LED lighting development soar 2015 U.S. market reached $5 billion 200 million

Global market research and consulting firm TechSci Research recently said that the U.S. LED lighting market reached $5 billion 200 million in 2015.

The report said that with the decline in LED prices coupled with government support initiatives will promote the U.S. LED lighting market. In the past ten years of continuous innovation, LED technology because of its high efficiency, cost-effective, environmentally friendly, has achieved a huge market share, especially in general lighting applications. The United States witnessed the early stages of the development of LED lighting technology, and in the past five years, the LED lighting market has shown a phenomenal growth and gradually mature. The main application of LED terminal is general lighting, backlight and automotive. At present, the leading part of the general lighting LED lighting market is expected to account for most of the market demand by 2020.

According to TechSci research report recently published by the "American LED lighting market forecast and opportunities, 2020", the LED lighting market is expected in 2015 will reach $5 billion 200 million. The main factors driving the LED demand include: due to lower production costs caused by LED prices continue to decline, coupled with the U.S. government to encourage initiatives, such as the energy policy act of 2005 the increase of the green technology, consumption tendency. CREE, PHILPS, GE and OSRAM are some of the major players in the US LED lighting market". These leading players because of their wide range of products, highly competitive product pricing strategy, are expected to witness their respective market share growth during the forecast period.

TechSci research director Karan Chechi said: "LED lighting technology innovation, the old building lighting renovation needs, automobile industry demand and favorable government measures have a positive influence on the promotion of the use of LED technology, in the next five years will promote the city lighting LED field, the market is increasingly consolidating. In addition, the prohibition of the use of incandescent lamps and a sharp decline in the price of LED is expected to further promote the demand for LED lighting products in the United states. "

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).