The LED lighting market is growing rapidly with a global penetration rate of 36.7%

LED lighting products make use of light-emitting diode as light source to manufacture lighting appliances, with high efficiency, energy saving, environmental protection, easy maintenance and other significant characteristics, is an effective way to achieve energy conservation and emission reduction. Under the background of global energy shortage, LED lighting will gradually become the mainstream product in the field of lighting, leading another lighting source revolution after incandescent lamp and fluorescent lamp in the history of lighting.

In recent years, the global LED market has been growing rapidly, gradually replacing incandescent lights, fluorescent lights and other lighting sources, and the penetration rate continues to increase rapidly. According to the LED Lighting Industry Market foresight and Investment Strategy Planning Analysis report released by Qianzhan Industry Research Institute, the global LED penetration rate reached 36.7% in 2017.  Compared with 2016, the increase of 5.40%.

Global LED lighting penetration Rate With the rapid development of LED lighting technology, LED lighting products stability, service life, intelligence, finger, light efficiency and other performance indicators gradually maintain stable, to achieve customer acceptance, product market applications continue to improve. According to the forward-looking database, the global LED lighting market reached 34.6 billion US dollars in 2016, with a year-on-year growth of 15.8%.  

With the introduction of the road map of eliminating incandescent lamps in foreign countries, China has gradually accelerated the pace of eliminating inefficient lighting products.  In October 2011, the National Development and Reform Commission (NDRC) officially released the Roadmap for Phasing out Incandescent lamps in China, and set the period from October 1, 2011 to September 30, 2012 as a transitional period. By 2016, all kinds of incandescent lamps with different wattage will be banned on the market.  

In 2016, The State Council issued the 13th Five-Year Plan for the Development of National Strategic Emerging Industries, which clearly proposed to “promote the r&d and industrialization of key technologies in intelligent sensors, power electronics, printed electronics, semiconductor lighting, inertial navigation and other fields”.

From 2014 to 2016, the output value of domestic LED lighting applications grew rapidly, and the penetration rate of domestic LED lighting products (domestic sales volume of LED lighting products/total domestic sales volume of LED lighting products) reached 42%, up 10% compared with 2015.  The substitution effect of LED on traditional lighting market has greatly stimulated the demand of semiconductor lighting market, and the domestic semiconductor lighting industry is expected to welcome a key development opportunity.  By 2020, China’s LED lighting market is expected to exceed 461.4 billion yuan.

Post time: Nov-03-2021