Posted by Bernard Herrok on December 09, 2009
Legislation for banning inefficient lamps, together with customer and consumer awareness of the cost-of-ownership analysis, will create a huge demand for LED replacement globes well into the future.
Market and global conditions are optimal for the LED replacement globe market to greatly accelerate and succeed in the next few years. Although the market for LED replacement lamps is still in its very early stages of development and uptake amongst consumers, LED lamp revenues are forecast to increase at a annual growth rate of 107% through 2013.
Dramatic performance and design improvements in commercially-available LED lights in recent years, as well as significant cost reduction, have made it feasible to design LED lamps to offer comparable lumen output and to compete with other established lighting technologies on the basis of cost of ownership.
The market is in a state of flux as utilities, energy-efficiency organisations and customers look for optimum solutions which save energy, minimize the cost of ownership, and give acceptable quality of light. Consumers are in the process of being educated about comparing cost of ownership, rather than looking just at the initial price of lamps.
The value of saving energy monthly coupled with far less carbon emission output are making the decision to move toward LED lights much easier for consumers, in Australia and around the world. The overall savings produced by installing LED Lights far outweigh the initial cost of the globes themselves.
All prices are in AUD