A new report by Global Industry Analysts has assessed that the worldwide market for fluorescent and non-incandescent lights like LEDs is expected to reach $94 billion by 2010. The report goes on to state that solid-state lighting using LEDs is going to play a major role in this growth because of its technological superiority, energy efficiency and portability in applications like flashlights, emergency lighting and outdoor lighting.

The report (available for download)states that the largest growth will be in the end-user sectors of the construction and industrial development industries and takes into account sales in the industrial, commercial, residential and public lighting sectors. It predicts that future product sales will be driven by the emergency of high quality products that are overwhelmingly innovative and competitively priced.

Interestingly, the report also states that the global lighting equipment market will grow primarily due to increased construction and industrial development in developing regions like China, India and the Middle East. The growth in Western Europe and North America will be slower than the global average as its increased lighting sales will be focused on updating existing infrastructure with more energy-efficient, long lasting LED lighting fixtures.

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This entry was posted on Monday, August 6th, 2007 at 11:34 am and is filed under LED Lights, LED News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.