Global LED Market to Reach US$33.1 Billion in 2017 - Energy Watch News

Global LED Market to Reach US$33.1 Billion in 2017

Global LED lighting market will hit US $29.6 billion in 2016 and increase to US$ 33.1 billion in 2017, with a penetration rate of 52%, according to a report by TrendForce Further, the report said that LED lighting will account for 23% (highest across the globe) of entire lighting in Europe by 2016, due to regional lighting development. Meanwhile, North America and China will become second and third highest regions. However, Asia- Pacific region will witness fastest growth rate in LED lighting, added the report. Industrial and LED commercial lighting demand is strong across the nation, among which demand for high bay lights, panel lights, and tunnel lights is the highest. Hence, they are now beginning to move towards new application areas such as optical and intelligence communications.

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