China's LED Lighting Industry Is Mixed, but the Overall Trend Is Rising, and the Industry Will Accel

Looking at the global economic situation, it is difficult to see obvious signs of recovery. Global trade growth is slow and the whole is in the stage of structural adjustment. However, as countries around the world pay more and more attention to energy conservation and emission reduction, as a new energy-saving lighting product with great advantages, LED has become a key promotion product of energy-saving lighting all over the world, resulting in the rapid development of the global LED lighting market, In 2018, the global LED output value reached US $62.9 billion.

China's LED lighting industry is growing steadily and is generally on the rise

After more than 40 years of development, China's LED lighting industry has initially formed a relatively complete industrial chain and developed rapidly. Even after experiencing high-level development with a continuous growth rate of more than 30%, it has entered a general slowdown period, and the export growth rate of LED lighting products is still higher than the average export level of various industries in China.

With the divestiture of general lighting business by international giants, the scale of output value in China will continue to increase. The global market share is expected to reach 61% in 2020. According to the data of LED Research Institute of advanced industry and Research (GGII), it is expected that by 2020, the output value of LED lighting in China will reach 445 billion yuan, a year-on-year increase of 14.1%.

With the gradual deepening and penetration of the concepts of environmental protection, energy conservation and green lighting, LED lighting technology with many advantages such as high efficiency and low consumption, safety and reliability, convenient management and long service life has been widely used in all aspects of the lighting industry in recent years. At the same time, the national green lighting project and relevant policies also directly promote the rapid development of LED lighting market.

The market is mixed, and the industry will accelerate the integration in the future

China's LED industry is in the stage of rapid growth, the scale continues to expand, and the number of enterprises continues to increase. However, many enterprises are small and medium-sized enterprises, with weak technical and financial strength and insufficient R & D investment, resulting in serious product homogenization. Enterprises mainly seize the market through price competition, making the development of the industry more chaotic.

"Lighting function" is the basic core essence of lighting products. However, most lighting products in the market are almost the same, with little innovation. In the homogeneous environment of diversified selection of similar products, enterprises are prone to a "hard fight" situation in the face of competition, resulting in vicious competition, which is not conducive to the long-term and healthy development of LED lighting industry.

In addition, the LED lighting industry has gradually appeared the trend of market saturation and reduced demand, resulting in overcapacity. It is undeniable that in the environment of rapid development of led enterprises, the homogenization of products will inevitably lead to the elimination of most enterprises. This phenomenon is not only a great challenge but also a rare opportunity for enterprises.

With the continuous development of the industry, the market share of enterprises with strong technology, great strength and high brand awareness will continue to rise, and small enterprises lacking technical advantages and experience will be gradually eliminated. In addition, the government's guiding function will also be clear. By strengthening the construction of guiding industry standards, we will promote the integration of the industry and the survival of the fittest, and support leading enterprises to become stronger and bigger.

Conclusion: if LED lighting enterprises want to be bigger and stronger, they must understand the mechanism of LED, and launch products suitable for the market through continuous innovation and continuous improvement of product quality and details according to market changes. Only by grasping the essence of lighting, directly hitting the pain points of users and daring to break through and innovate, can we successfully seize the market. It is worth mentioning that intelligent devices based on the continuous evolution of Internet of things technology will promote LED intelligent lighting to a new level. Perhaps in the near future, LED lighting will enter thousands of households.

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