Major listed companies in the industry: Mulinsen (002745); Foshan Lighting (000541); Sunshine Lighting (600261); Debon Lighting (603303); Ocean King Lighting (002724), etc.

The core data of this article：Market size; development history; policy; regional development pattern

The global LED lighting industry is rapidly replacing traditional lighting products

The general lighting market can be divided into LED general lighting and traditional lighting. The global lighting industry has experienced four stages: incandescent lamps at the end of the 19th century, energy-saving fluorescent lamps at the beginning of the last century, energy-saving lamps in the 1980s, and then to the current LED lighting. LED lighting relies on higher energy efficiency. , longer life, more energy-saving and environmental protection and many other advantages are realizing the replacement of traditional lighting products. LED lighting started in 1962 when General Electric invented the light-emitting diode. Then a series of lighting technology revolutions were carried out, which promoted the popularization of LED. At present, LED lighting technology has matured and is rapidly replacing traditional lighting products.

Countries issue policies to support the development of LED lighting industry

Since the 21st century, global environmental problems have become increasingly prominent, and all countries in the world have increased their emphasis on environmental protection. LED lighting products have the characteristics of energy saving and environmental protection, and have become the first choice of countries all over the world. All countries have introduced corresponding industrial support policies to support the development of their own LED lighting industry.

In 2016, Europe took the lead in releasing the "European Lighting Industry 2025 Strategic Roadmap", which proposed two main development lines of "improving the quality of life" and "circular economy", and further added sustainable lighting and healthy lighting on the basis of lighting energy saving development content. Japan also proposed in the "2030 Vision of Japan's Lighting Industry" that 100% LED lighting will be achieved by 2030, and the penetration rate of smart lighting and human-induced lighting will reach 40% by 2030.

China has become the world's largest LED lighting producer

my country has become the world's largest producer of LED lighting. In addition, the development of the Asia-Pacific LED market dominated by emerging economies is significantly better than that of the European and American LED markets dominated by developed economies. In the Asia-Pacific LED market, the markets in East Asia, West Asia, Southeast Asia, and Oceania are developing well, but the South Asian market is greatly affected by the decline in the Indian market, which accounts for more than 60%. Saudi Arabia, South Korea, and Thailand, as representatives of West Asia, East Asia, and Southeast Asia, respectively, have achieved super-high growth under the negative impact of the epidemic, reflecting strong development vitality. In the European and American LED markets, the recovery of the North American market is better than that of the European market and the South American market. Major European economies such as Germany, Britain, the Netherlands, and France all experienced declines to varying degrees.

The market size of the global LED lighting industry is showing an upward trend

From 2017 to 2021, the market size of the global LED lighting industry will show an upward trend. In 2020, due to overcapacity and the impact of the new crown pneumonia epidemic, the global LED upstream epitaxial chip industry and midstream packaging industry will shrink to a certain extent, but the downstream application market still shows strong resilience. In 2021, as the global epidemic eases, the development space of the downstream market will increase. In 2021, the global LED lighting industry market will reach 153.5 billion US dollars, a year-on-year increase of 10%.

The market size is expected to reach 275 billion US dollars in 2027

In the first half of 2022, the world will fall into high inflation and the economic downturn, the conflict between Russia and Ukraine will lead to high energy costs, the downturn in the real estate cycle and repeated epidemics will seriously affect the demand for home and commercial lighting markets. Consumption has rebounded, and the demand for energy-saving renovation projects in Europe and Japan has made up for the decline in the commercial lighting market. In addition, economic activities in Southeast Asia performed well, which offset the severe decline in market demand in China. In the second half of 2022, with the introduction of stimulus policies, market demand will improve.

Looking forward to the future, the future lighting industry will pay more attention to the light quality of products (such as high luminous efficiency, high color rendering, R9 value and color tolerance) and intelligence. Therefore, it is estimated that by 2027, the global LED lighting industry market will reach 275 billion Dollar.