Among all LED applications, LED lighting has the highest estimated revenue of $4.8 billion in 2014, soaring with a CAGR of 12%. This shows that LED lighting market has entered a high growth phase. However, the prices of LED lighting products, such as lighting bulbs and tubes show a steady downfall trend.
In Dec. 2013, global 7-Watt LED bulb ASP was $15.4 and global 9-Watt LED bulb ASP was $21.5. In Dec. 2014, 7-Watt LED bulb prices were reportedly down 18.83% to $12.5, since Dec. 2013, while 9-Watt LED bulb prices was down 21.86% to $16.8.
LED bulb prices declines were most evident in China, especially for standard to mid-power LEDs. ASP for 40W equiv. bulb achieved US $7.4 in China during April 2014, while global 7-Watt bulb was US $15.4. ASP for 7-Watt bulb in China was down to $4.5 during Nov. ASP for 7-Watt bulb in China is nearly 50% of the price of global ASP in April 2014, but almost 1/3rd of global ASP 7 months later.