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US demand for advanced lighting is forecast to surpass $10 billion by 2015 on annual increases of about eight percent. A government-mandated phaseout of less efficient general service lamps will drive gains in the residential market, while a trend toward energy-efficient lighting will fuel growth in other markets.
Through 2015, demand for LEDs will post the fastest gains, spurred in part by their replacement of general service incandescent lamps. Improvements in power and quality of light coupled with a dramatic decrease in the price of LEDs will greatly expand their use in general lighting applications. Products such as CFLs, halogen lamps, and LEDs stand to benefit the most. By 2015, CFLs will lead the residential market for advanced lighting in terms of units. In the long run, US residential demand for advanced lighting is forecast to shift away from CFLs toward LEDs.
Though advanced lighting products already account for a majority of the lighting used in motor vehicles, the motor vehicle market has been gradually moving away from the use of halogen lamps in favor of metal halide lamps and LEDs. Metal halide lamps, used predominantly as headlights. LEDs, which are just beginning to find use in headlights, will benefit from growth in the production of electric powered vehicles, as highly efficient LED headlights can extend an electric vehicle’s range.