including residential lighting

Fiser pointed out that upstream technology has significantly boosted the power efficiency of LED lighting, and that the efforts of downstream companies to add innovative functions to their lighting products will help expand LED's share of the global lighting market.Despite the lingering market pessimism which may last through 2013 and bring even greater challenges to LED lighting companies, the anticipation of a growing market share for LED lighting gives reason for optimism.Robert Yeh, chairman of Everlight Electronics, predicted that the oversupply of upstream LED chips will continue into 2014, dragging down the prices of LED chips and final led lighting products and thus strengthening market demand.The optimism of Philips is not without foundation. According to news reports, the company has been undergoing reorganization in the past few years and has closed unprofitable businesses like TVs, semiconductors, and monitors. Its lighting business is not only being retained but expanded, mainly to keep up with demand in the global LED lighting market. This new type of lighting is bringing new hope to the old company, which has been in business for more than a century.

The current lighting market encompasses more than 80,000 kinds of lighting products, including residential lighting, office lighting, outdoor lighting, transportation lighting, factory lighting, medical lighting, and auto lights, among others. The LED is expected to broaden the field of lighting applications even further.The sliding LED prices will continue to encourage consumers to buy the new-generation lighting products,” commented TrendForce, an industrial research body, in an industrial report compiled by its LEDinside division. “In terms of market areas, Japan is the most-fast-growing LED lighting market in the world. In Japan, lighting stores set an annual target for LED lighting sales—roughly 30-50% of overall sales, and most stores recorded that they have reached 70-90% of the annual target in October.” These figures imply a bright performance for LED lighting sales in Japan in 2012.

According to TrendForce, the LED high bay lighting market developed much earlier in Japan, where LED lighting appeals to consumers with its strong advantages of power efficiency and much longer life cycle, than in other countries. TrendForce estimated that annual LED bulb sales there would grow 2.6% in 2012, the small percentage of growth indicating that Japan's LED lighting market has reached a certain level of maturity. The continued growth, though small, constitutes a sharp contrast to the downturn in other areas.Shenzhen is another market with growing LED lighting sales in 2012. Compared to Japan, Shenzhen's LED lighting market is lagging; in fact, it is still in the initial stage of development.

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