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 2021 LED lighting industry development status

1. Global situation
LED lamps are widely used in industrial lighting, outdoor lighting and other scenes where it is not easy to replace the light source, so LED lamps have gradually become the main force of penetration, occupying a larger market share. Since 2016, the penetration rate of global LED lighting products has increased year by year, and by the end of 2020, the penetration rate of global LED lighting products has increased to 59.0%. 

 

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
The penetration rate of domestic LED lamp has been increasing year by year, which is nearly 60%, 55%; At the same time, LED products occupy up to 78% of the market share; With the policy guidance and the transformation of LED products by General Lighting Company, the current market size growth rate of LED general lighting market will continue to slow down in the future after the "rapid progress" from 2011 to 2017.

 

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
In terms of revenue, the leading enterprise in China's LED lighting industry in 2020 is Mullinsen, with revenue of 17.387 billion yuan; It was followed by Opshine and Lyard, with operating revenue of 7.97 billion yuan and 6.634 billion yuan respectively in 2020.

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