Research estimates that Q4 LED demand is expected to improve

This year's global LED lighting market report was recently released. In the first half of the year, the global lighting market was affected by inflation and other factors. The demand slowed down. Looking forward to the second half of the year, with the successive introduction of stimulus policies in many countries, the demand in the fourth quarter is expected to improve, but it will be revised down. The annual market size reached US$64.61 billion, an annual increase of 0.5%.

TrendForce said that in the first half of the year, the world was caught in a high inflation and the economic boom slowed down. The conflict between Russia and Ukraine led to high energy costs, a slowdown in the housing market, and the epidemic repeatedly affected the demand for the lighting market. However, the reopening of economies in Europe and the United States, business activities stimulated a rebound in consumption, plus the demand for energy-saving retrofit projects in Europe and Japan compensated for the decline in the commercial lighting market, while the good performance of economic activity in Southeast Asia offset the decline in demand in the Chinese market.

Looking forward to the second half of the year, TrendForce believes that with the stimulus policies of many countries, market demand will improve in the fourth quarter, but it still revised down the global LED lighting market size this year to US$64.61 billion, a slight increase of 0.5% over last year.

TrendForce estimates that the total lighting revenue of the top 30 lighting manufacturers in the world is estimated to grow by an average of 1-3% this year, and the total revenue of the top 10 lighting manufacturers will increase by more than 3%, while the average LED lighting revenue of the top 20 lighting manufacturers growth of 2-5%.

In terms of various types of lighting, TrendForce predicts that in the second half of the year, with the promotion of multi-national policies, the market size of LED street lights will increase by 7% to US$840 million. Influenced by the convergence of growth rate, it is estimated that the market this year will reach 1.79 billion US dollars, an annual increase of 6.6%.

In the long run, TrendForce stated that in the future, the lighting industry will pay more attention to the light quality of products, human-induced health lighting and intelligence. It is estimated that the global LED lighting market will grow to US$78.36 billion in 2026, with a compound growth rate (CAGR) of 3.9% from 2021 to 2026.