According to the latest research report of jibang LED research center (LEDinside) "2019 lighting level packaging and LED lighting market outlook", the scale of LED lighting market will gradually increase from 2018 to 2023. The market size of LED lighting is expected to reach 56.6 billion usd in 2023, and it is estimated that the CAGR will be 9% in 2018-2023.
LED lighting trends vary globally, with markets in Europe, southeast Asia and India performing well
The scale of LED lighting market in Europe continues to grow, reaching usd 8.292 billion in 2018, with a year-on-year growth rate of 9.5% and a penetration rate of over 50%.Among them, the growth momentum of spotlights, filament lamps and decorative lights for commercial lighting is the most significant.
The 1H18 lighting manufacturers in the United States all had strong revenue performance, mainly from the United States market.Affected by the trade war between China and the United States to impose tariffs and raw material prices, costs are expected to be passed on to consumers.
The high unit price of products in the Japanese market, as well as the recovery of the Japanese economy, will help the Japanese market to maintain a good growth due to the impact of the 2020 Tokyo Olympic Games.
Southeast Asia is gradually developing into a very dynamic LED lighting market. Thanks to the rapid economic growth, large infrastructure investment and large population, there is a great demand for lighting.LED lighting penetration in the Middle East and Africa is rapidly increasing, and the future market potential is still to be expected.
Looking ahead to the trend of 2019-2020 lighting market, three major opportunities will become the growth drivers of lighting manufacturers' revenue.Secondly, DLC V5.0 will improve the light quality and luminous efficiency, and there will be an opportunity to enhance the requirements of the high-end lighting market again.In addition, the most important thing is that lighting manufacturers expand the combination of different industries to create business opportunities. At present, we can see such markets as architectural smart lighting, human factor lighting, plant lighting, fishery lighting, gymnasium lighting and special lighting.
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