The market will double in value, from 16 million in 2012 to 33 million in 2013, with this expected to treble by 2016.
(PRWEB UK) 14 August 2013
It has been reported in DisplaySearch that the LED Lighting Market and Forecast Report predicts that the market will double in value, from 16 million in 2012 to 33 million in 2013, with this expected to treble by 2016. The report estimates that the highest growth is likely to be in LED-based tubes that replace fluorescent tubes used in commercial applications, as well as LED street lights. It is also believed that the demand for all LED lighting products will reach 90 million in 2016, with Japan and China currently leading the industry. This looks set to continue over the next few years.
Specialising in high quality LED products for commercial use as well as in the home, the team at Visible Lighting were naturally interested by the latest statistics. A representative from the firm reflects on why LEDs are growing so rapidly in popularity.
“More and more people are starting to replace their traditional incandescent bulbs with energy efficient ones, if they haven’t already done so. This is due to a number of reasons, not least of all the money they save. LEDs only lose 20% of their energy to heat, compared to 80% of traditional bulbs. With energy bills constantly rising, many are looking for more cost-effective alternatives. Environmental concerns and government incentives regarding these have also played their part in the rise of LEDS.”
Visible Lighting looks forward to reviewing the progress of these predictions.
Visible Lighting was established with a view to providing high quality lighting at affordable prices. Supplying a multitude of energy saving products, the company specialises in LED lighting including LED ceiling and wall lights, LED flood lights as well as waterproof LED striplights online. All products take advantage of the latest technology, providing customers with the best value for money. Visible Lighting places customer service as its top priority, regularly expanding its product lines.