According to a new study from ElectroniCast Consultants, the consumption of LED lamps in the US was US$891 million in 2012. The firm forecasts the consumption value will reach US$2.77 billion in 2017 representing an average annual growth rate of 25.5% (2012-2017).
"In the study, we added the high bay lamp category, as well as low bay/specialty flood lamps. High bay lamps are the most common type of lighting used in commercial facilities, such as warehouses, grocery stores, gymnasiums, and other large indoor spaces with high ceilings. LED-based luminaries are beginning to replace the traditional high intensity discharge (HID), metal halide (MH) and florescent lamps," said Stephen Montgomery, principal analyst at the firm.
"Even though we are forecasting very steep average selling price declines for the LED-based high bay lamp, we predict the category to increase at nearly 20% per year in value," Montgomery added.
The Multifaceted Reflector (MR) compatible is forecast for very impressive growth, as the LED solution continues to provide equivalent brightness and competitive pricing versus the (traditional) halogen MR lamp. LED-based general service lamps, such as "A-19" lamps are forecast for annual growth of over 30% as households' find alternative lighting to the incandescent bulb. Also, LED-based Linear (tube) lamps, which are emerging as a competitor of fluorescent tubes, are forecast to reach a consumption value of over US$150 million in the year 2017, the firm added.
The primary appeal of LED street lighting is energy efficiency compared to conventional street lighting fixture technologies. According to ElectroniCast, the number of LED-based streetlights deployed in the US will increase at an annual rate of over 40% (2012-2017); however, the average selling price (ASP) is forecast to drop dramatically over the forecast period.
