China's Functional Lighting Market Has Achieved Rapid Growth, and the Replacement of LED Lighting Pr

1. In 2019, the market scale of China's functional lighting industry will exceed 380 billion yuan

Functional lighting is mainly to meet people's visual operation. It is a kind of general lighting. Generally speaking, it has large quantities and low gross profit margin. From 2013 to 2019, China's functional lighting market achieved rapid growth, from 132 billion yuan in 2013 to 340.8 billion yuan in 2018, with an average annual compound growth rate of 20.8%. In 2019, the market scale of the industry will further expand, reaching about 382.5 billion yuan.

Note: 2019 is the forecast value.

2. Road lighting is the main market, and the number of projects continues to grow

Functional lighting mainly includes road lighting, tunnel lighting, rail transit lighting, urban lighting, etc. Among them, road lighting accounts for more than half of the country. According to the data released by China lighting network and China mining and bidding network, 20865 bidding information with road lighting as the keyword was released in 2018, showing a significant growth trend. In 2019, the number of industrial projects is still growing, reaching about 24178.

East China is still the main force of bidding, accounting for 40%. Among them, Jiangsu still ranks first in the number of bidding, far exceeding Zhejiang and Shandong, which rank second and third. In addition, Guangdong, Guizhou, Henan and Hebei are also relatively active.

3. The replacement of LED lighting products has become a trend, and the penetration rate has gradually increased

At present, LED lighting products gradually begin to replace ordinary lighting products. LED lighting meets the requirements of China's low-carbon economic development, and it is also the only way to realize the green lighting of the whole industry. Therefore, the penetration rate of LED lighting products is gradually increasing, and it is very likely to realize the complete replacement of lighting products in the future. In particular, the application of intelligent lighting system and multifunctional lamp pole in the past two years has promoted the replacement speed of LED street lamps. In 2018, there were 8452 procurement items of LED street lamps, with a relatively small growth rate; In 2019, the number of LED street lamp bidding procurement projects is about 9430.

From a regional perspective, Zhejiang surpassed Jiangsu in one fell swoop, ranking first in the amount of LED street lamp procurement information, Guangdong ranked second, and Jiangsu and Guizhou ranked third, regardless of autumn.

Overall, with the continuous maturity of LED lighting technology and its characteristics of high efficiency, safety, energy saving, environmental protection and long service life, it is a trend for LED street lamps to replace traditional street lamps.

China's Functional Lighting Market Has Achieved Rapid Growth, and the Replacement of LED Lighting Pr 1

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