2016 global LED lighting market increased to 30.5 billion dollars
It is reported that, LED lighting market is expected to grow from $ 25.7 billion in 2015 increased to $ 30.5 billion in 2016, LED lighting penetration rate in 2015 from 31 per cent to 36 per cent in 2016.
Industry sources said the price slump severely affect profits replacement LED bulbs and tubes products. Thus, companies began to turn their attention to lighting professional lighting market, and hopes to increase government spending, especially spending on new public projects to create new opportunities. Commercial and industrial lighting and architectural lighting and other fields with tremendous growth potential.
Lighting companies focus on providing professional lighting solutions for developed markets in the US, Europe and Japan. They tried to capture market opportunities through product diversification and differentiation. In emerging markets, rapid economic growth, favorable government policies and large-scale urban projects are constantly generating new opportunities. The main growth is expected next year the global lighting market is the United States and India.
This year the US lighting market strong demand, commercial and industrial lighting, garden lighting and marine lighting applications demand. America's major lighting companies are actively developing various LED lighting business, LED lighting products and a greater share of the investment. LED lighting products demand in the industrial and commercial field, troffers, panel lights, tunnel lights, and high / low bay lights grow fastest. In addition, new applications of smart lighting and optical communications are endless.
Development in India, Africa and Southeast Asia and other emerging markets will be severely affected government policy and market tenders capacity. For example, the Indian government plans to buy 200 million LED light bulbs at the end of 2016, and published on LED street reconstruction project tender. To meet the production capacity and manufacturing capabilities tender conditions, international bidders are encouraged with local lighting companies to establish joint ventures. Therefore, the expected 2016 Indian LED lighting market will remain hot.