2021 global LED lighting industry development analysis

With the rapid progress of LED lighting technology, technical performance, energy efficiency ratio and cost-effective further improvement, LED lighting products will replace traditional lighting products in a comprehensive trend of increasing penetration, LED lighting has become the mainstream to meet the needs of life and production lighting.

The global LED lighting penetration is accelerating and the market size is growing rapidly.

Due to the promotion and support of policies around the world, the LED market has made great progress, and the penetration rate of LED lighting is accelerating worldwide. According to statistics, by the end of 2018, the global LED lighting penetration has reached 45.3%, and it is expected that the global LED lighting penetration will reach 66% in 2021.

While the global LED lighting penetration rate is further increasing, the global LED lighting market scale also shows a good trend of rapid growth. According to statistics, in 2018, the output value of global LED lighting reached 601 billion yuan, with growth of 12.1%. In 2020, the output value of the global LED lighting industry reached 738.3 billion yuan, with growth of 7.2%. It is expected that in 2021, the output value of the global LED lighting industry is expected to reach 808.9 billion yuan, increase by 4.1%.

In general, with the continuous iteration of LED chip technology and manufacturing process, the luminous efficiency, technical performance, product quality and cost economy of LED lighting products have been greatly improved. Along with industrial chain related businesses and investment increasing, LED light source manufacturing and supporting industry of manufacturing technology grows, the cost of end products mass production economy to further improve, the current LED lighting products has become a household lighting, outdoor lighting, industrial lighting, commercial lighting, landscape lighting, backlit display, such as the mainstream in the field of application. The market penetration rate of LED lighting products to replace traditional lighting products continues to increase, and the market demand will continue to grow.

Post time: Jul-30-2021
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