More businesses are switching to LED lighting products, due to the Chinese
government’s promotional policies and lighting consumption costs. According to
an industry source, China’s domestic LED tube shipment growth rate soared above
100% in 2013. In the next five years, growth rates of LED tube lights will be
above 33%, and market sales growth rate will be more than 20%. LED tube light
sales market is projected to reach RMB 44.5 billion in 2017.
According to industry experts, there are different LED lighting products and
market penetration rate levels. These levels are classified according to user’s
price sensitivity and power urgency. In general, lighting application markets
can be further divided into long period factory lighting, while commercial
lighting demands usually take off first. The sector with the fastest penetration
rate tends to be partial lighting applications, and eventually leads to
residential lighting demands.
China’s six government agencies including NDRC, Ministry of Science and
Technology, Ministry of Industry and Information Technology jointly announced a
“LED energy saving industry plan” in early 2013. The plan requires the LED
lighting and energy-saving industry market value to reach an Year-On-Year (YOY)
growth rate of about 30%, and reach RMB 450 billion by 2015. Out of these, LED
lighting application products market value needs to reach RMB 180 billion. The
launch of this project will no doubt become a lamp that lights up the path ahead
for the LED lighting industry.
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