Lighting industry survey confirms LED lighting market growth
A survey of lighting manufacturers at the Hong Kong International Lighting Fair pointed to growth in the solid-state lighting market.
Cree says that the survey results validate strong global growth for LED lighting applications, confirm awareness of the energy-efficiency benefits of LEDs and indicate that the adoption trend should continue through the end of the decade.
Respondents represented top decision-makers at lighting manufacturers who attended the event, which is the largest lighting show in Asia and the second largest in the world. Nearly half the respondents were from outside Asia.
Key survey findings include:
• Nearly three-quarters (72 percent) of respondents have witnessed a growth rate in excess of 20 percent for LED lighting applications in their businesses over the past six months.
• Almost two-thirds of respondents (63 percent) believe LED lighting will comprise more than 50 percent of their sales or installations by 2009.
• Future growth in the LED lighting market is expected to come from a mix of applications – with street/parking (20 percent), residential indoor (17 percent), retail/display (17 percent) and office (15 percent) cited as the leading opportunities.
“The survey results present us with a clear and positive picture of growth patterns and expectations from leaders in fixture design and manufacturing,” said Greg Merritt, director of corporate marketing, Cree. “The survey shows an increasing demand for the high-quality, energy-efficient LEDs that Cree currently provides and is continuing to develop.”
“The general illumination market is at a tipping point,” Merritt said. “Cree’s industry-leading XLamp family of high-performance cool- and warm-white LEDs is uniquely positioned to serve the needs of lighting manufacturers who are ready to capitalize on this growth.”