2020 China LED lighting drive power supply industry market status

Driven by the rapid growth of the LED lighting application market, the domestic market demand for LED drive power is also increasing. According to the statistics of GGII, China's LED drive power output value increased from 17.2 billion RMB in 2015 to 28 billion RMB in 2018. The year-on-year growth rates in 2017 and 2018 reached 23.74% and 14.3%, respectively.

2020 China LED lighting drive power supply industry market status

With the continuous and rapid development of the LED lighting market, the domestic LED drive power market has a broad space for growth. The GGII LED Industry Research Institute (GGII) predicts that by 2021, the market demand for LED drive power in China is expected to reach 38.4 billion RMB.

As a global LED lighting product production base, China is also a gathering place for the global LED drive power industry. According to the statistics of GGII, the output value of China's LED drive power supply was 17.2 billion RMB in 2015, accounting for 59.7% of the global LED drive power supply output value of 28.8 billion RMB; the scale of China's LED drive power output value in 2018 was 28 billion RMB, accounting for 69.5% of the global LED drive power output value of 40.3 billion RMB. During 2015-2018, China's LED drive power output value increased by nearly 9.8 percentage points in the global market.

As the global LED lighting manufacturing industry continues to shift to China, the proportion of China's LED driver power supply output value in the world is expected to further increase, which will further increase the market demand for the domestic LED driver power supply manufacturing industry.

In terms of market penetration, the market penetration rate of outdoor and industrial LED lighting applications that are mainly matched by medium and high-power LED drive power is still relatively low. In the future, with the increasing market penetration of outdoor and industrial LED lighting applications and the continuous expansion of new application areas, the potential market demand for medium and high-power LED drive power supplies will grow relatively fast.

In terms of market competition, because medium and high-power LED drive power supplies are mainly used in outdoor and industrial LED lighting fields, the products have constant voltage and constant current technology, high reliability and safety, and response to harsh application environments. The requirements are higher, its technical barriers and industry are relatively higher, and its market concentration and industry profit margins are relatively higher.

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