The use of LEDs to illuminate buildings and outdoor spaces reduced the total carbon dioxide emissions of lighting by an estimated 570 million tons in 2017, according to IHS Markit. LED lighting uses an average of 40% less power than fluorescents, and 80% less than incandescents, to produce the same amount of light.
“The efficiency of LEDs is essentially what makes them environmentally friendly,” said Jamie Fox, principal analyst, lighting and LEDs group, IHS Markit. “Therefore, LED conversion is unlike other measures, which require people to reduce consumption or make lifestyle changes.”
LED component and lighting companies were responsible for reducing the global carbon footprint by an estimated 1.5% in 2017, and that number is likely to continue to grow as more LEDs are installed around the world.
Players in the LED Market
Based on an analysis of IHS Markit data, Nichia can claim credit for having saved the most carbon overall — accounting for 10% of all LED lighting reduction achieved in 2017, or 57 million tons of carbon dioxide. Cree followed Nichia with 8%, while Lumileds, Seoul Semiconductor, MLS, Samsung and LG Innotek each have a share in the range of 4% to 7%.
China has become a major market for LEDs. In November, it was announced that the China LED lighting market is forecast to go beyond $24 billion by the end of year 2024. Escalating urbanization, price cuts and local energy savings targets make the technology more tempting. Lighting items are vital to the advancement of the national economy and people’s livelihood. Apart from that, China’s lighting industry has been on the rise and the country has become a leading world lighting consumer and producer for the past 20 years.
Vendors mentioned in this article:
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