Analysis of the Global Lighting Engineering Market Prospects and China's Potential Stocks

Release date: 2018-02-22 Source: Guzhen Lighting News Sharing:

First, the global lighting project support policy

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 and was entrusted to six large companies and two universities. This initiative aimed to boost high-brightness field lighting, such as traffic lights, large display signs, and car lights, as well as high-density optical storage technologies.

Japan

Japan began its “21st Century Light Project” in 1998, focusing on the development and industrialization of semiconductor lighting technology. It was one of the first countries to introduce LED industry policies. Over time, Japan implemented a series of guidelines to promote LED adoption, leading to the country achieving the highest LED penetration rate globally by 2015. In 2015, Japan also passed legislation banning mercury in certain products like batteries and fluorescent lamps.

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 and supported by the Department of Defense and the Optoelectronics Industry Development Association (OIDA), this initiative involved 12 national labs, companies, and universities. The NGLI program was later integrated into the U.S. “Energy Policy Act,” securing $10 million annually for 10 years to drive the U.S. LED industry forward and create high-value jobs domestically.

Second, market size analysis

From 2012 to 2017, the global lighting engineering market continued to grow, with significant increases in 2013 and 2015. By 2017, the market reached approximately $264.5 billion, up about 15% from 2016. With ongoing developments in China’s market, the global lighting engineering market is expected to keep expanding in the coming years.

Third, usage structure analysis

From a usage perspective, home lighting accounted for 39.34%, the largest share, followed by workplace lighting at 16.39%. Field and retail lighting each contributed 14.75% and 11.48%, respectively. Hospital, building, and industrial lighting still remained below 10%, indicating room for growth in these sectors.

Fourth, regional market share

Regionally, China, Europe, and the United States remain the most important markets. China accounts for 22% of the global market, while Europe holds around 22%, and the U.S. follows with 21%. Japan’s share is 6%, due to its small territory and near-full LED penetration, which limits further growth compared to other regions.

Fifth, future development trends

(1) Usage Trends: Scene-based lighting will gain more attention globally. The market potential is vast, and applications will expand to more countries, including Africa and the Middle East, where lighting projects are still underdeveloped. In terms of depth, it will penetrate into agriculture and other industries, requiring tailored engineering solutions.

(2) Product Trends: The LED penetration rate will continue to rise. Future lighting products will be led by LED technology, with higher levels of smart features and digital integration.

(3) Technology Trends: Global cooperation among lighting engineering companies will strengthen. As communication improves, design and construction techniques will see significant advancements.

(4) Market Trends: In LED lighting, the U.S. market is nearly saturated, while the market will increasingly concentrate in Asia, especially in countries like India and China, where demand for lighting is strong.

Sixth, market prospects speculation

With the continuous efforts of major players in the global lighting market, the scale of the global lighting engineering market reached approximately $264.5 billion in 2017.

Looking ahead, leading countries will continue to implement supportive policies for their local lighting companies, and multinational firms will accelerate their expansion. The global lighting engineering market is expected to grow rapidly, reaching $468.5 billion by 2023.

Label: Global Lighting Engineering Market Prospects, Analysis of China's Largest Potential Stocks

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