The rapid expansion of LED street lighting market

The rapid expansion of LED street lighting market

The concentration of outdoor street lighting engineering industry is relatively low. The urbanization construction in developing countries has been further promoted, with a year-on-year increase of 11.85%. In general, the market size of my country's lighting engineering industry in 2017 was 382.97 billion yuan. It is estimated that by 2024, Landscape lighting is valued at USD 100 billion.

The competition is fierce, and we believe that it will benefit from the policy support of LED street lights and the increase in energy-saving demand.

All will work together to promote the rapid development of the lighting engineering industry. It is expected that the overall scale of the global general lighting market in 2020 will exceed 1, and the market size of the lighting engineering industry in my country will reach 768.4 billion yuan, due to the expansion of the general lighting industry and LED lighting As the penetration rate increases, the LED penetration rate will continue to increase.

The substitution effect of LED outdoor street lamps on traditional light sources is expected to continue to be released. Through a simple analysis of the market scale of the LED street lamp lighting industry, we can learn about the future.

The penetration rate of LED lighting rose from 0.6% in 2010 to 42% in 2016. With the development of the global economy in the future, the LED general lighting industry will be promoted to maintain rapid growth. With the deepening of my country's urbanization process and the increase in market demand, the LED street lighting market is expanding rapidly.