USD with only 3.3% penetration rate in LED lighting.
By: ALICE WU
While LED lighting has high efficiency, long life, and other advantages, the retail prices of the current stage LED lighting, compared with the traditional lighting, still exist a 4-6 times price gap, which is quite difficult for most consumers to accept it. Therefore, LED lighting still has a long way to go to become more common.
The key to popularize LED lighting are as follows - subsidy policies, industry standards, LED lighting cost reduction, supply chain integration and other factors. Currently, Asian countries are the most supportive and positive for LED lighting subsidy policies and also relatively fast in standard-setting. Under the vigorous expansion of LED lighting manufacturers, LED lighting costs continue to decline.
The conditions of LED lighting industry present different situations as the electricity fee and subsidy policies differ in each individual country. Currently, the electricity fee in Japan, Germany and other countries are relatively higher than other regions, so the usage of high-efficient LED lighting applications is in a much more rapid progress compared to other countries.
In LED lighting applications, the incandescent light bulbs will be banned in 2012, which gives LED lighting market an enormous business opportunity. LED light bulbs, of all lighting applications, will be the fastest growing application. LEDinside estimated that the penetration rate of LED light bulbs is expected to reach over 30% of total light bulb market by 2014.
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