LED lighting market has entered a mature stage

Now that the LED lighting market has entered a relatively stable and mature stage, new things and new technologies are still emerging, which promotes the continuous development of the LED industry. In recent years, in order to meet people's higher lighting demand for LED lighting products, the protagonist of the traditional lighting market is changing from incandescent lamps to LED lighting fixtures. Currently, the domestic LED lighting market has applications in landscape lighting, automotive lighting, plant lighting, and general lighting.

The global LED lighting output value has been showing an upward trend. In 2018, the global LED lighting output value reached 601 billion yuan; the global LED lighting output value reached 662 billion yuan in 2019; it is expected that the global LED lighting industry output value is expected to exceed 798 billion yuan by 2021 .

Our country occupies a "big brother" position in the production of LED lighting products. Now LED lighting products have become a necessity for lighting applications. According to statistics, my country's LED lighting market penetration rate has achieved rapid growth, even faster than the global average. According to the above picture, the scale of domestic LED lighting output value has continued to grow from 2018 to 2021, but the growth rate is not fast. In 2018, the domestic LED lighting market output value reached 415.5 billion yuan; the domestic LED lighting market output value reached 470 billion yuan in 2019, and it is estimated that the domestic LED lighting market output value may reach 590 billion yuan in 2021.