At the 2009 10th annual Strategies in Light conference, Strategies Unlimited’s Dr. Robert Steele gave a historical perspective on the HB LED market, which went from $820m in 1999 to $5.1bn last year. Unit sales of LEDs grew by more than 25% in 2008. Not surprisingly, the highest growth sector was lighting at 39%.
Looking forward, said Steele, the “negative economic environment and bleak outlook for many LED end-use sectors indicate a lower market in 2009.”
Strategies Unlimited expects the penetration of LEDs into the lighting market to continue into 2009, but with a lower growth rate of 17%, compared with the level of 35% that was forecast previously. In the longer term, there is a positive outlook for the lighting sector, and Steele said that the market will get back on track following the economic recovery.
Looking further out, Strategies Unlimited expects growth to resume in 2010, assuming the economy as a whole recovers. Between 2008 and 2013, the compound average annual growth rate is predicted to be 19%, with the market reaching $12.4 billion in 2013.
