China LED Lighting Market Size Volume Share by Applications Companies
- 6 years ago
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China LED Lighting Market Size, Volume, Market Share By Applications (Industrial, Outdoor, Residential, & Commercial), Companies (MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light). China LED lighting market is expected to surpass US$ 24 Billion by the end of year 2024. Consistent reduction of LED lighting price in China stimulates the market demand to the great extent. Commercial segment of LED lighting market in China holds the highest market share compared to other segments. Other LED lighting segments such as Residential led market, Industrial led market and Outdoor led market is also performing well in China. Moreover implementation of LED lighting standard in china will further shift the LED lighting into high quality LED product.
Development Trends of LED Industry align with Chinese Key Players
The growing LED industry in China, reinforce LED lighting market to grow faster. The source of LED lighting recognized as the third revolution in lighting history. The Chinese company is more focused on R & D to take advantage of high efficiency and energy-saving LED, green environmental protection, as well as long-life. The larger LED low-end products supply exceeds demand, together with the acute price competitions, resulting the high growth and profit of Chinese LED lighting players. There is short of demand in supply of high-end LED products, giving company a room to raise high prices and rich revenue & profit.
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Increased Penetration of LED Lighting after Government Policies Phasing out Traditional lighting Products for Consideration of Environmental Protection
China banned the imports and sales of all incandescent bulbs over 100 watts since October 2012, and gradually extended the ban to those over 15 watts on October 1, 2016. In addition China also plans to replace CFL with LED on gradual basis. China’s Ministry of Finance (MOF) and National Development and Reform Commission (NDRC) had jointly taken interim measures on administration of financial subsidies for promoting high-efficiency LED lighting products.
The measures included financial subsidies to promote LEDs lighting. Local governments have been much quicker than China’s central government in implementing LED subsidies. Guangdong Province, consist the largest LED industry size in China, has relatively higher amount of subsidies. In 2013, Foshan in Guangdong Province, Dongyuan, Zhongshan and many other cities have launched several subsidy projects to promote LED lighting products in mass level. In Zhongshan city, power costs saved by LEDs are all used to subsidize construction projects.
China LED Lighting Market Size, Volume, Market Share By Applications (Industrial, Outdoor, Residential, & Commercial), Companies (MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light). China LED lighting market is expected to surpass US$ 24 Billion by the end of year 2024. Consistent reduction of LED lighting price in China stimulates the market demand to the great extent. Commercial segment of LED lighting market in China holds the highest market share compared to other segments. Other LED lighting segments such as Residential led market, Industrial led market and Outdoor led market is also performing well in China. Moreover implementation of LED lighting standard in china will further shift the LED lighting into high quality LED product.
Development Trends of LED Industry align with Chinese Key Players
The growing LED industry in China, reinforce LED lighting market to grow faster. The source of LED lighting recognized as the third revolution in lighting history. The Chinese company is more focused on R & D to take advantage of high efficiency and energy-saving LED, green environmental protection, as well as long-life. The larger LED low-end products supply exceeds demand, together with the acute price competitions, resulting the high growth and profit of Chinese LED lighting players. There is short of demand in supply of high-end LED products, giving company a room to raise high prices and rich revenue & profit.
Request a free sample copy of the report: http://www.renub.com/contactus.php
Increased Penetration of LED Lighting after Government Policies Phasing out Traditional lighting Products for Consideration of Environmental Protection
China banned the imports and sales of all incandescent bulbs over 100 watts since October 2012, and gradually extended the ban to those over 15 watts on October 1, 2016. In addition China also plans to replace CFL with LED on gradual basis. China’s Ministry of Finance (MOF) and National Development and Reform Commission (NDRC) had jointly taken interim measures on administration of financial subsidies for promoting high-efficiency LED lighting products.
The measures included financial subsidies to promote LEDs lighting. Local governments have been much quicker than China’s central government in implementing LED subsidies. Guangdong Province, consist the largest LED industry size in China, has relatively higher amount of subsidies. In 2013, Foshan in Guangdong Province, Dongyuan, Zhongshan and many other cities have launched several subsidy projects to promote LED lighting products in mass level. In Zhongshan city, power costs saved by LEDs are all used to subsidize construction projects.