Will China's LED lighting market usher in "spring"?
Compared with traditional incandescent lamps and energy-saving lamps, LED lighting products have environmental protection advantages such as high efficiency, energy saving, easy recycling, non-toxic, and long service life.
With the intensification of the global energy crisis, the increase of residents’ awareness of environmental protection, as well as the technological progress and cost reduction of LED lighting products, its economic and cost-effectiveness continue to increase. LED lighting is gradually becoming one of the hotspots of global economic development. .
Recently, according to data, in the past five years, the global LED lighting market has grown from approximately US$22.9 billion in 2012 to approximately US$55.1 billion in 2017, with a compound annual growth rate of approximately 19.2%. Outdoor use is the main growth factor.
It is understood that dimmable LED lighting not only helps to improve the indoor atmosphere, but also helps to save energy to a greater extent. Due to the increasing awareness of environmental protection and the need to control energy consumption, the dimmable LED lighting market still maintains rapid growth and is expected to grow in the next few years.
At the same time, the use of Internet of Things communication connection technology to connect lighting equipment and related sensing equipment, and the emergence of such smart lighting will expand the scope of LED lighting applications and promote the development of the LED lighting market.
In the future, as packaging technology continues to advance, all-in-one SMD (surface mount device), formal COB (chip-on-board packaging), flip-chip COB and other technologies will mature and be applied, along with LEDs The continuous upgrading of technology can promote a substantial improvement in the performance of mainstream products in the market.
Therefore, driven by such rapidly growing market segments, China's LED lighting market is expected to grow further in 2019, which is expected to exceed 700 billion yuan.
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