Market conditions improve, LED market grows 4% this year

Research TrendForce recently announced this year's global LED lighting market report. Last year, the market slowed down and the market size decreased by 5% to 61.4 billion US dollars. Looking forward to this year, as the energy-saving demand in Europe and the United States enters the peak period of replacement, and China's demand picks up, the market size will continue to grow. It rose 4 percent to $63.8 billion.

TrendForce pointed out that Europe, the United States and Japan continue to promote energy-saving projects, LED will enter the peak of replacement, consumers' demand for high-quality lighting and smart lighting will enter a stage of rapid development, and the Chinese market is fully unblocked, which is expected to drive the recovery of LED demand this year .

With the recovery of the LED market, Taiwanese manufacturers are expected to get rid of the haze of last year this year. Everlight (2393-TW) is also optimistic. It is estimated that the revenue in the first quarter will continue to be weak, but it is expected to gradually recover from the second quarter. This year's revenue is expected to be flat or slightly higher than this year.

TrendForce said that in the first half of the year, lighting products are still in the stage of rapid destocking, and some demand will continue to be affected by high inflation, which will relatively offset part of the demand growth. Last year, the global smart lighting market was worth US$6.9 billion, an annual increase of 12.9%. Looking forward to this year, smart home lighting is expected to rebound as consumer demand improves.

In terms of horticultural lighting, TrendForce said that last year, the market size decreased by 20% to US$1.3 billion. This year, driven by localized production demand and global cannabis policies, the market size will reach US$1.44 billion, an annual increase of 7.1%. It is optimistic about 2027 The annual market size will reach 2.44 billion US dollars, with a compound annual growth rate of 11.5%.