news digest ♦ LEDs
insight into the rapidly growing and changing LED lamp market. With the phasing out of incandescent lamps and the dislike that consumers have with compact fluorescent lamps (CFLs), LED replacement lamps have an enormous opportunity as prices fall further.
According to IMS Research SVP of Displays, LEDs and Lighting Ross Young, “The number of LED lamps becoming available to consumers is rapidly accelerating. This report represents the most cost effective way for lighting related companies to monitor the evolution of LED lamp prices, specifications and other product trends. By having analysts in six countries and speaking six different languages, IMS Research is in a unique position to track the evolution of LED lamp prices both in-store and online.”
According to the latest analysis from IMS Research, in October 2011, the global average retail price for 60W incandescent LED replacement lamps was $36, up from $34 in the previous month. Global changes in price were mostly due to fluctuations in currency values.
That being said, the average price for 60W replacement LED lamps in the US decreased mainly due to the 38% drop in the price of the Philips Ambient 60W replacement lamp from $40 to $25. This change is extremely important as 60W incandescent lamps are the most widely installed lamp in the world today. In the residential sector in North America alone, there are more than 2 billion of these lamps installed.
IMS Research also found a significant variation in the price of these lamps by region. Germany has the most expensive lamps, priced at $70, while in Taiwan; equivalent lamps are priced at $19.
According to IMS Research Lighting Market Analyst Philip Smallwood, “The LED lamp market is going to evolve at a breakneck pace in the coming years. New brands, improvements in the technology, consumer awareness and government regulations are all driving the demand for these lamps. With price being one of the most important purchasing decision factors for consumers and a healthy oversupply in the LED space as quantified in our Quarterly LED Supply/Demand Report, it will be exciting to see how quickly prices drop around the world.”
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www.compoundsemiconductor.net November/December 2011
During this research, it was also found that a lack of product standards has led to a large amount of replacement lamps being mislabelled or misrepresented. By comparing advertised replacement types with actual lumen output, IMS Research found that more than 20% of all LED lamps were mislabelled and did not meet the minimum lumen requirements to be considered as replacements.
Cree and Veeco to benefit from LED lighting demand
The general lighting market for LEDs will be the fastest-growing market, up 29 percent.
The LED market is facing significant headwinds of late. The current downturn in the LED market is largely due to reduced prices for LED-based TV backlight and lighting systems. This is because of inventory adjustments, and increased competition from more backlight makers entering the LED market. The Bedford Report examines the outlook for companies in the semiconductor industry and provides stock research on Cree and Veeco Instruments.
According to IMS’ research, backlighting, which ranges across consumer electronics such as flat panel TVs and cell phones, is expected to grow at a mere 2 percent this year, while the general lighting market for LEDs will be the fastest-growing market, up 29 percent. IMS Research’s latest “LED Supply and Demand Report” expects longer-term strength in the LED market. The firm estimates 36 percent revenue compound annual growth rate from 2010 to 2015 for packaged LEDs to $6.3B, up from $1.75B in 2011.
Reflecting on the industry in general, Cree CEO Chuck Swoboda believes the huge increase in chip production to service LED backlighting applications in recent years has put pressure on the rest of the market. On the upside, Cree is gaining strong demand for its product due to rising number of LED- based lighting designs on the market.
Veeco makes equipment to develop and manufacture LEDs, solar panels, hard disk drives and other devices and so should also benefit.
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