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The future global LED lighting market will show three major trends

With the increasing attention of countries around the world to energy conservation and emission reduction, the improvement of LED lighting technology and the decline in prices, and the introduction of bans on incandescent lamps and the promotion of LED lighting products in succession, the penetration rate of LED lighting products continues to increase, and the global LED lighting penetration rate reached 36.7% in 2017, an increase of 5.4% from 2016. By 2018, the global LED lighting penetration rate rose to 42.5%.

The regional development trend is different, has formed a three-pillar industrial pattern

From the perspective of the development of various regions in the world, the current global LED lighting market has formed a three-pillar industrial pattern dominated by the United States, Asia and Europe, and presents Japan, the United States, Germany as the industry leader, Taiwan, South Korea, mainland China, Malaysia and other countries and regions actively follow the echelon distribution.

Among them, the European LED lighting market continued to grow, reaching 14.53 billion US dollars in 2018, with a year-on-year growth rate of 8.7% and a penetration rate of more than 50%. Among them, spotlights, filament lights, decorative lights and other growth momentum for commercial lighting are the most significant.

American lighting manufacturers have a bright revenue performance, and the main revenue from the United States market. The cost is expected to be passed on to consumers due to the imposition of tariffs and higher raw material prices in the Sino-US trade war.

Southeast Asia is gradually developing into a very dynamic LED lighting market, thanks to the rapid growth of the local economy, a large amount of infrastructure investment, a large population, so the demand for lighting. The penetration rate of LED lighting in the Middle East and Africa market has increased rapidly, and the future market potential is still foreseeable.

Future global LED lighting industry development trend analysis

In 2018, the global economy was turbulent, the economy of many countries declined, the market demand was weak, and the growth momentum of the LED lighting market was flat and weak, but under the background of the energy conservation and emission reduction policies of various countries, the penetration rate of the global LED lighting industry was further improved.

In the future, with the continuous development of energy-saving lighting technology, the protagonist of the traditional lighting market is being converted from incandescent lamps to LED, and the extensive application of new generation information technology such as the Internet of Things, the next generation Internet, cloud computing, and smart cities have become an inevitable trend. In addition, from the perspective of market demand, emerging countries in Southeast Asia and the Middle East have strong demand. Forward-looking forecast, the future global LED lighting market will show three major development trends: smart lighting, niche lighting, emerging national lighting.

1, smart lighting

With the maturity of technology, products and the popularity of related concepts, it is expected that the global smart lighting will reach 13.4 billion US dollars in 2020. Industrial and commercial smart lighting for the largest application field, because of the characteristics of digital, smart lighting will bring more new business models and value growth points for these two areas.

2. Niche lighting

Four niche lighting markets, including plant lighting, medical lighting, fishing lighting and Marine port lighting. Among them, the market in the United States and China has rapidly increased the demand for plant lighting, and the demand for plant factory construction and greenhouse lighting is the main driving force.

3, emerging countries lighting

The economic development of emerging countries has LED to the improvement of infrastructure construction and urbanization rate, and the construction of large-scale commercial facilities and infrastructure and industrial zones has stimulated the demand for LED lighting. In addition, the national and local governments’ energy conservation and emission reduction policies such as energy subsidies, tax incentives, etc., large-scale standard projects such as street lamp replacement, residential and commercial district renovation, etc., and the improvement of lighting product standards certification are promoting the promotion of LED lighting. Among them, the Vietnamese market and the Indian market in Southeast Asia are growing the fastest.

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