Prices of mainstream LED package products in the Chinese market dropped slightly in September, according to the latest price report released by LEDinside, a division of TrendForce.

Major LED package products in the Chinese market have seen notable price declines in August, according to the latest report from LEDinside, a division of TrendForce.

The market value of LED lighting has continuously expanded in the past years with the progress of the technology. According to the latest report of LEDinside, LED lighting market scale will reach US$ 33.3 billion in 2019 and LED lighting market penetration will come to 63 percent in 2022 from 22 percent in 2017.

The global 40W equiv. LED bulb Average Selling Price (ASP) declined 3.2 percent to US $14.20 in May, with price decreases most evident in China. Additionally, the ASP for 60W equiv. LED bulbs dipped slightly by 3.6 percent to US $19.50. With continual LED bulb ASP declines, manufacturers are looking to smart bulbs to break free from intense pricing competition, according to the latest LED bulb retail findings for May 2014 from LEDinside, a division of research organization Trendforce. 

The influx of affordable, but good quality LED bulbs from Chinese manufacturers into the Korean market is causing concern among small and medium size companies (SMEs), according to a recent report by Korean media. 

Global 40W equiv. LED bulb Average Selling Price (ASP) dipped slightly by 1.3 percent in March to US $14.9, with price decrease most evident in China, according to latest LED bulb retail findings for March 2014 from LEDinside, a division of research organization Trendforce’s. ASP for 60W equiv. LED bulbs basically remained flat at US $ 20.8. 

Technology improvements for general service lighting, driven by federal efficiency standards, are leading to increased reliability and bulb life. As efficiency increases, residential electricity consumption for lighting declines over time. Although the initial purchase price is higher for more efficient technologies than for traditional bulbs, significant savings are achieved over the life of the bulb (also called a lamp).

The LED industry is entering a rapid growth phase in the lighting sector in 2014. Global LED bulb shipment volumes doubled from 520 million in 2013 to 1.1 billion in 2014. Tube lighting also increased with 2013 shipment volumes rising from 230 million to 400 million in 2014, according to data revealed by Epistar during the East Asia Pacific Standards and Spec Development Conference. LED chip design still maintains a 6-12 month transition period while LED package technology undergoes changes every 1-2 years.