Asian consumers to dominate LED replacement lamp market
Market research firm Strategies Unlimited's report, "LED Replacement Lamps Market Analysis and Forecast", projects unit growth of 30% in 2012 – 2016 for LED replacement lamps. The global market is anticipated to grow from $2.2 billion in 2011 to $3.7 billion in 2016. The revenue growth will be moderated by a forecast 14% per year decline in the average selling price. The research covered LED lamps that are used in existing sockets and serve as replacements for legacy lighting sources in residential and commercial indoor applications. On the supply side, manufacturers will continue to benefit from the oversupply of LED sand governmental subsidies that aim to advance the adoption of LED lighting. On the demand side, the LED replacement market units growth rate is expected to be the highest in China at 44% CAGR. In 2011, the LED replacement A 19 bulbs were the highest selling product with Japan leading the number of units sold. Sales of PAR LED lamps and LED MR 16 were driven mostly by commercial applications in developed economies. However, this trend will be reversed as the construction sector recovers in developing countries. LED replacements for linear fluorescent lamps yielded the highest units sales numbers in China and Japan; between 2010 and 2011 the average selling price declined at 23%. The U.S. and European markets yielded fewer sales due to stricter requirements for product quality.
