BERLIN, June 25, 2012 /PRNewswire/ --
With an expected double digit annual growth through 2018, the German LED lighting sector is expanding rapidly. The new energy era in Germany has sparked a greater focus on the life of energy sources, in addition to taking a fresh look at the energy supply. LED and OLED companies are well positioned for the next growth phase within the lighting industry, say Germany Trade & Invest experts, who will be at this year's LED/OLED Expo in South Korea from June 26 until June 29.
"The energy revolution in Germany is enabling many infrastructural upgrades. Several German cities have already begun testing LEDs in street lamps and in buildings," stated Jonathan Schoo, electronics and microtechnology expert at Germany Trade & Invest in Berlin. "The German automobile industry is also exploring the advantages of LEDs, which could draw in valuable investments," continued Schoo.
The LED lamp industry in Germany is expected to produce a compound annual growth rate of 27 percent between 2008 and 2018, according to Frost & Sullivan, a market research company. Many municipalities in Germany see 50 percent of total energy costs being devoted to lighting. Newly installed LED fixtures have the potential to bring down energy used in street lighting by 80 percent.
"There is a call for foreign investment to support increasing LED installations. Germany provides an excellent infrastructure and a skilled workforce for international companies interested in taking advantage of the recent energy shift in the country," concluded Schoo.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest
SOURCE Germany Trade and Invest