According to Japan-based Toshiba Lightech, Japan's LED lighting market is expected to account for around 40% of the global LED lighting market from 2012-2013 with penetration rate expected to exceed the global penetration rate. In addition, Toshiba Lightech estimates the CAGR of the global LED lighting market from 2010-2020 to reach 31% due to rapid decreases in price and market growth in Europe, the US, and China.
According to Tooru Shibuya, president and CEO of Toshiba Lightech, the firm introduced LED light bulbs in 2009, and in 2011, the LED light bulb market output in Japan exceeded 30 million units causing rapid price falls. In 2012, LED light bulb retail prices fell below JPY2,000/unit (US$22/unit), said Shibuya. LED lighting penetration rate is expected to reach close to 60% in 2015, added Shibuya.
Digitimes Research stated that in 2012, sales of LED technology accounted for 50% of total revenues reported by the lighting business unit of Toshiba Lightech, approximately JPY86 billion. Digitimes Research believes the figure will increase to JPY130 billion in 2014.
Katsumi Sato, CEO of Panasonic Lighting Americas, stated the corporation's revenues from solid state lighting are expected to increase to JPY125 billion in 2012 due to product expansion.
Digitimes Research predicts that Panasonic currently has 10% of global lighting market share. The firm will continue to expand its ceiling and LED tube lighting product lines in 2013, said Digitimes Research.
