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2019 lighting market development direction: smart lighting, niche lighting, new
by：ALLTOP
2021-04-13
From 2016 to 2019, the scale of the LED lighting market has gradually increased. The LED lighting market scale reached 32.717 billion U.S. dollars in 2018 and 33.3 billion U.S. dollars in 2019. Replacement lighting has entered a saturation period; industrial, landscape outdoor, and special commercial lighting continue to develop.
According to the survey, the global installed lighting product inventory, LED lighting products replacement of traditional lighting is growing rapidly, the penetration rate in 2017 was 22%, and it is estimated that it will reach 63% in 2022, and the LED lighting product inventory CAGR from 2017 to 2022 (Compound annual growth rate) reached 26%.
The output value of the lighting package market in 2018 reached 7.16 billion US dollars
The output value of the lighting-level packaging market has grown by more than 10% year-on-year in 2017, and the growth rate in 2018 is expected to be close to 7.8%, reaching 7.16 billion US dollars. Replacement light sources such as bulbs and tubes have entered the saturation period; while industrial lighting products such as patio lights, and commercial lighting products such as troffer, panel lights, filament lights, etc., the CAGR is still as high as about 30%. The overall CAGR of the 2016-2021 lighting-grade LED package is 4%.
Light quality is still the focus of market attention. High color rendering LEDs refer to LED packaging products with a CRI above 90. Currently, they are mostly used in high-end commercial lighting markets that are more critical of color reproduction and light quality, such as museum lighting, retail lighting, and food lighting. The current market for high-color-rendering LEDs is relatively small. In 2017, the global market size was approximately US$330 million. However, in the next few years, with the increasing market demand and the development of packaging technology, it is expected to show a trend of rapid growth.
The three main axes of the development of the lighting market in 2018
Spindle 1: Smart Lighting
In 2017, the global smart lighting entered a stage of rapid development. The market size was close to 4.6 billion U.S. dollars, with a year-on-year growth rate of 95%. With the maturity of technology and products and the popularization of related concepts, it is estimated that it will reach 13.4 billion U.S. dollars in 2020. Industry and commerce are the largest application fields of smart lighting. Because of the characteristics of digitalization, smart lighting will bring more new business models and value growth points to these two fields.
Spindle Two: Niche Lighting
LEDinside organizes four major niche lighting markets, including plant lighting, medical lighting, fishery lighting and marine port lighting. Among them, the U.S. and Chinese markets are rapidly increasing the demand for plant lighting, and the construction of plant factories and the demand for greenhouse lighting are the main driving forces.
Spindle Three: Lighting in Emerging Countries
The economic development of emerging countries drives infrastructure construction and the increase in urbanization rates. Large-scale commercial facilities and the construction of infrastructure and industrial zones stimulate the demand for LED lighting. In addition, the energy-saving and emission-reduction policies of various countries and local governments, such as energy subsidies, tax incentives, etc., large-scale bidding projects such as street lamp replacement, residential and commercial district renovation, and the improvement of lighting product standard certification are all promoting the promotion of LED lighting. . Among them, the Vietnamese and Indian markets in Southeast Asia have grown the fastest.
In the post-lighting era, the development strategy analysis of lighting manufacturers
First: Due to the high production capacity of traditional lighting, international lighting manufacturers are gradually transforming LED lighting and have far-reaching plans for LED lighting products. The proportion of LED lighting revenue growth is not as good as the manufacturers' expectations, so they will accelerate LED Lighting business innovation and growth to achieve profitability goals.
Second: Lighting manufacturers whose regional development is king, simply called the National Representative Team or Local King, are supported by the national government to block foreign manufacturers through specifications, bids, tariffs, etc., and provide policy incentives and subsidies Etc., to encourage local lighting manufacturers to develop lighting products quickly.
Third: Having niche advantages, especially channel advantages, with technical assistance, entering special markets and other emerging lighting manufacturers, whether it is light bulbs or lamps, they can use LED lighting products from the beginning, and their revenue contribution is equal enough.
Fourth: Enterprises with mid-upstream production or OEM business transformation as their brand, Chinese lighting manufacturers are based on the global lighting production and manufacturing largest base in the Chinese market, leveraging the advantages of scale in production and manufacturing costs, creating Chinese lighting manufacturers It has accumulated a solid foundation for entering the global market.
According to the survey, the global installed lighting product inventory, LED lighting products replacement of traditional lighting is growing rapidly, the penetration rate in 2017 was 22%, and it is estimated that it will reach 63% in 2022, and the LED lighting product inventory CAGR from 2017 to 2022 (Compound annual growth rate) reached 26%.
The output value of the lighting package market in 2018 reached 7.16 billion US dollars
The output value of the lighting-level packaging market has grown by more than 10% year-on-year in 2017, and the growth rate in 2018 is expected to be close to 7.8%, reaching 7.16 billion US dollars. Replacement light sources such as bulbs and tubes have entered the saturation period; while industrial lighting products such as patio lights, and commercial lighting products such as troffer, panel lights, filament lights, etc., the CAGR is still as high as about 30%. The overall CAGR of the 2016-2021 lighting-grade LED package is 4%.
Light quality is still the focus of market attention. High color rendering LEDs refer to LED packaging products with a CRI above 90. Currently, they are mostly used in high-end commercial lighting markets that are more critical of color reproduction and light quality, such as museum lighting, retail lighting, and food lighting. The current market for high-color-rendering LEDs is relatively small. In 2017, the global market size was approximately US$330 million. However, in the next few years, with the increasing market demand and the development of packaging technology, it is expected to show a trend of rapid growth.
The three main axes of the development of the lighting market in 2018
Spindle 1: Smart Lighting
In 2017, the global smart lighting entered a stage of rapid development. The market size was close to 4.6 billion U.S. dollars, with a year-on-year growth rate of 95%. With the maturity of technology and products and the popularization of related concepts, it is estimated that it will reach 13.4 billion U.S. dollars in 2020. Industry and commerce are the largest application fields of smart lighting. Because of the characteristics of digitalization, smart lighting will bring more new business models and value growth points to these two fields.
Spindle Two: Niche Lighting
LEDinside organizes four major niche lighting markets, including plant lighting, medical lighting, fishery lighting and marine port lighting. Among them, the U.S. and Chinese markets are rapidly increasing the demand for plant lighting, and the construction of plant factories and the demand for greenhouse lighting are the main driving forces.
Spindle Three: Lighting in Emerging Countries
The economic development of emerging countries drives infrastructure construction and the increase in urbanization rates. Large-scale commercial facilities and the construction of infrastructure and industrial zones stimulate the demand for LED lighting. In addition, the energy-saving and emission-reduction policies of various countries and local governments, such as energy subsidies, tax incentives, etc., large-scale bidding projects such as street lamp replacement, residential and commercial district renovation, and the improvement of lighting product standard certification are all promoting the promotion of LED lighting. . Among them, the Vietnamese and Indian markets in Southeast Asia have grown the fastest.
In the post-lighting era, the development strategy analysis of lighting manufacturers
First: Due to the high production capacity of traditional lighting, international lighting manufacturers are gradually transforming LED lighting and have far-reaching plans for LED lighting products. The proportion of LED lighting revenue growth is not as good as the manufacturers' expectations, so they will accelerate LED Lighting business innovation and growth to achieve profitability goals.
Second: Lighting manufacturers whose regional development is king, simply called the National Representative Team or Local King, are supported by the national government to block foreign manufacturers through specifications, bids, tariffs, etc., and provide policy incentives and subsidies Etc., to encourage local lighting manufacturers to develop lighting products quickly.
Third: Having niche advantages, especially channel advantages, with technical assistance, entering special markets and other emerging lighting manufacturers, whether it is light bulbs or lamps, they can use LED lighting products from the beginning, and their revenue contribution is equal enough.
Fourth: Enterprises with mid-upstream production or OEM business transformation as their brand, Chinese lighting manufacturers are based on the global lighting production and manufacturing largest base in the Chinese market, leveraging the advantages of scale in production and manufacturing costs, creating Chinese lighting manufacturers It has accumulated a solid foundation for entering the global market.
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