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Development status and Prospect of China's LED lighting industry in 2021

Release time:

2022-03-16 10:09

LED lighting is a kind of semiconductor solid-state light-emitting device, namely LED lighting. It uses a solid semiconductor chip as a light-emitting material, emits excess energy through carrier recombination in the semiconductor, and directly emits red, yellow, blue and green light. On this basis, it can emit light of any color by using the principle of three primary colors and adding phosphors. The lighting fixtures made of LED as light source are led lamps. In LED lighting fixtures, LED lighting fixtures for reflective purposes can be fully qualified for any occasion.

Industry development status

(1) Industry market scale further improved

China is the largest manufacturer of LED lighting products. With the penetration rate of domestic LED lighting market rapidly rising to more than 70%, LED lighting has basically become the rigid demand for 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 China's LED lighting market will reach 582.5 billion yuan in 2021.

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

(2) LED lighting penetration rate in China 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

2. industry development prospect

(1) Low penetration rate in overseas market and wide demand space

From the perspective of product supply, China is the world factory of the global LED lighting product industry chain and the main supplier of LED light source, driving power supply and LED application products in the global market. As the market penetration rate of overseas led lighting products is still at a relatively low level, the potential space for overseas market demand is still very broad. As the largest exporter of LED lighting products, the export market of China's LED lighting industry has broad market demand space under the trend of accelerated penetration of LED lighting and accelerated expansion of market demand all over the world.

(2) The updating and iteration speed of related technologies is fast, and the market activity is high

In recent years, LED chip technology and manufacturing process, LED light source manufacturing and manufacturing technology of supporting industries have been updated and iterated rapidly. Taking LED light sources as an example, the luminous efficiency of common LED light sources has developed from about 40-60lm/w in 2004 and 2005 to 190lm/w now. With the continuous updating and iteration of product technology, the incremental market for upgrading continues to increase, creating fully active market opportunities. At the same time, compared with traditional lighting products, LED lighting products have the characteristics of high luminous efficiency and energy efficiency ratio, stability and durability, dimmable lighting, easier intelligent control, etc. in addition to traditional lighting applications, emerging application fields such as smart lamp poles, plant lighting, UVLED, visible light communication, etc. are also increasing. The continuous expansion of their application fields is increasingly bringing new market demand growth points and further expanding the market scale.

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