According to the latest research report of Renub Research, “the market scale, market share and market share of China’s LED lighting market are based on the applications (industrial, outdoor, residential and commercial), companies (MLS Co., Philips Lighting, OSRAM, Cree Inc., Foshan Electrical Lighting) Provides a detailed and comprehensive view of the LED lighting market in China. The 38-page report with 38 pages of data and tables examines China’s LED lighting market from four perspectives (industrial, outdoor, residential, commercial)
It is estimated that by the end of 2024, China’s LED lighting market is expected to ship 24 billion US dollars. Year-on-Year Growth China’s lighting industry has been growing, and China has become a world leader in lighting compared with the past two decades. The growth of China’s LED industry is due to the increasing demand of consumers for energy-saving lighting systems, the falling prices of LED and the high penetration rate of LED as the light source of ordinary lighting market are expected to promote the growth of this market. China’s lighting market is undergoing a shift from traditional lighting to LED technology.
LED development
In 2000 developed the “light-emitting diode.” LED is an electronic device that emits light when current is passed through. Compared with traditional lighting technology such as incandescent lamp or compact fluorescent lamp, its main characteristic lies in improving the durability and energy-saving. The LED consumes an average of 85% less power than a bulb, offering longer life, longer life, and longer life of up to 20 years. The energy-saving features of LEDs enable them to produce brighter light than other types of light bulbs while using less energy. They are environmentally friendly; they do not contain any toxic substances or gases, such as mercury-containing halogen bulbs. LED market covers a wide range of applications, providing store, residential, office, hotel, industrial, outdoor and architectural solutions for lighting.
Chinese government actively supports LED lighting
In order to promote highly efficient LED lighting products, the National Development and Reform Commission and the Ministry of Finance of China (MOF) cooperate to pay close attention to the interim measures of financial subsidies management. Like financial subsidies to promote LED lighting action. In the current situation, the response of local governments is faster than that of the central government in implementing LED subsidies. Guangdong Province, China is the largest LED industry scale, the amount of subsidies are relatively high. As of 2013, Guangdong, Foshan, Dongyuan, Zhongshan and other cities have launched a number of subsidy programs to promote LED lighting products. In the meantime, all the electricity costs saved by LED are used to subsidize Zhongshan’s construction projects.
LEDs meet the demand of most government-imposed energy-saving light sources. In recent years, the issue of environmental protection and energy conservation has become increasingly serious due to climate change. Regulation is becoming more stringent around the world and the government encourages the entire building infrastructure to encourage environmentally-friendly initiatives.
Like traditional financing (lending and leasing), new lighting can be financed through government and municipal projects (public-private partnerships, private-sector financing initiatives) and carbon finance under the CDM. At the same time, with the acceleration of urbanization in China, the potential demand for urban public lighting projects is huge.
Since October 2012, China has banned all incandescent bulbs from importing and selling over 100 watts. On October 1, 2016, the ban gradually expanded to over 15 watts. In addition, China also plans to gradually introduce energy-saving lamps with LED.
China LED lighting market, the highest market share of commercial segments
In China, the commercial area of the LED lighting market occupies market share compared to other LED areas (residential LED, industrial LED and outdoor LED). And with the implementation of LED lighting standards, China will further LED lighting into high-quality LED products