Simple forecast of LED lighting market trends in 2019

According to the latest industrial research report, 2019 Lighting Grade Packaging and LED Lighting Market Outlook, the LED lighting market will be gradually increasing in size from 2018 to 2023. The CAGR is about 9% from 2018 to 2023, and the market size is expected to reach US$56.6 billion in 2023.

The market trends vary from region to region, and that of Europe, Southeast Asia, and India perform well.

The scale of the European LED lighting market continues to grow, reaching 8.292 billion US dollars in 2018, with a year-on-year growth rate of 9.5% and a penetration rate of over 50%. Among them, the growth kinetic energy of spotlights, filament lamps and decorative LED lighting used for commercial lighting are most remarkable.
1H18 American lighting manufacturers have bright revenue performance, and the main revenue comes from the US market. Under the influence of the tariffs imposed by the Sino-US trade war and the increase in the price of raw materials, the cost is expected to be passed on to consumers.

The Japanese market has a higher unit price and the Japanese economy is starting to pick up. The impact of the 2020 Tokyo Olympics will keep the Japanese market growing.

Southeast Asia is gradually developing into a highly dynamic LED lighting market. Thanks to the rapid growth of the local economy, the large investment in infrastructure and large population, there is a great demand for lighting. The penetration rate of LED lighting in the Middle East and Africa market is rapidly increasing, and the market potential in the future is still expected.

Long-term outlook for the 2019-2020 lighting market trend, the three major opportunities will become the growth momentum of lighting manufacturers, one for the 2020 Tokyo Olympic lighting needs; the second is DLC V5.0 to improve light quality and luminous efficiency, will have the opportunity to re-emerge Improve the requirements of the high-end lighting market.

In addition, the most important thing is that lighting manufacturers expand the combination of different industries to create business opportunities. Currently, there are markets such as architectural smart lighting, human lighting, plant lighting, fishery lighting, stadium lighting, and special lighting.