|By PR Newswire||
|January 16, 2013 01:26 AM EST||
NEW DELHI, January 16, 2013 /PRNewswire/ --
LED Lighting Systems Have Witnessed a Fall of 30 per cent in Their Prices Over the Last 2 to 3 Years
With awareness about green energy and energy savings, the applications of LED lighting products are increasing, pushing down prices. This is also posing a challenge to manufacturers as they now need to meet the demand for low cost products. This has been revealed by an Electronics Bazaar report on the current trends in LED lighting industry.
LED lighting systems have witnessed a fall of 30 per cent in their prices over the last two to three years due to improvement in technology. "With more and more applications of this energy saving lighting source, prices will further decline, which will make these products more affordable for the commercial and residential segments," says Ramesh Chopra, Vice Chairman, EFY Group.
Another trend witnessed by the market is a shift towards manufacturing of low and mid-power LEDs because high power LED technology has still not matured, and only a few big players who have excellent technical know-how are making good quality high power LEDs. "Since most of the companies are trying to improve the lumen per dollar ratio so that the product becomes commercially viable, they are going for low and mid power LEDs. However, for industrial lighting, only high power LEDs can be used," explains Ravi A V, General Manager, Nichia Corporation India.
On the demand side, LED lighting products like downlighters and streetlights are mainly in demand, particularly by institutions and government departments. LED display products are also becoming very popular and acceptable in India, hence many firms have started manufacturing them locally.
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About Electronics Bazaar:
Launched in 2007, Electronics Bazaar magazine, a publication of EFY Group, is today South Asia's No. 1 electronics B2B sourcing magazine. It is a treasure trove of information related to manufacturers, buyers, dealers and distributors dealing in electronics products and hardware. It gives a complete insight of the electronics B2B market. To know the current trends, latest products, new technologies, new manufacturing facilities, emerging sectors, etc, Electronics Bazaar is the ideal B2B magazine.
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