© michal mrozek dreamstime.com Business | April 29, 2013
China’s LED lighting market demand value to go up
The Chinese government successfully passed a series of domestic policies in 2012 that serve to not only stimulate LED lighting demand, but also to strengthen the entire business momentum within the LED lighting market.
A few of the key policies worth noting include the proposed spending of 2.2 billion RMB on the promotion of CFL and LED lights. Bans on the sales of 100 Watt-and-above incandescent light bulbs, along with those of halogen lamps whose efficiency levels fall below required standards, took effect on October 1st, 2012. With the general demand for traditional lighting replacement, both LED-based and energy-saving lighting items are expected to gain significant momentum. LEDinside has attempted to measure Chinese LED lighting market value by formulating a model based on the original demand for general luminous flux and the replacement demand for LED-based lighting. As a means to ensure as much prediction accuracy as possible, factors such as China's domestic economic growth and the factors to raise LED lighting penetration rate in China were also taken into account. LEDinside has forecasted that by 2015, the Chinese LED lighting demand will rise up to as high as $US 10 billion. Assuming the country is successful in maintaining its economic growth and increasing LED lighting popularity, the demand value is likely to reach a staggering US$ 22 billion in 2020. Despite the large, huge scale of China’s LED lighting market, different marketing channels are expected to exert different impacts on the various production life cycles of LED lighting products. While China’s LED industry development is at present still known to be dependent on engineering projects and bidding projects, the situation is expected to change for the better if more and more LED lighting manufacturers deeply develop their business channels and tradition lighting manufacturers generally use LED luminaires. As indicated by LEDinside, through the help of online and physical sales channels, the popularity of LED lighting products will ultimately be greater now than it has ever been in the past. In time, LED lighting is expected to break away from the confines of its segmented market and be able to reach a wider, broader audience in China.
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