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The LED lighting market is fully open. The next three to four years are the golden period for the industry.

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The LED lighting market is fully open. The next three to four years are the golden period for the industry.

Release time:
2018/06/20
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The policy support of major countries in the world and the decrease of LED cost will surely promote the outbreak of LED general lighting market. The LED lighting market is a large market with a level of 100 billion, which will hopefully enable the industry to maintain a wave of 3-4 year cycle opportunities.
 
Downstream of LED lighting applications include backlighting, landscape display, general lighting (street lights, commercial lighting, and civilian lighting). General lighting includes residents, office buildings, shopping malls, hospitals, outdoor, industrial and agricultural lighting. The general lighting market is huge. According to the forecast of McKinsey Consulting, the global lighting product market is 95 billion U.S. dollars in 2011, and it will grow to 130 billion U.S. dollars by 2020, and the largest share of the lighting market is general lighting. 710 billion US dollars, and predict that until 2020, the general lighting market will also have a 3 to 6% compound growth rate growth.
 
According to the McKinsey Consulting data, the penetration rate of LED in general lighting is about 12% in 2011, penetration rate will reach 43% in 2016, penetration rate will be 64% in 2020, and we can figure out the scale of LED general lighting market in 2011. It will be about 8.5 billion U.S. dollars. By 2016, the figure will reach about 40 billion U.S. dollars (about 200 billion U.S. dollars). In 2020, it will be a huge market of about 69 billion U.S. dollars. LED penetration rate in the general lighting market is still relatively low, and LED has huge room for growth in the general lighting market. In the next 3-4 years, LED will have the golden growth period with the fastest increase in penetration rate of LED lighting market.