2014 was a big year for LED sales, production and technology increases. 2015 is due to be even BIGGER.
The 2015 Lighting Industry is set to hit $82.1Bln USD, with LED accounting for $25.7Bln (31%).
The largest market for LED still is Europe, as they are typically global technology pioneers. 23% of the LED market size will be in Europe even thought they have no huge incentives or subsidies. It is due to their high energy prices and willingness to adopt new technologies.
China is close behind with a 21% share of the LED market, but mostly due to the fact that they are the main manufacturer of LED products and there is a domestic cost advantage for supply and market penetration.
Prices will likely continue to become more competitive as demand rises, and manufacturers will be facing a similar situation to solar a few years ago. Those with the best management will be left standing, and those fly by nighters with poor product and service will fall off.
The market of LED in Australia is really becoming more popular. Brisbane LED markets, Gold Coast LED markets, and Sunshine Coast LED markets are all heating up with the technology now passing through the early adopter stage.