TechSci research report recently published in the American LED lighting market and opportunities, 2020 “, according to the LED lighting market is expected to reach $5.2 billion in 2015, the main factors driving the LED demand include: LED falling prices due to lower production cost, plus the government incentives, such as the energy policy act of 2005, increase the propensity to consume to adopt green technology.
According to TechSci research report recently published in the “LED lighting market forecast and opportunities in the United States,” in 2020, according to a us LED lighting market is expected to reach $5.2 billion in 2015, the main factors driving the LED demand include: LED falling prices due to lower production cost, plus the government incentives, such as the energy policy act of 2005, increase the propensity to consume to adopt green technology.
Clarets, philips, GE and osram are “major players” in the us LED lighting market.
These leading players are expected to see their respective market shares grow during the forecast period due to their broad product portfolio and competitive pricing strategies.
The report said that as LED prices fall, government support measures will boost the U.S. LED lighting market.
Thanks to continuous innovation over the past decade, LED technology has gained significant market share, especially in general lighting applications, due to its high energy efficiency, high cost performance and environmental friendliness.
The United States has witnessed the early stages of LED lighting product technology development, and in the past five years, LED lighting market has shown amazing growth and gradually mature.
General lighting, backlight and automotive are the main applications of LED terminals.
Currently, the general lighting segment dominates the LED lighting market and is expected to account for the majority of the market demand by 2020.
Karan Chechi, director of research at TechSci, said, “the continued innovation of LED lighting technology, the need for retrofitments of old building lighting, the need for the automotive industry, and favorable government measures have all had a positive impact on the adoption of LED technology, which will drive and consolidate the U.S. LED lighting market over the next five years.
In addition, the ban on incandescent light bulbs and the sharp decline in LED prices are expected to further drive domestic demand for LED lighting products.”
Post time: Nov-14-2019