Marketing News

LED lighting market growth tends to be stable


LED lighting has developed into a mainstream lighting product in the market, and its technology and market are quite mature. From the perspective of the overall market size, the growth rate tends to be stable; from the perspective of penetration rate, the penetration rate of LED lighting market has exceeded 50%; from the perspective of industry concentration, the top ten market share of the industry is gradually increasing. The high gross profit of the LED lighting market has disappeared in the early stage of development. Especially in the field of LED general lighting, it is replaced by serious homogenization of products, low-price competition, and sharply reduced profits. Large enterprises are looking for a balance between brand and price. Small businesses are struggling for the price.

The LED lighting market has entered a stable development period. The future growth rate will remain around 10%.

In 2014-2018, the scale of China's LED lighting market has increased from 205 billion yuan to 410 billion yuan, with an average annual compound growth rate of 18.9%. The main driving factors are: LED technology advancement, luminous efficiency improvement; product comprehensive cost reduction; government policy continues Support and the promotion of enterprises and so on. It is estimated that the scale of China's LED lighting market will increase by about 10% in the next three years. The main reasons are: the market replacement space is getting smaller, the pressure of China's economic downturn, and the continuous impact of trade wars.

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