Will the Chinese LED lighting market usher in a "springtime"?
Published Time:
2021-08-03
Compared with traditional incandescent lamps and energy-saving lamps, LED lighting products have environmental advantages such as high efficiency, energy saving, easy recycling, non-toxicity, and long service life.
Compared to traditional incandescent and energy-saving lamps, LED lighting products have environmental advantages such as high efficiency, energy saving, easy recycling, non-toxicity, and long service life.
With the intensification of the global energy crisis, the increasing environmental awareness of residents, and the technological advancements and cost reductions of LED lighting products, its economic cost-effectiveness has been continuously improving. LED lighting is gradually becoming one of the global economic development hotspots.
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%, with home and outdoor use being the main growth factors.
It is understood that dimmable LED lighting not only helps improve the indoor environment, but also helps save energy to a large extent. Due to increasing environmental awareness and the need to control energy consumption, the dimmable LED lighting market continues to grow rapidly and is expected to grow further in the coming 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 intelligent lighting, will expand the application range of LED lighting and promote the development of the LED lighting market.
In the future, with the continuous progress of packaging technology, multi-in-one SMD (Surface Mount Device), upright COB (Chip On Board), and flip-chip COB technologies will mature and be applied. Coupled with continuous upgrades in LED technology, this will significantly improve the performance of mainstream market products.
Therefore, driven by these rapidly growing market segments, the size of China's LED lighting market is expected to further grow in 2019, and is expected to exceed 700 billion yuan.
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