LED Statistics Confirm Market Dominance

The chairman of a Taiwan LED chipmaker has stated that global shipments of LED light bulbs are expected to hit 600 million units in 2013, compared to just 200 million units last year. The staggering figure shows a year-on-year growth of 300%, and Biing-Jye Lee asserts that if this level of growth can be maintained, the global number of LED light bulbs could hit 2 billion by 2014. Predications are also being made about the price gap between the favourite 40-watt retrofit LED light bulbs and their energy-saving counterparts. It is thought that the gap will start to narrow throughout 2013, confirming the LED light bulb\s status as the most budget-friendly, energy-effective lighting solution available to the public right now.

The recent revelations are just the latest in a string of news reports that emphasise the rapid growth of the LED. Back in May, DigiTimes forecast that LEDs would soon account for 5.5% of the global lighting market, whilst ElectroniCast reported that global consumption of LED linear tube lamps was up to $194 million last year, with predictions suggesting that if the growth is steadily, LED tube lamps would hit $2.37 billion sales by the year 2022.

There are a great number of reasons for the sudden interest in LEDs. The globe is experiencing a transitional period where old methods of lighting, heating and generally powering appliances are being phased out in favour of renewable and sustainable methods. LED light bulbs are one of the most energy-efficient lighting solutions on the market for both domestic and commercial purposes, and the market figures suggest that their position in the industry is about to go from present to dominant.

The average LED light bulb has a life span around fifteen to thirty times that of an old-fashioned incandescent light bulb. It costs a great deal less energy to run the bulb, resulting in vast savings, and the energy which it consumes is used efficiently. Where older bulbs wasted much of their energy on heat, LEDs have eliminated this wastage and channel the vast majority of their energy into simple, bright illumination. LEDs are also versatile. They can be used for everything from street lamps to desk lamps, and from torches to Christmas lights. Once the LED becomes a dominant force on the market, commercial ventures will be able to buy an LED for all of their lighting needs, whether it is to light a school hall or set the mood in a dimly lit restaurant.

The statistics show clearly that LEDs are well on their way to becoming the market leaders, and a world of energy-efficient, budget-friendly lighting solutions is not far away.

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