Statistics show that with the implementation of the global concept of energy saving and environmental protection and the support of national industry policies, the global LED lighting market has maintained a growth rate of more than 10% in recent years. In 2020, the output value of the global LED lighting industry will exceed 450 billion US dollars. The reason for the decline is the impact of the global new crown epidemic in 2020.
After experiencing the severe damage to the LED lighting industry caused by the global epidemic in 2020, as the epidemic is gradually brought under control, commercial, outdoor, and engineering lighting will recover rapidly, and the penetration rate of LED lighting will increase. In addition, the LED lighting industry also presents the characteristics of rising prices of LED lighting products and the development of digital intelligent dimming control.
The most widely used home lighting
Judging from the demand distribution of the global LED lighting industry, household lighting accounts for more than 20%, and is the most widely used. Followed by industrial and outdoor lighting, both at around 18%.
China is still the world's largest LED lighting market
According to the latest data from LEDinside, in 2020, China will still be the largest LED lighting market in the world, tied with China by Europe, followed by North America. The combined proportion of China, Europe, and North America exceeds 60% of the global LED lighting market, and the regional concentration is relatively high.
Development Trend of Global LED Lighting Industry
Combined with the status quo of global LED lighting development, the global LED lighting industry will rebound and the penetration rate will increase. From the perspective of market segments, the expanded application of outdoor and commercial lighting is a new growth point in the LED lighting market; from the perspective of regional distribution, Europe and the Asia-Pacific region will still occupy the largest market share in the world in a short period of time.
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Post time: Mar-15-2023