China LED Lighting Market Is Forecast To Go Beyond US$ 24 Billion By The End Of Year 2024

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Dec 01, 2017, 00:30 ET

NEW YORK, Dec. 1, 2017 /PRNewswire/ -- China LED lighting market is forecast to go beyond US$ 24 Billion by the end of year 2024.

Read the full report: https://www.reportlinker.com/p05214550

Escalating urbanization, price cuts and local energy savings targets make the technology more tempting. Lighting items are vital to the advancement of the national economy and people's livelihood as far as livelihood is concern. Apart from that China's lighting industry has been on the rise and the country has become a leading world lighting consumer and producer date back to 20 years.

Government of China Enthusiastically backing LED Lighting
For promoting high-efficiency LED lighting products, National Development and Reform Commission (NDRC) and China's Ministry of Finance (MOF) had collaborated to look after interim measures on administration of financial subsidies. The actions like financial subsidies to promote LEDs lighting is working.

In the current scenario, Local governments are working more proactively in response than China's central government in implementing LED subsidies. In China, Guangdong Province, consist the largest LED industry size and has relatively higher amount of subsidies.

As of 2013, Foshan in Guangdong Province, Dongyuan, Zhongshan and many other cities have launched several subsidy projects to promote LED lighting products in mass level. In the mean time, Power costs saved by LEDs are all used to subsidize construction projects in Zhongshan city.

Since, October 2012, China has banned the imports and sales of all incandescent bulbs over 100 watts, and on October 1, 2016, steadily extended the ban to those over 15 watts. Besides, China also plans to put back CFL with LED on gradual basis.

Commercial Segment of LED Lighting Market in China holds the Highest Market Share
In China, Commercial segment of LED lighting market dominates the LED market share compared to other segments. Other LED lighting segments such as Residential LED lighting market, Industrial LED lighting market and Outdoor LED lighting market is also performing well in China. Moreover implementation of LED lighting standard in china will further shift the LED lighting into high quality LED product.

Due to cutting edge technology & Innovation in Led lightening products, prices of Led bulbs is gradually diminishing & reaching closer to the conventional lightening products

Year on Year, due to cutting edge technology and innovation in Led lightening products, the average price of Led bulbs is gradually diminishing and reaching closer to the conventional lightening products. Therefore, as of now, the demand of led lightening products especially in residential and commercial lightening market is expanding.

Key Players China LED Lighting Sales
Key players in the China LED Lighting market include Philips Lighting, MLS Co Ltd., Osram, Cree Inc., Foshan Electrical & Light
Renub Research latest study "China LED Lighting Market Size, Volume, Share By Applications (Industrial, Outdoor, Residential, & Commercial), Companies (MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light)" provides a detailed and comprehensive insight of the China LED Lighting Market. This 76 page report with 38 Figures & Tables studies the China LED lighting market from 4 points.

Types of LED Lighting Market & Volume
• Industrial LED Lighting
• Outdoor LED Lighting
• Residential LED Lighting
• Commercial LED Lighting

Key Player covered in the Report
• MLS Co Ltd.
• Philips Lighting
• Osram
• Cree Inc.
• Foshan Electrical & Light

Scope of the Report
• China LED Lighting Market & Forecast: We have defined LED lighting market of China. Market data from 2010 to 2016 and forecast from 2017 to 2024
• China LED Lighting Volume & Forecast: We have defined LED lighting volume of sales in China. Volume data from 2010 to 2016 and forecast from 2017 to 2024.
• China LED Lighting Price Analysis: We have analyzed the LED lighting product price from 2010 to 2019
• China LED Lighting Value Chain: It provides complete detailed analysis of current and future value chain of LED lighting in China.
• Key Growth Drivers: It studies the different factors which is helping the LED lighting market to grow in China.
• Key Challenges: It explain the core challenges within LED lighting industry.
• Key Players Analysis: We have covered five key players and their LED revenue in China. Apart from sales analysis, we have also covered overview of the company and LED latest development trends.

Read the full report: https://www.reportlinker.com/p05214550

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