LED lighting market global penetration rate reached 36.7%
LED lighting products are lighting fixtures that use light-emitting diodes as a light source. They are highly efficient, energy-saving, environmentally-friendly, and easy-to-maintain. They are an effective way to save energy and reduce emissions. Under the background of global energy shortage, LED lighting will gradually become the mainstream product in the field of lighting, leading the revolution in lighting history following incandescent and fluorescent lamps.
In recent years, the rapid growth of the global LED market has gradually replaced incandescent lamps, fluorescent lamps and other lighting sources, and the penetration rate has continued to rise rapidly. According to the “LED Lighting Industry Market Preview and Investment Strategic Planning Analysis Report” published by the Industry Research Institute of Qianwang, the data show that In 2017, the global LED penetration rate reached 36.7%, an increase of 5.40% from 2016.
Global LED lighting penetration
With the rapid development of LED lighting technology, LED lighting products, such as stability, service life, intelligence, display, light efficiency, and other performance indicators have gradually remained stable, reaching the status of customer acceptance, product market applications continue to increase. The forward-looking database shows that the global LED lighting market reached US$34.6 billion in 2016, a year-on-year increase of 15.8%.
Global LED lighting market size (in millions of US dollars)
With the introduction of incandescent lamp roadmaps abroad, China has gradually accelerated the pace of eliminating inefficient lighting products. In October 2011, the National Development and Reform Commission formally issued the "China's Roadmap for Phase-out of Incandescent Lamps" and set a transition period from October 1, 2011 to September 30, 2012. By 2016, it will completely ban all kinds of wattage. Incandescent market sales.
In 2016, the State Council issued the “Thirteenth Five-Year Plan for National Strategic Emerging Industries Development” to explicitly put forward the “development of key technologies in the fields of smart sensors, power electronics, printed electronics, semiconductor lighting, inertial navigation, and industrialization”.
The domestic LED lighting application output value increased rapidly in 2014-2016, and the domestic market penetration rate of LED lighting products (the domestic sales of LED lighting products/the total domestic sales of lighting products) reached 42%, up 10% from 2015. The substitution effect of LED on the traditional lighting market has greatly stimulated the demand for the semiconductor lighting market. The domestic semiconductor lighting industry is expected to usher in key development opportunities. By 2020, China's LED lighting market is expected to exceed 461.4 billion yuan.