Increasing LED manufacturers are turning to emerging markets that hold high growth potential as maturing Europe, Japanese and U.S. markets become saturated.
Due to their high reliance on LED chips, components and package imports, emerging markets including Thailand, Russia, and India hold many business opportunities for LED manufacturers.
The global lighting transition from incandescent light bulbs to LED light bulbs was spurred by governments’ decision to phase out incandescent light bulbs. Developing countries are following developed countries incandescent bulb ban, for example, India rolled out a project in 2009 to replace 400 million incandescent bulbs with CFLs by 2012. Local government incentives to lower LED bulb prices, such as those launched by Electricity Generating Authority of Thailand are also encouraging consumers to purchase LED bulbs.