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LED Lighting Market Has Maintained A 15% Increase In The Next Few Years In China

- Feb 06, 2018 -

Through more than ten years of rapid development, LED lighting products are gradually replacing traditional lighting products, and become the main force of home, business, industry and outdoor lighting. Due to the rapid upgrading of LED lighting products cost-effective, the penetration of LED lighting products is also increasing year by year.

In 2017, the global LED lighting penetration was about 40%, and LED lighting technology became mature. Compared with the developed countries, China's LED lighting enterprises have cost advantages. Compared with other developing countries, China's LED industry chain is complete, so China has become the world's LED lighting product production base.

Engineering production and Research Institute of LED (GGII) data show that in 2017, the global LED lighting market value reached 536 billion yuan, of which, Chinese, LED lighting production scale of 296 billion 900 million yuan, an increase of nearly 21%, the proportion reached 55.40%, of which LED lighting exports exceeded $20 billion, an increase of more than 37%, taking into account the global LED lighting penetration is still double space, GGII expects the next few years, the scale of China LED lighting market is expected to remain at about 15% of the market growth in 2020, China LED lighting market will reach 461 billion 400 million yuan.

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