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Global demand for LED lamps expected to increase in 2014

Global demand for LED lamps expected to increase in 2014

Taipei, Dec. 31 (CNA) Worldwide demand for LED lights will soar in 2014 as prices fall and they become more competitive with conventional lighting, according to a market research firm. "The global LED lamp replacement wave has arrived," LEDinside said in a research note.
Global demand for LED bulbs and LED tubes will increase by 86 percent and 89 percent in 2014, respectively, from a year ago, the firm projected. LEDinside analyst Terri Wang said the strong demand resulted from lower prices, with LED lighting products falling to "levels similar" to more conventional lights. The falling prices have considerably shortened the period needed to recoup the cost of LED bulbs, making it more cost effective for commercial and public venues to replace less efficient bulbs, Wang said. Beyond lower costs, special projects and subsidy programs in regional markets have also made a significant contribution to the rise in LED lighting penetration, Wang said. The Energy Star subsidy program, for example, is still carried out in various parts of North America, and the subsidies have made the price of LED lights more palatable to consumers, the analyst noted. Elsewhere, national policies barring incandescent lamps have been implemented successively and have also played an important role in promoting LED lighting market development, according to Wang. "Such factors will bring forth strong demand for LED lighting in 2014," she said. (By James Lee)


Updated : 2020-12-05 17:25 GMT+08:00