LED LIGHTING BLOG
Home / Resources / Post
LED Industry Insights - Spring 2013
China is the undisputed global leader in LED production with over 4000 companies operating across the entire production chain. Here are some insights about the current state of the industry and where future opportunities in the LED market may be.
Below is a summary of state of the Chinese LED industry and future market predictions based on the Guangdong LED Lighting Market Analysis Report (Feb 2013).
In the past ten years, as a response to China's rapid economic growth and accompanied construction boom across the country, large-scale skyscraper and megaplex projects have contributed to the significant demand for exterior LED lighting. During the 2010-2015 period, this lighting type is expected to maintain a CAGR of approximately 55% and has become the largest LED lighting application.
Based on the "China Long-term Scientific and Technological Development Plan", LED lights and other semiconductor lighting products are explicitly included in the "areas of focus and priority." Many cities have already incorporated plans to install millions of LED lights across public areas during the next three years. The continued push for LED lighting in the public sector will continue to propel growth in streetlight for several years to come.
Retail encompasses a wide range of applications such as clothing, cosmetics, food, jewelry, with each application requiring unique lighting characteristics in order to improve the products' appearance. Continued technological and expertise development in niche applications will fuel growth in this sector. Take a look at Beijing Yuji's high CRI LED products, for example.
Because LED prices are still relatively high and the industry has only recently begun to enforce stricter quality restrictions, penetration in this market segment remains low. As these quality and price issues become resolved, however, significant opportunities in residential retrofit applications can be realized.
If you're a visual person...
These two charts show significant domination of the LED market by the streetlighting and outdoor illumination segments.These two sectors will continue to grow and maintain their dominance. All numbers are actual until 2013 and predicted values thereafter.
All sectors will maintain strong growth in years to come. Particularly noteworthy are the residential, retail and outdoor applications, each forecast to have greater than 50% CAGR over the next 3 years.
Because we are a manufacturer not only of LED lights but also LED phosphors and packages, we have strong partnerships both domestically and internationally. Our international business department is able to work with partners to provide you and your business products with both guaranteed quality and low prices. Contact us today to discuss your LED lighting needs!Author: Alex
comments powered by Disqus
See all posts