Analysis of the Global Lighting Engineering Market Prospects and China's Potential Stocks
Release date: 2018-02-22
Source: Guzhen Lighting News
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First, global lighting project support policies
Europe
In July 2000, the European Union launched the “Rainbow Program†and established the European Center for Cooperative Research (ECCR). The BRITE/EURAM-3 program supported the development of white LEDs, entrusting six major companies and two universities. This initiative aimed at boosting high-brightness field lighting, such as traffic lights, large displays, and automotive lighting, as well as high-density optical storage solutions.
Japan
Since 1998, Japan has been implementing the “21st Century Light Project,†focusing on semiconductor lighting technology. It was one of the first countries to introduce LED industry policies. The government later introduced guidelines to promote LED lighting, leading to a 50% penetration rate in the country by the early 2010s.
In 2015, the Japanese Ministry of the Environment submitted a bill to phase out mercury-containing products like batteries and fluorescent lamps, which was passed by the Senate in June of that year.
United States
In 2002, the U.S. government launched the “National Semiconductor Lighting Seminar†and the “Next Generation Lighting Solutions (NGLI)†program. Funded by the Department of Energy, it involved 12 national laboratories, companies, and universities. The NGLI program was later included in the “Energy Policy Act,†receiving $10 million annually for 10 years to support the U.S. LED industry and create high-value jobs.
Second, market size analysis
From 2012 to 2017, the global lighting engineering market continued to grow, with significant increases in 2013 and 2015. In 2017, the market reached $264.5 billion, up about 15% from 2016. With ongoing developments in China, the global market is expected to continue expanding rapidly in the coming years.
Third, usage structure analysis
Home lighting accounted for 39.34% of the global market, followed by commercial lighting at 16.39%. Field and retail lighting took 14.75% and 11.48%, respectively. Hospital, building, and industrial lighting remained below 10%, indicating lower adoption rates in these sectors.
Fourth, regional market share
China, Europe, and the U.S. remain the largest markets. China’s market accounts for 22% of the global total, while Europe holds 22% and the U.S. 21%. Japan’s share is 6%, due to its small territory and near-full LED penetration.
Fifth, development trends
(1) Usage Trends: Scene lighting will gain attention globally, especially in regions like Africa and the Middle East, where the market potential is vast. Lighting applications will expand into agriculture and other industries.
(2) Product Trends: LED penetration will increase further, with future products becoming more intelligent and information-driven.
(3) Technology Trends: Global collaboration among lighting companies will strengthen, leading to improved design and construction techniques worldwide.
(4) Market Trends: LED lighting in the U.S. is nearly saturated, with growth shifting toward Asia, particularly China and India, where demand remains strong.
Sixth, market prospects speculation
With continuous efforts by major players, the global lighting engineering market reached approximately $264.5 billion in 2017. Looking ahead, the market is expected to grow rapidly, reaching $468.5 billion by 2023, driven by policy support and increasing global demand.
Label: Global Lighting Engineering Market Prospects Analysis, China's Largest Potential Stocks
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