Statistics show that with the implementation of global energy conservation and environmental protection concepts and the support of industry policies in various countries, the global LED lighting market has maintained an overall growth rate of more than 10% in recent years. According to forward-looking calculations, the output value of the global LED lighting industry in 2020 will exceed US$450 billion, and the reason for the decline is due to the impact of the COVID-19 in 2020.
After experiencing the severe damage to the LED lighting industry by the global epidemic in 2020, as the epidemic is gradually brought under control, commercial, outdoor, and engineering lighting has rapidly recovered. At the same time, according to TrendForce analysis, 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 smart dimming control.
From the perspective of demand distribution in the global LED lighting industry, home lighting accounts for more than 20% and is the most widely used. Followed by industrial and outdoor lighting, both are around 18%.
According to the latest data from LEDinside, in 2020, China would still be the largest LED lighting market in the world, and Europe is tied with China, followed by North America. China, Europe, and North America account for more than 60% of the global LED lighting market, with a high regional concentration.
In view of the current development status of global LED lighting, the global LED lighting industry will generally pick up, 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 world’s largest market share in a short period of time.
Post time: Dec-24-2021