Development Status Of LED Lighting Industry

Development status of LED lighting industry

(1) The market scale of the industry was further improved

China is the largest manufacturer of LED lighting products. With the rapid increase of the penetration rate of domestic LED lighting market to more than 70%, LED lighting has basically become the rigid demand of lighting applications. The scale of domestic LED lighting market shows a faster growth momentum than the global average. According to statistics, the output value of China's LED lighting market has increased from 301.7 billion yuan in 2016 to 526.9 billion yuan in 2020, with an average annual compound growth rate of 14.95%. It is estimated that the scale of China's LED lighting market will reach 582.5 billion yuan in 2021.

Data source: Led Research Institute of senior industry research (GGII) and China Commercial Industry Research Institute

(2) The penetration rate of domestic LED lighting has been greatly improved

According to the statistics of the national semiconductor lighting engineering R & D and Industry Alliance (CSA), the domestic market penetration of China's LED lighting products (domestic sales volume of LED lighting products / total domestic sales volume of lighting products) has increased from 42% in 2016 to 78% in 2020. It has developed rapidly and the industry market scale has further increased.

Data source: compiled by national semiconductor lighting engineering R & D and Industry Alliance (CSA) and China Commercial Industry Research Institute.