What are the business opportunities for the LED street lighting market in the future?

Issuing time：2019-12-18

      At a time when the global economy is still sluggish, China's rapid economic growth is quite bright. As a promising emerging market, many international leading manufacturers have begun to attack and use it as their next production base. The plan to replace all inefficient light bulbs with energy-efficient lamps is expected to stand out and become the largest market for LED street lighting systems.

      China's LED street lighting and lighting enterprises have long seen the potential of the future lighting market, and occupied the market with a year-on-year increase in export scale. According to China's professional data, from 2011 to 2015, China's total export growth rate of LED street lighting products has been in a state of rapid growth. In 2015, China's total export of LED street lighting products was 200 million US dollars, an increase of 42.1% over the same period in 2014. And data show that from January to December 2015, China ranked first with 75.4% of imports.

      In addition to the existing protection policies, the relevant government is vigorously supporting local enterprises. The government procurement case will provide 50% of the amount to local LED related lighting product manufacturers, and the market share of local manufacturers will increase in the future. To a certain extent, it will reduce dependence on LED street lighting products in other countries. But for China, the LED street lighting market is in the early growth stage, and the local supply chain is not complete. Therefore, it is still very promising for China's LED lighting manufacturers.