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2021 LED lighting industry development status 1. Global situation
Due to the strong correlation between the lighting industry and the real estate industry, the global LED lighting market has maintained a growth rate of over 10% in recent years thanks to the replacement of real estate inventory in developed countries and the incremental demand driven by urbanization in developing countries. The scale of the global LED lighting market is increasing year by year. In 2020, the output value of the global LED lighting industry reached 738.3 billion yuan, an increase of 11.53% compared with 2019. In the context of continued improvement of LED performance and cost performance, it is expected that the scale of the global LED lighting market will be further improved in the future.
2. China
China is the largest manufacturer of LED lighting products. With the penetration rate of the domestic LED lighting market rising to more than 70%, LED lighting has basically become a rigid demand for lighting applications. The scale of the domestic LED lighting market shows a faster growth momentum than the global average level. The output value of China's LED lighting market increased from 301.7 billion yuan in 2016 to 526.9 billion yuan in 2020, with a compound annual growth rate of 14.95%.
3, LED lighting industry competition |
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