The Russian lighting market has seen explosive growth in LEDs over the past year; spurred by government initiatives to increase energy efficiency in lighting products and decrease energy intensity of GDP by 40 percent by 2020. Sergey Borovkov, Managing Partner at Lighting Business Consulting LLC in Russia, spoke to LEDinside at Guangzhou International Lighting Exhibition 2014 about the current market conditions and future outlook of the Russian lighting market. 

The Russian lighting fixtures market is expected to grow by 50 percent in 2020 compared to 2012. EUR $2.2 billion should increase to EUR $3.6 billion due to upcoming international sports competions and decrease in foreign import tax.