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The European LED lighting market is growing rapidly due to energy-saving awareness and, in particular, the high electricity prices in Europe, according to TrendForce’s ‘2011-2015 European LED Lighting Market Report’ by its LED research division LEDinside. With electricity prices in the EU-27 (the 27 member states of the European Union), $2 can be saved each month by adopting an LED light bulb instead of an incandescent bulb. The market research firm predicts that LED prices will see a dramatic drop, starting from 2012, and it expects the European LED commercial lighting market to grow to $1.9bn by 2015.