MarketsandMarkets Presents Solid State and Other Energy Efficient Lighting Systems, Application Market worth US$53.5 Billion by 2015 http://www.marketsandmarkets.com/Market-Reports/emerging-lighting-technologies-and-global-market-120.html
According to a new market research report, “Solid State and Other Energy Efficient Lighting Systems, Application and Market Trends(2010 – 2015)” published by MarketsandMarkets (www.marketsandmarkets.com), the total global solid state and other energy efficient lighting systems market is expected to be worth US$53.5 billion by 2015; out of which the CFL market will account for nearly 31.2% of the total revenue. The global market is expected to record a CAGR of 9.7% from 2010 to 2015. Browse 68 market data tables and in-depth TOC on Solid State and Other Energy Efficient Lighting Systems, Application and Market Trends (2010-2015). http://www.marketsandmarkets.com/Market-Reports/emerging-lighting-technologies-and-global-market-120.html Early buyers will receive 10% customization of reports.
The field of lighting has witnessed dramatic technology developments in the past few decades, especially in the subfields of solid state lighting and other energy efficient lighting technologies. Conventional incandescent bulbs are likely to reach obsolescence with the arrival of high-brightness LEDs or light emitting diodes. LED lighting is gaining double digit growth because of its unique features that include high energy efficiency, high efficacy, long working life, and robust weather proof design. Lighting accounts for 20% of total energy consumption worldwide; and about 29% of total energy consumed for domestic purposes. The imminent ban on the use of incandescent bulbs in the U.S. and parts of Europe and Asia will significantly boost the solid state and other energy efficient lighting market. The global solid state and other energy efficient lighting market is estimated to reach $53.5 billion in 2015 from about $33.6 billion in 2010.
The Asia Pacific region dominated the solid state and other energy efficient lighting market in 2008 and stood at $13.0 billion in 2009, and was expected to have the largest market share in 2010 and comprises 46.3% of the global solid state and other energy efficient lighting market in 2010. Asia has a large pool of solid state and other energy efficient lighting market products manufacturers due to the lower labor and overall low manufacturing costs in the region and is also a major consumer. Developed economies such as the U.S. and Europe are also major consumers of these products. The concern for healthy environment in developed economies is one of the major drivers for solid state and other energy efficient lighting market. The solid state and other energy efficient lighting products are also environment friendly as they produce less carbon dioxide and consume less energy, thereby reducing the coal consumption for electricity generation.
The increasing demand for energy-saving and environment-friendly lighting technology is driving the growth of the global solid state and other energy efficient lighting systems market. The global solid state and other energy efficient lighting systems market is expected to grow from $33,630.3 million in 2010 to $53,469.5 million in 2015, at an estimated CAGR of 9.7% from 2010 to 2015. The three main submarkets of the solid state and other energy efficient lighting market are products, applications, and technologies. The product market is segmented into submarkets for light emitting diodes, organic light emitting diodes, compact fluorescent lamps, cold cathode fluorescent lamps and high intensity discharge. The segment with the most market potential is light emitting diodes and it is expected to grow at a CAGR of 17.3% from 2010 to 2015 due to its growing penetration into backlighting and pure lightings application markets.
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