About the lighting market
The scale of LED lighting market from 2018 to 2023 is gradually increased. The market size of LED lighting is expected to reach 56.6 billion usd in 2023, and the CAGR is estimated to be 9% in 2018-2023.LED lighting trends vary globally, with markets in Europe, southeast Asia, and India performing wellThe scale of LED lighting market in Europe continues to grow, reaching usd 8.292 billion in 2018, with a year-on-year growth rate of 9.5% and a penetration rate of over 50%. Among them, the growth momentum of spotlights, filament lamps and decorative lamps used for commercial lighting is the most significant.
H18 has had strong revenue performance in the United States, with the majority of revenue coming from the U.S. market. Costs are expected to be passed on to consumers as a result of tariffs and higher raw material prices due to a trade war between China and the United States.
The high unit price of products in the Japanese market, as well as the recovery of the Japanese economy, will help the Japanese market to maintain a good growth due to the impact of the 2020 Tokyo Olympic Games.
Southeast Asia is gradually developing into a very dynamic LED lighting market. Thanks to the rapid economic growth, large infrastructure investment and large population, there is a great demand for lighting. LED lighting penetration in the Middle East and Africa is rapidly increasing, and the future market potential is still to be expected.
Looking ahead to the trend of 2019-2020 lighting market, three major opportunities will become the growth drivers of lighting manufacturers' revenue. Secondly, DLC V5.0 will improve the light quality and luminous efficiency, and it will have the opportunity to improve the requirements of the high-end lighting market again. In addition, the most important thing is that lighting manufacturers expand the combination of different industries to create business opportunities. At present, we can see the markets of architectural smart lighting, human factor lighting, plant lighting, fishery lighting, gymnasium lighting, special lighting and so on.
