Market grows very slowly for High Lumen LED lights in the year 2015

This year has been very difficult for companies in the LED lights industry. While LED lighting products are seeing rising demands and have replaced numerous traditional products in different applications, their average selling prices have gone down by 30~40% owing to oversupply.

According to the stastics from some famous global organization, the value of the market for high lumen LED lights products is projected to grow 2% year on year to US$14.52 billion in 2015. Some expert that the industry will start consolidation next year with companies merging or being driven out of business. With uncompetitive players exit, the industry will gradually reorganize itself.