China's LED lighting market will maintain a 15% increase in the next few years

Through the rapid development of nearly ten years, LED lighting products are gradually replacing traditional lighting products and become the main force of home, commercial, industrial and outdoor lighting. Due to the rapid improvement of the cost performance of LED lighting products, the penetration rate of LED lighting products is also increasing year by year. . Through the rapid development of nearly ten years, LED lighting products are gradually replacing traditional lighting products and become the main force of home, commercial, industrial and outdoor lighting. Due to the rapid improvement of the cost performance of LED lighting products, the penetration rate of LED lighting products is also increasing year by year. . In 2017, the global LED lighting penetration rate reached about 40%, and LED lighting technology has matured. Compared with developed countries, China's LED lighting companies have cost advantages. Compared with other developing countries, China's LED industry chain is fully equipped, so China has become the global LED lighting production base. According to the data of the High-tech Research Institute LED Research Institute (GGII), in 2017, the global LED lighting market output value reached 536 billion yuan, of which, the output value of LED lighting in mainland China was 296.9 billion yuan, an increase of nearly 21% year-on-year, and the global proportion reached 55.40. %, of which LED lighting exports exceeded US$20 billion, up 37% year-on-year. Considering that global LED lighting penetration still doubles space, GGII expects that China's LED lighting market is expected to remain at around 15% in the next few years. Market growth, China's LED lighting market will reach 461.4 billion yuan in 2020.

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