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2021 China LED Lighting Market Analysis Report

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автор : Shenzhen Crown Lighting
Время обновления : 2020-06-19 15:00:00
2021 China LED Lighting Market Analysis Report

The development of LED lighting has become the mainstream lighting products in the market, and its technology and market have been quite mature. From the perspective of the overall market size, the growth rate tends to be stableL From the perspective of penetration rate, the penetration rate of the LED lighting market has exceeded 50%. From the perspective of industry concentration, the industry's top ten market share is gradually increasing. The high gross profit in the early development of the LED lights market has disappeared, especially in the field of LED general lighting. Instead, there are serious product homogeneity, low-price competition, and sharply reduced profits. Large companies are looking for a balance between brand and price. Small businesses are breaking the price battle.

The LED light market has entered a period of stable development, and the future growth rate will remain about 10%

The scale of China’s LED lighting market increased from 205 billion yuan to 410 billion yuan from 2014 to 2018, with an average annual compound growth rate of 18.9%. The main driving factors are: LED technology advancement and improvement of luminous efficiency; comprehensive product cost reduction; government policies continue Support and vigorous promotion of enterprises. It is estimated that the scale of China's LED lighting market will increase by about 10% in the next three years, mainly due to the shrinking market replacement space, the downward pressure of China's economy, and the continued impact of the trade war.




The penetration rate of the LED lighting market has exceeded half, and the replacement market space is getting smaller

LED lighting products has unique advantages such as high efficiency, energy saving, environmental protection, and long life. With the continuous improvement of LED lighting technology and the reduction of costs, the penetration rate of China's LED lighting market continues to increase. In 2010, the market penetration rate of China's LED light products was only 1%. After nearly a decade of development, the market penetration rate has reached 56% in 2018.




Regional characteristics are obvious, and industry concentration is gradually increasing

Driven by the "National Semiconductor Lighting Project", our country has formed a number of national semiconductor lighting project industrialization bases, and the Yangtze River Delta, Pearl River Delta, Fujian Delta, and northern regions have become gathering places for the development of China's LED industry. However, from the perspective of participating led light manufacturers, the overall market concentration of China's LED lighting industry is relatively low and market competition is fierce. There are few large domestic companies with brand, channel, technology, and quality advantages. Most small and medium-sized enterprises are still engaged in fierce price competition.

In 2017, the "Thirteenth Five-Year Development Plan for Semiconductor Lighting Industry" issued by the National Development and Reform Commission stated that "By 2020, the industry concentration will gradually increase, and more than one LED lighting company with sales exceeding 10 billion yuan will be formed, and 1 to 2 will be cultivated. There are more than 10 well-known international brands and about 10 domestic well-known brands; the top ten share of the LED lighting industry concentration will reach 15%." With the implementation of national policies, the concentration of the LED lighting industry will further increase. The increase in industry concentration is also a process of survival of the fittest, which will prompt the industry to enter a more standardized and reasonable period of benign development.

The slowdown of domestic macroeconomic growth has become a trend. The overall LED lighting market growth tends to be stable, industry competition is intensified, price wars are fierce, and it is also a fact that most domestic lighting companies increase revenue without increasing profits. Then, under this situation, our country’s LED light companies, Where should we go in the future?


Opportunities to subdivide application areas

The price competition of LED general lighting market is fierce, but there is still room for high gross profit in certain segments. Therefore, certain segments with higher added value and gross profit have become better choices for powerful companies in the industry, such as solar LED street light fixtures, LED Plant lighting, solar floodlights, LED fishery lighting, LED stage lights, LED medical lighting, LED automotive lighting, LED filament lamps, LED explosion-proof lamps, intelligent lighting and other subdivisions.

Opportunities in the foreign lighting market

Although China's LED lighting market has a relatively high penetration rate, the global LED lighting market penetration rate is about 40%, and there is still a large replacement space in the market. Especially the economic development of emerging markets and the increase in urbanization rate will stimulate the demand for LED lighting, such as Thailand , Vietnam, India, etc. Some domestic enterprises have already started their internationalization route.
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Светодиодные прожекторы серии ARF, внесены в список UL/cUL/DLC 5.1/TUV, 50–500 Вт, гарантия 5–10 лет, 100–480 В переменного тока, 140–160 лм/Вт
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