Rapid Growth in European LED Lighting

Spirit supply to LED Lighting markets, so we are always keeping up to date with the latest industry news.

Last week it was announced that the LED lighting market’s compound annual growth rate will hit 38% in the next five years, becoming another mature LED market besides Japan.

The announcement came from LEDinside, the LED research division of TrendForce. Their findings show that In particular, the architectural lighting and commercial lighting markets are less price-sensitive, so they have higher acceptance of LED lighting, and therefore, LED’s penetration rate sees faster growth in both markets.

Due to LED’s assorted light colors, European countries are willing to invest in lighting design using LEDs to stimulate tourism. In the past, LED applications always adopted red, green, blue and color LEDs. However, the severe LED oversupply in 2011 caused the ASP of high-power LED to dip by 35%-40% per year. More and more architectural lighting products manufacturers began to adopt white light LEDs, which already took up over 40% of the global architectural lighting market. With white light LED’s luminous efficacy rapidly improving and its steep price drop, white light LED is expected to replace RGB/Color LED and become the main lighting source in architectural lighting by 2013.