According to latest "2021 Global LED Lighting Market Report-Lighting-Level Packaging and Lighting Product Trends (2H21)" report, the overall recovery of the LED general lighting application market and the continuous increase in niche market demand have made the global LED general lighting, LED plant lighting and LED smart lighting will usher in varying degrees of growth in 2021-2022.
Significant recovery in general lighting (LED Indoor Lighting – Down light, panel light, chandelier light, Outdoor Lighting) market demand
With the gradual popularization of vaccines in various countries, the market economy has begun to recover. Since 2021, the LED general lighting market demand has obviously recovered. The global LED lighting market will reach 38.199 billion U.S. dollars in 2021, with an annual growth rate of 9.5%.
The main growth momentum of the general lighting market comes from four factors:
1. With the gradual popularization of vaccines in various countries, the market economy has gradually recovered, especially the rapid recovery of commercial, outdoor, and engineering lighting.
Second, the price of LED lighting products increased: With the pressure of rising raw material costs, lighting brand manufacturers continued to increase product prices by 3-15%.
3. With the support of energy-saving and emission-reduction policies in various countries around the world, in order to achieve the goal of "carbon neutrality", LED energy-saving renovation projects have been gradually launched, and the penetration rate of LED lighting has continued to increase. According to analysis, the LED lighting market penetration rate will increase to 57% in 2021.
4. Under the epidemic situation, LED lighting manufacturers are accelerating their deployment towards digital intelligent dimming and control of lamps. In the future, the lighting industry will pay more attention to the added value brought by the systemization of products and human health lighting.
