Global LED Market Value Increased to USD21.6 Billion in 2019

Press Release - Dec 22, 2015

Shenzhen, China, December 22, 2015 (Newswire.com) - In 1880, Thomas Edison made the first incandescent bulb which changed the world in 50 years. LED leads the market with bigger share than energy saving lamps in only 6 years. Recently, PennWell estimates the LED market value will be increased from USD15.5 billion in 2015 to USD21.6 billion in 2019, with CAGR 7%.

The biggest driving forces are from general illumination and car illumination. From 2020, the global LED market’s growth will slow down, replacement lamps market will be full, growth mainly gain from other fields, such as wearable devices, plant growing lighting, etc.

LED for lighting is on the fast growing stage, especially in the period from 2014 market value USD5.3 billion to 2019 market value USD9.1 billion, with CAGR 12%. Its share in the global LED market will be increased from 34% in 2014 to 42% in 2019.

Get down to the application fields, in the following 5 years general illumination will lead the growth. Its share in the global LED market is 75% in 2014, among which replacement lamps takes a share of 50%, while commercial lighting, industrial lighting, outdoor lighting, residential lighting takes a share of 25%.

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