The market for LED Lighting in China is thriving due to the increasing demand for energy-efficient lighting systems as well as a significant reduction in the cost of LED bulbs. The Chinese government is also encouraging LED manufacturers and distributors by making favorable policies. Others steps of the Chinese government are supporting LED Light manufacturer like by banning incandescent bulbs over 100 watts in the year 2012, and 15 watts in the year 2016. LED lights are widely used in Residential, Outdoor, Industrial and Commercial spaces in China. According to Renub Research analysis China LED Lighting Market is anticipated to be more than US$ 29 Billion by the end of the year 2025. There are various companies in China involving in this market like MLS Co Ltd., Philips Lighting, Os ram, Cree Inc., Foshan Electrical & Light.
Energy saved is energy generated this statement is 100% true for LED Lights. There are several benefits of LED Lighting; some of them are:
- Energy efficiency of Led light is unbeatable than other lighting solutions, LED can save energy more than 90% than traditional lightings.
- The life span of LED light is much higher than other conventional lighting solutions like CFL, metal halide, sodium vapor light and incandescent bulb.
- LED bulbs are safer as they generate much lesser heat, traditional bulbs like incandescent convert more than 90% of the total energy used to power them directly into heat. That means only 10% of the energy powering incandescent lights is used for light.
- The compact size of the LED is useful and adaptable to an infinite number of lighting applications. It can operate well in severe cold and hot temperatures, dimming capability are also a plus point, LEDs can also work at a very low voltage, which makes them safer to use.
- Frequent switching doesn’t create any degradation and damage to these lights. Environmental friendly and almost zero UV emissions also make it a preferred choice for consumers.
The growing demand for LED lighting in China stimulates LED light market. Chinese LED manufacturer mainly focused on Research & Development of LED light; cost reduction, energy efficiency, and environmental friendly, long life. In China, the demand for lower-end LED product is high, but there is also stiff competition in this segment.
In China, penetration of LED lighting is growing at a rapid pace due to supportive government policies that help out LED manufacturer and distributor to a great extent. The Chinese government banned incandescent bulbs over 100 watts in the year 2012. After that, it banned 15 watts in the year 2016. Besides, China is also looking for a framework to replace the fluorescent bulb with an LED. In China, the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) have taken several measures to administer subsidies for proliferating LED Lighting products.
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Consistent Reduction in the Price of LED lighting products stimulates the Market to Expand
In China, technology mechanization in the LED lighting industry has increased over the period. Therefore the average price of LED lighting product has declined and reached to an affordable price as compared to conventional lighting products. According to Renub Research Analysis, the market of LED lighting product will grow during the forecast period, especially in residential segments due to the price reduction of LED.
Key Companies China LED Lighting Sales
In this report, we have taken the top five Key players in the China LED Lighting market include Cree Inc., Philips Lighting, MLS Co. Ltd., Foshan Electrical & Light, Osram.
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