The global outdoor LED lighting market grew significantly in 2012. In particular, China's newly installed LED street lamps accounted for 30% of global installations in 2012. Market observers believe the global outdoor LED lighting market will see major growth in 2013-2015, especially in China, Taiwan and Japan. The total output value of the global outdoor LED lighting market is expected to reach US$2.478 billion in 2013, representing an on-year growth above 46%, according to market observers.
In 2014, emerging markets such as Thailand, Russia, Latin America and Africa will also begin to switch street lamps into LED lamps. Market research predicts by 2015, the penetration rate growth of LED street lamps will begin to fall. The research stated that in the future, the total number of street lamps being switched into LED lamps and newly installed LED street lamps will likely be 10 million units per year.
Many cities in Canada and the US introduced plans to switch street lamps into LED lamps in the second half of 2012. Major international lighting firms such as Cooper Lighting, Cree, and GE Lighting have been introducing new product lines to suit such demand.
Taiwan's Bureau of Energy has announced plans with a budget of NT$2 billion (US$67 million) to switch 250,000 street lamps into LED lamps in 2013-2014. The projects will benefit Taiwan-based firms that produce chips, LED components, power supplies and heat sinks.