Japan LED lighting market value to reach $5.39 billion

<< Go Back Posted By:administrator on May 11,2015in Industry News

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Residential lighting demands have grown the most in 2014, and is expected to soar by another 90% in 2015, far above commercial lighting and industrial lighting’s projected growth rates of 37% and 57% respectively. LED bulbs and LED tubes, which are the most traditionall lighting products on the market, reported penetration rates rose to 20% and 15% respectively.

According to a research report, demand for all types of lighting products in the Japan market in 2015 is estimated at a total value of JPY646 billion (US$5.39 billion) and LED lighting will account for 78.6%.

Viewing that growth in LED lighting demand in the Japan market will slow down as LED lighting penetration has been the highest around the world, leading Japanese LED lighting companies, as reflected in their business strategies and development plans for fiscal year 2015, will shift focus operations to commercial and market-niche segments, lighting system integration and high value-added applications to avoid price-cut competition.