To improve energy efficiency, protect the environment, and cope with global climate change, as the most advanced new high-efficiency energy-saving lighting products, LED lighting products are the key promotion products of energy-saving lighting in the world.
Previously, market penetration has been at a relatively low level due to the higher price of LED lighting products compared to traditional lighting products.
With the increasing attention of countries around the world in energy conservation and emission reduction, the improvement of LED lighting technology and the decline in prices, and the favorable policies of countries that have banned the sale of incandescent lamps and promoted LED lighting products, the penetration rate of LED lighting products has been continuously improved.
The global LED lighting penetration rate reached 36.7%, up 5.4% from 2016. By 2018, the global LED lighting penetration rate rose to 42.5%.
Judging from the development of various regions in the world, the global LED lighting market has formed a three-pronged industrial structure dominated by the United States, Asia, and Europe, and has taken the lead in Japan, the United States, and Germany, followed by Taiwan, South Korea, and China. Since then, China, Malaysia, and other countries and regions have actively followed up the echelon distribution.
Among them, the European LED lighting market continued to grow in size, reaching $14.53 billion in 2018, a year-on-year growth rate of 8.7% and a penetration rate of over 50%. Among them, the growth kinetic energy of spotlights, filament lamps and decorative lamps used for commercial lighting are most remarkable.
US lighting manufacturers have bright revenue performance, and the main revenue comes from the US market. Under the influence of the tariffs imposed by the Sino-US trade war and the increase in the price of raw materials, the cost is expected to be passed on to consumers.
Southeast Asia is gradually developing into a highly dynamic LED lighting market.
Thanks to the rapid growth of the local economy, a large investment in infrastructure and a large population, there is a great demand for lighting. The penetration rate of LED lighting in the Middle East and Africa market is rapidly increasing, and the market potential in the future is still expected.
In the future, with the continuous development of lighting energy-saving technology, the protagonist of the traditional lighting market is being converted from incandescent lamps to LEDs, and the widespread application of next-generation information technologies such as the Internet of Things, next-generation Internet, and cloud computing. Smart cities have become an inevitable trend.
In addition, from the perspective of market demand, emerging countries in Southeast Asia and the Middle East have strong demand. In the future, the global LED lighting market will present three major development trends: smart lighting, niche lighting, and emerging national lighting.
Smart lighting
With the maturity of technology, products, and related concepts, it is estimated that global smart lighting will reach 13.4 billion US dollars in 2020. Industrial and commercial are the largest application areas for smart lighting. Because of the digital characteristics, smart lighting will bring more new business models and value growth points to these two fields.
Niche lighting
The four niche lighting markets include plant lighting, medical lighting, fishery lighting, and marine port lighting. Among them, the US and Chinese markets have rapidly increased the demand for plant lighting, and plant construction and greenhouse lighting demand are the main kinetic energy.
Emerging national lighting
The economic development of emerging countries has driven infrastructure and urbanization rates, and the construction of large-scale commercial facilities and infrastructure and industrial zones has stimulated demand for LED lighting.
In addition, national and local governments' energy conservation and emission reduction policies such as energy subsidies, tax incentives, etc., large-scale project such as street lighting, residential and commercial district renovation, and the improvement of lighting product standard certification are promoting LED lighting promotion.
Among them, the Vietnam market and the Indian market in Southeast Asia are the fastest growing.
The application of automotive LED lighting is gradually increasing.
With the development of LED technology and people's demand for automotive performance, LED lighting technology has been applied to automotive interior lighting and gradually applied to external lighting.
LED lighting technology has been widely used in automotive lighting fixtures due to its energy-saving and environmental protection, long service life, small size, and outstanding safety. At the same time, it has driven the development of the LED lighting industry.
Automotive lighting is a key factor in the safe driving of cars.
With the rapid development of the automotive industry and the maturity of LED lighting technology, LED lighting technology has been applied to automotive interior lighting and has gradually applied to automotive exterior lighting such as automotive headlights, turn signals and taillights.
The development of LED lighting in the interior of the car has been very mature; in the exterior of the car, LED lights have developed into various types of lighting including headlights, fog lights, tail lights, brake lights, turn signals, daytime running lights.
Compared with traditional lighting fixtures, LED lights have been used as headlights by many medium and high-end cars because of their small size and easy to change. They have enriched the appearance design of modern cars and improved the recognition of automobile brands.
In the near future, with the continuous improvement of LED technology and the gradual maturity of the automotive lighting market, the development prospects of LED lighting technology in the field of automotive lighting will be better and better.
The LED lighting is the mainstream of the future, both in automotive applications and in other fields, with considerable prospects.
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