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The LED industrial lighting market has enjoyed accelerated growth in recent years owing to the rising demand worldwide and government subsidies, says LEDinside, a division of TrendForce. According to LEDinside’s latest report, 2016 Industrial Lighting: Explosion-Proof Lamps, the market of LED industrial lighting is forecast to grow from US$2.93 billion in 2016 to US$5.20 billion in 2020, representing a CAGR of over 15% during the five-year period.
LEDinside, a division of TrendForce, reports that both the 40W-equivalent (equiv.) and 60W-equiv. LED light bulbs suffered decline in their global average retail prices in January. The price of the 40W-equiv. dropped 3.3% from December to US$10.3, while the price of the 60W-equiv. ended up at US$14.1, amounting to a 2.5% monthly decline.
The revenue of the global semiconductor foundry industry is projected to grow by just 2.1% year on year for 2016 on account of slowing end market demand and expanding supply, according to the global market research firm TrendForce. The competition among major semiconductor manufacturers is therefore going to intensify as well.
The latest report by LEDinside, a division of TrendForce, revealed that the global average price of 40W-equivalent (equiv.) LED light bulbs arrived at US$10.6 in December 2015, down 1.6% from November. The global average price of 60W-equiv. LED bulbs for the same month also dropped 0.7% to US$14.5.
LED manufacturers are branching into the niche application markets as the competition in their industry expands. Currently, entering the automotive LED market is regarded as a blue ocean strategy because the market has relatively few contestants and allows for higher pricing. According to the latest Gold Member Report – 2016 LED Market Demand and Supply Analysis by LEDinside, a division of TrendForce, the worldwide market value of exterior automotive LEDs for 2015 is expected to reach US$1.21 billion.
