LED lighting products are realizing the replacement of traditional lighting products

As LED lighting technology continues to mature, LED lighting products are realizing the replacement of traditional lighting products. According to the data of the LED Research Institute of Advanced Industry Research (GGII), the global LED lighting market output value is about 600 billion yuan in 2020. At this stage, global LED lighting manufacturers are mainly concentrated in the four major regions of Europe, America, Japan, South Korea and China. Among them, mainland China is already the world's largest LED lighting producer. According to GGII, the output value of China's LED lighting market in 2020 has reached 321.4 billion yuan. Looking back on the years of transition to LEDs, the lighting industry has experienced extremely fierce price competition, and many companies and even listed companies have poor performance. Where is the future of an industry that is saturated and has many people fighting? Lin Liangqi, CEO of NVC Lighting, believes that the lighting industry is undergoing constant changes. The traditional lighting industry in the past was dominated by several large multinational companies. Now it is becoming fragmented and will be reintegrated in the future.

LED lighting products are realizing the replacement of traditional lighting products

Shuai Cheng, deputy general manager of Sanxiong Aurora also said, “With the upgrading of competition in the lighting industry, small brands and miscellaneous companies will have less living space, and the degree of brand concentration will become higher and higher.” The 2020 High-tech LED Golden Globe Awards will be selected. Set up the "2020 LED Industry Chain TOP50" award, which is the top 50 industry brand enterprises of the year selected by the LED Research Institute of the Advanced Industry Research Institute according to the market scale and brand reputation. Companies that have won the "Top 50 LED Industry Chain in 2020" awards cover the upper, middle and lower reaches of the industry chain including chips, packaging, lighting, display screens, drive control and power supplies, and equipment.

Among them, 10 lighting companies have successfully made the list, including 10 companies such as Op Lighting, Sunlight Lighting, Debang Lighting, Foshan Lighting, NVC Lighting, Sanxiong Aurora, Ocean King, Signify, Osram, and Rieter. In 2020, under the influence of the epidemic situation and the slowdown in market demand, OP Lighting will adhere to strong alliances and coordinated development with leading brands in various industries in terms of brand building. It will join hands with Haier Zhijia, Shimao Group, Huawei and other companies to develop Innovate cooperation models through multiple channels to consolidate brand awareness.

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