U.S. LED lighting market to reach $5.2 billion this year

<< Go Back Posted By:administrator on Apr 17,2015in Industry News

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According to a report, the U.S. LED lighting market to rise to US$5.2 billion in 2015, driven by continuoly U.S. declining LED prices cost coupled with U.S. government initiatives.

Driven by continuing innovation over the last decade, LED technology has made huge inroads into general lighting applications due to it being highly energy-efficient, cost effective and environment friendly. The U.S.A witnessed the launch of LED lighting products in early stages of technology development, and over 2010~2015 the LED lighting market has witnessed prominent growth and is gradually moving towards maturity. At present, the general lighting segment dominates the LED lighting market and is expected to account for most demand by 2020.

Continuing innovation in LED lighting technology, along with recovering construction and automobile industry U.S. and favorable government initiatives to promote the U.S.e of LED technology, are expected to positively influence the U.S. LED lighting market over 2015-2020. In addition, the ban on U.S. of incandescent light bulbs and sharply declining LED prices are expected to further boost the demand for LED lighting products in U.S..