Improved LED luminous efficacy and lowered LED product prices contributed to higher consumer acceptance levels and rising penetration rates in 2012, with Japan ranking as the largest LED residential lighting market in 2012, followed by Europe and North America. However, China's residential lighting's global market share is also growing, according to research firm LEDinside.
China's LED residential lighting market will reach US$814 million in 2013 to represent a 24% share of the overall global market. The LED residential lighting market development in other regions including Europe, the US, Japan, Taiwan and emerging markets is also being spurred by establishment of policy standards, and manufacturers promotion of product and pricing strategy, the firm said.
China has extended its 2013 SSL product fiscal subsidies to 30 million lights, including residential lighting products. However, the average Chinese consumer's understanding of LED lamps remain limited, with only 25% surveyed able to accurately identify LED bulbs, according to a recent LEDinside Chinese market survey.
In 2012 Taiwan's LED bulb shipments reached 1.34 million units and are estimated to grow 20% in 2013 to 1.61 million.
