The output of the LED industry is set to grow by 30 percent annually and will be worth 450 billion yuan ($72 billion) in 2015, including 180 billion for lighting devices, the National Development and Reform Commission (NDRC) said in a statement released Sunday on its official website.
In 2015, LED functional lighting products will have a market share of over 20 percent, and LED back lighting and LED outdoor lighting will have a market share of over 70 percent and 80 percent, respectively, the NDRC said.
Compared with traditional lighting products, LED lights can save electricity by 30 percent for road lighting, over 60 percent for lighting rooms, over 50 percent for back lighting, and over 80 percent for outdoor lighting, with a total annual savings of 60 billion kilowatt-hours of electricity, equal to 21 million tons of coal.