SemiLEDS, Revolution lift off, possibly sparked by report on China's LED market

|By:, SA News Editor

SemiLEDS (LEDS +19.8%) and Revolution Lighting Technologies (RVLT +11%) break upward, with the move possibly sparked by a report by Lux Research which sees China's LED lighting market more than doubling to $7.4B in 2017.

Lux believes LED lighting will grow at a CAGR of 24% through 2017, far outpacing the 5.6% CAGR of the overall lighting market. And, it forecasts residential LED sales to skyrocket at a CAGR of 92% to $310M in 2017 from $23M in 2013.

The firm cites ongoing urbanization, local energy savings targets, and price cuts, all factors that make LED lighting tech more appealing.