How is 2019 LED lighting market going?

The LED lighting market is gradually increasing in size from 2018 to 2023. The LED lighting market is expected to reach US$56.6 billion in 2023. The CAGR is 9% from 2018 to 2023.

The scale of the European LED lighting market continues to grow, reaching 8.292 billion US dollars in 2018, with a year-on-year growth rate of 9.5% and a penetration rate of over 50%. Among them, the growth kinetic energy of spotlights, filament lamps and decorative lamps for commercial lighting is most remarkable.

American lighting manufacturers have bright revenue performance, and the main revenue comes from the US LED lighting market. Under the influence of the tariffs imposed by the Sino-US trade war and the increase in the price of raw materials, the cost is expected to be passed on to consumers.

The Japanese LED lighting market has a better affordability and the Japanese economy is starting to wake up. The impact of the 2020 Tokyo Olympics will keep the Japanese LED lighting market growing.

Southeast Asia is gradually developing into a very dynamic LED lighting market. Thanks to the rapid growth of the local economy, large investment in infrastructure and large population, there is a great demand for lighting. The penetration rate of LED lighting in the Middle East and Africa market is rapidly increasing, and LED lighting market potential in the future is still expected.

Long-term outlook for the 2019-2020 LED lighting market trend, the three major opportunities will become the growth momentum of lighting manufacturers, one for the 2020 Tokyo Olympic lighting needs; the second is DLC V5.0 to improve light quality and luminous efficiency, will have the opportunity to re-emerge Improve the requirements of the high-end lighting market. In addition, the most important thing is that lighting manufacturers expand the combination of different industries to create business opportunities.