2019 global LED lighting industry analysis

The policy continues to improve and the product penetration rate continues to increase.

In order to improve energy efficiency, protect the environment, and respond to global climate change, as the most advanced new high-efficiency energy-saving lighting products, LED lighting products are the key promotion products of energy-saving lighting in the world. Previously, because the price of LED lighting products was higher than that of traditional lighting products, its market penetration rate has been at a low level.

With the increasing attention of countries around the world in energy conservation and emission reduction, the improvement of LED lighting technology and the decline in prices, and the favorable policies of countries that have banned the sale of incandescent lamps and promoted LED lighting products, the penetration rate of LED lighting products has been continuously improved. The global LED lighting penetration rate reached 36.7%, up 5.4% from 2016. By 2018, the global LED lighting penetration rate rose to 42.5%.

Global LED lighting industry demand continues to weaken

According to the statistics of China LED Lighting Industry Market Prospect and Investment Strategic Planning Analysis Report released by Prospective Industry Research Institute, under the implementation of global energy conservation and environmental protection concepts and the support of national industry policies, the global LED lighting market has remained generally in recent years. More than 10% of the growth rate, as of 2017, the global LED lighting industry scale of 55.1 billion US dollars, an increase of 16.5%. However, compared with the previous years, the growth rate slowed down, mainly due to the decline in the terminal price of LED lighting products and the decline in the market demand for replacement.

In 2018, the growth momentum of the global LED lighting market was weak and the industry scale reached 62.9 billion US dollars. From the perspective of regional economic performance, in addition to the strong economic recovery in the United States, affected by exchange rates and uncertainties, many emerging economies are facing negative pressures from recession, including India, Turkey, Argentina and other regions, showing market crisis. As a result, the growth performance of the domestic market has been weakened. Under the ambiguity of the overall economy, the lighting market, which is a demand for people's livelihood, has also shown a phenomenon of terminal pulling goods.

The development trend of each region is different, and a three-pronged industrial structure has been formed.

Judging from the development of various regions in the world, the global LED lighting market has formed a three-pronged industrial structure dominated by the United States, Asia and Europe, and has taken the lead in Japan, the United States and Germany, followed by Taiwan, South Korea and China. Since then, China, Malaysia and other countries and regions have actively followed up the echelon distribution.

Among them, the European LED lighting market continued to grow in size, reaching $14.53 billion in 2018, a year-on-year growth rate of 8.7% and a penetration rate of over 50%. Among them, the growth kinetic energy of spotlights, filament lamps and decorative lamps used for commercial lighting is most remarkable.

US lighting manufacturers have bright revenue performance, and the main revenue comes from the US market. Under the influence of the tariffs imposed by the Sino-US trade war and the increase in the price of raw materials, the cost is expected to be passed on to consumers.

Southeast Asia is gradually developing into a highly dynamic LED lighting market. Thanks to the rapid growth of the local economy, large investment in infrastructure and large population, there is a great demand for lighting. The penetration rate of LED lighting in the Middle East and Africa market is rapidly increasing, and the market potential in the future is still expected.

Future development trend of global LED lighting industry

In 2018, the global economy was in turmoil, the multi-country economy was declining, market demand was weak, and the growth momentum of the LED lighting market was weak. However, in the context of continued positive energy conservation and emission reduction policies, the global LED lighting industry penetration rate is still further enhanced.

In the future, with the continuous development of lighting energy-saving technology, the protagonist of the traditional lighting market is being converted from incandescent lamps to LEDs, and the widespread application of next-generation information technologies such as the Internet of Things, next-generation Internet, and cloud computing. 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 predictions, the global LED lighting market will present three major development trends in the future: smart lighting, niche lighting, and emerging national lighting.

Smart lighting

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

Niche lighting

The four niche lighting markets include plant lighting, medical lighting, fishery lighting and marine port lighting. Among them, the US and Chinese markets have rapidly increased the demand for plant lighting, and plant plant construction and greenhouse lighting demand are the main kinetic energy.

Emerging national lighting

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