Press release
China LED Lighting Market Is Expected To Surpass US$ 24 Billion By The End Of Year 2024
China LED Lighting Market
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.
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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.
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.
Affordable Price of LED lighting products stimulates the Market Growth
Due to Increased advancement & cutting-edge technology in LED lighting products, the average price of LED bulb has consistently decreased during the last couple of years and reached closer to the tradition lighting products. Therefore the demand of LED lighting products especially in residential and commercial lighting market is growing year on year.
Get Complete TOC With Tables and Figures @ https://www.researchmoz.us/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-report.html/toc
Key Companies China LED Lighting Sales
Key players in the China LED Lighting market include MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light
Renub Research latest study “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)” provides a detailed and comprehensive insight of the China LED Lighting Market. This 76 page report with 38 Figures & Tables studies the China LED lighting market from 4 points.
Types of LED Lighting Market & Volume
- Industrial LED Lighting
- Outdoor LED Lighting
- Residential LED Lighting
- Commercial LED Lighting
Key Player covered in the Report
- MLS Co Ltd.
- Philips Lighting
- Osram
- Cree Inc.
- Foshan Electrical & Light
Scope of the Report
- China LED Lighting Market & Forecast: We have defined LED lighting market of China. Market data from 2010 to 2016 and forecast from 2017 to 2024
- China LED Lighting Volume & Forecast: We have defined LED lighting volume of sales in China. Volume data from 2010 to 2016 and forecast from 2017 to 2024.
- China LED Lighting Price Analysis: We have analyzed the LED lighting product price from 2010 to 2019
- China LED Lighting Value Chain: It provides complete detailed analysis of current and future value chain of LED lighting in China.
- Key Growth Drivers: It studies the different factors which is helping the LED lighting market to grow in China.
- Key Challenges: It explain the core challenges within LED lighting industry.
- Key Players Analysis: We have covered five key players and their LED revenue in China. Apart from sales analysis, we have also covered overview of the company and LED latest development trends.
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