European LED lighting sees rapid growth
In particular, the architectural lighting and commercial lighting markets are less price-sensitive, so they have higher acceptance of LED lighting, and therefore, LED’s penetration rate sees faster growth in both markets. According to LEDinside’s “2011-2015 European LED Lighting Market Report (2012 Version),” the global LED architectural lighting market’s value will reach US$3.191 billion in 2012, making up 29% of the global LED lighting market’s value. Europe accounts for approximately 35% of the global LED architectural lighting market’s value, with a market value of US$1.12 billion. Due to LED’s assorted light colors, European countries are willing to invest in lighting design using LEDs to stimulate tourism. TrendForce points out that in the past, LED applications always adopted red, green, blue and color LEDs. However, the severe LED oversupply in 2011 caused the ASP of high-power LED to dip by 35%-40% per year.More and more architectural lighting products manufacturers began to adopt white light LEDs, which already took up over 40% of the global architectural lighting market. With white light LED’s luminous efficacy rapidly improving and its steep price drop, white light LED is expected to replace RGB/Color LED and become the main lighting source in architectural lighting by 2013.