Plus, the lamps have become much more affordable. They use almost half the energy of CFLs, last at least five times longer and have the option of repair. According to a 2012 study by the global consulting firm McKinsey & Company, between 2011 and 2012, the unit price of LEDs dropped from 13.36 to 10.55 EUR, a figure that is expected to tumble to as low as 2.81 EUR by 2020. “ In some countries, the price of LED lamps is expected to become competitive with CFLs as early as 2015, which will further speed up the transition from CFLs to LEDs," asserts the report. It is a remarkable jump when n /■ compared with the current picture, some 13 per cent today. With China and Japan taking the lead, Asian consumers have been singled out to dominate the LED lighting market.