Solid State and Other Energy Efficient Lighting Systems, Application Market worth US$53.5 Billion by 2015
Thursday, 02 January 2014
The global solid state and other energy efficient lighting systems market is expected to grow from $28,248.7 million in 2010 to $53,469.5 million in 2015, at an estimated CAGR of 9.7% from 2010 to 2015.
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.
Amongst all the market segments, the compact fluorescent lamps command the largest share in terms of revenues, while light emitting diode is the second largest market due to the globally increasing demand for energy efficient lighting, which, in turn, has arisen due to the shift of the governments’ focus worldwide towards environmental concern to protect the planet from global warming. While light emitting diode contributed 31.2% to the global solid state and other energy efficient lighting systems market revenues in 2010, organic light emitting diode market is expected to have the highest CAGR of 44.0% from 2010 to 2015
The U.S offers a lucrative market to solid state and energy efficient lighting manufacturers as it is to grow at a CAGR of 10.7% from 2010 to 2015. The Asia Pacific is the largest market in the world and has 44.7% share of the global market revenues. Europe comes second in revenues and has the second highest CAGR
Industry participants with the most significant product developments include Philips, Osram, General Electrics, Nichia, Cree, Samsung, and so on. Major players also differ from one technology to other. Philips, Osram, and General Electrics are the largest players in CFL market. However, in light emitting diode market, Nichia, Osram, Lumileds, Cree, and Samsung are the largest players.
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