Analysis of the development status of the global LED lighting industry in 2021

Benefiting from the promotion and support of the policies of various countries around the world, the LED market has made considerable progress, and the global LED lighting penetration rate has shown an accelerated growth trend. According to statistics, as of the end of 2018, the global LED lighting penetration rate has reached 45.3%, and the global LED lighting penetration rate is expected to reach 66% in 2021.

While the global LED lighting penetration rate is further increasing, the global LED lighting market is also showing a good momentum of rapid growth. According to statistics, in 2018, the global LED lighting output value reached 601 billion yuan, an increase of 12.1% year-on-year; in 2020, the global LED lighting industry output value reached 738.3 billion yuan, an increase of 7.2% year-on-year. It is estimated that the output value of the global LED lighting industry is expected to reach 808.9 billion yuan in 2021, an increase of 4.1%.

In general, with the continuous update and iteration of LED chip technology and manufacturing processes, the luminous efficiency, technical performance, product quality, and cost-effectiveness of LED lighting products have been greatly improved; coupled with the continuous increase of related enterprises and investments in the industry chain, LED light sources The manufacturing technology of manufacturing and supporting industries has been continuously upgraded, and the cost-effectiveness of large-scale production of terminal products has further improved. At present, LED lighting products have become home lighting, outdoor lighting, industrial lighting, commercial lighting, landscape lighting, backlight display and other application fields The market penetration rate of LED lighting products to replace traditional lighting products continues to increase, and market demand continues to grow.