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Analysis of Global LED Lighting Industry in 2018: Three Trends in Future Market

2019-09-05

Policy continues to be good, product penetration continues to increase

In order to improve energy efficiency, protect the environment and cope with global climate change, as the most advantageous new 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 is higher than that of traditional lighting products, its market penetration has been at a low level.

With more and more attention paid to energy saving and emission reduction, the improvement of LED lighting technology and the decrease of its price, as well as the favorable policy of banning incandescent lamps and promoting LED lighting products, the penetration rate of LED lighting products has been continuously increasing. In 2017, the penetration rate of global LED lighting reached 36.7%, up 5.4% from 2016 to 201. Global LED lighting penetration increased to 42.5% in 8 years.

Global demand for LED lighting industry continues to be weak

According to the statistical data of "China LED Lighting Industry Market Foresight and Investment Strategic Planning Analysis Report" issued by Prospective Industry Research Institute, the global LED lighting market has maintained a growth rate of more than 10% in recent years, with the implementation of the global energy-saving and environmental protection concept and the support of national industry policies, up to 2017, the global LED lighting market has maintained a growth rate of more than 10%. The industrial scale of Ming Dynasty was 55.1 billion US dollars, up 16.5% year on year. However, compared with previous years, the growth rate has slowed down, mainly due to the decline in terminal prices of LED lighting products and the decline in the market demand for replacement stock.

Entering 2018, the growth momentum of the global LED lighting market is weak, and the industry scale has reached 62.9 billion US dollars. From the regional economic performance, in addition to the strong recovery of the U.S. economy, influenced by exchange rate and uncertainty factors, many emerging economies are facing negative pressure of recession, including India, Turkey, Argentina and other regions are showing market shocks crisis, thus weakening the growth performance of the domestic market, in the overall economy. Under the uncertain economic situation, the lighting market as the people's livelihood demand also presents the phenomenon of weak terminal pick-up.

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

From the perspective of global regional development, the global LED lighting market has formed a three-legged industrial structure dominated by the United States, Asia and Europe, with Japan, the United States and Germany as the leading industries, followed by Taiwan, South Korea and other countries and regions in mainland China, Malaysia and other countries and regions. Distribution.

Among them, the European LED lighting market continues to grow, reaching $14.53 billion in 2018, with an annual growth rate of 8.7% and a penetration rate of more than 50%. Among them, spotlights, filament lamps and decorative lamps for commercial lighting have the most significant growth momentum.

U.S. lighting manufacturers all have bright revenue performance, and the main revenue comes from the U.S. market. Costs are expected to be passed on to consumers as a result of increased 

tariffs and 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 economic growth, large investment in infrastructure and large population, so there is a great demand for lighting. The penetration rate of LED lighting in Middle East and Africa market is rising rapidly, and the future market potential is still promising.

Analysis of the Development Trend of Global LED Lighting Industry in the Future

In 2018, the global economy is turbulent, the multinational economy is declining, the market demand is weak, and the growth momentum of the LED lighting market is weak. However, under the background of the sustained good energy saving and emission reduction policies in various countries, the penetration rate of the global LED lighting industry is further improving.

In the future, with the continuous development of lighting energy-saving technology, the main role of traditional lighting market is changing from incandescent lamp to LED, and the wide application of new generation information technology, such as Internet of Things, Next Generation Internet, cloud computing, etc., smart city has become an inevitable trend. In addition, in terms of market demand, emerging countries in Southeast Asia and the Middle East have strong demand power. Looking ahead, the global LED lighting market will present three major trends in the future: intelligent lighting, niche lighting and lighting in emerging countries.

1.       Intelligent Lighting

With the maturity of technology and products and the popularization of related concepts, it is estimated that the global smart lighting will reach 13.4 billion US dollars by 2020. Industry and commerce are the biggest application fields of intelligent lighting, because digital characteristics, intelligent lighting will bring more new business models and value growth points in these two areas.

2.       Niche lighting

Four niche lighting markets include plant lighting, medical lighting, fishery lighting and marine port lighting. Among them, the demand for plant lighting in the United States and China market is rapidly rising, and the demand for plant factory construction and greenhouse lighting is the main motive energy.

3.       Lighting in Emerging Countries

Infrastructure and urbanization are boosted by the economic development of emerging countries. Large-scale commercial facilities and infrastructure and industrial zones stimulate the demand for LED lighting. In addition, the energy-saving and emission reduction policies of national and local governments, such as energy subsidies, tax incentives, large-scale tender projects such as street lamp replacement, residential and business district renovation, and the improvement of lighting product standard certification are all promoting the promotion of LED lighting. Among them, Vietnam market and India market in Southeast Asia grew fastest.


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