Lighting & Electrical
LED lighting market to grow rapidly by 2023
October 23, 2018
The LED lighting market is set to rapidly expand, indicating a shift away from incandescent and fluorescent lighting.
According to P&S Market Research, the global LED lighting market is expected to grow at a compound annual growth rate of 12.6% between 2017 and 2023.
That will see this sector of the lighting market valued at US$70.2 billion (A$95 billion) in five years’ time.
This indicates a huge switch from incandescent and fluorescent lighting. Not surprisingly, this trend is largely due to the higher energy efficiency of LED lighting.
The report quotes projections from the US Department of Energy that the energy consumed by lighting in the US will fall by 40% by 2030.
The picture is likely to be similar in other developed countries.
That’s not to say LEDs are the final word in lighting. The report points to research on laser-based lighting that could exceed the performance of LED lights.
Implications for recycling
LED light globes are renowned for their longevity.
However, nothing lasts forever, and this report provides an indication of the extent to which LED lights will start to enter the waste stream in coming years.
At present, fluorescent tubes and compact fluorescent lamps make up a large proportion of waste lighting.
The mercury contained in these types of lighting makes a compelling argument as to why they should be recycled.
But LED lights are generally considered to be safer from an environmental point of view.
That could see us become complacent about recycling LED light bulbs, and revert to the lazy option of dropping them in the rubbish bin.
However, LEDs may not be as safe as many people think. Some LEDs can contain significant quantities of lead, copper, nickel and silver that, at high enough levels, can cause health and environmental problems.
The best solution? If you are already recycling mercury-based lighting, continue to do the same with LED lighting waste.
And if you aren’t recycling lighting, now is the ideal time to start.
Ecocycle accepts all types of lighting for recycling.
We provide convenient, pre-paid collection boxes delivered to your door. When the boxes are full (they hold about 300 globes or fluorescent tubes), just give us a call and we will arrange pickup.
Are you dealing with bigger quantities of lighting waste? No problem. We can provide stillages or other bins that hold thousands of lamps and tubes.
It’s easy to get started. Just call us on 1300 32 62 92 or fill out the form below and we’ll be happy to explain how it all works.