China's LED Lighting Market To Rapidly Develop In Next Few Years
One of China’s leading B2B search platforms Frbiz.com has predicted that the annual average compound growth rate will reach 38.8%, and the landscape lighting LED market scale's annual average CGR will reach 21.5%.
LED lighting is a major LED application market. Currently, landscape lighting and LED lights are two application fields that are developing very fast. The general lighting market for short-term projects is hard to start, as the cost is the biggest problem blocking the popularization of LED lighting lamps.
At present, the cost of LED lighting appliances is five to ten times that of fluorescent lamp appliances and HID xenon lamp instruments. The high cost is due to the illuminant price and higher parts prices associated with LED appliances.
Because landscape lighting products have low sensitivity to prices, the market started earlier. China's landscape LED market's compound annual growth rate reached 42.8% this year, with each lumens cost gradually declining and government support increasing. The LED lighting market's development pace is accelerating and the field of penetration is largely increasing.
Frbiz.com says that LED lighting is likely to be the first alternative to halogen lamps in China. At present, halogen lamps are mainly applied in store business facilities. If replaced with LED lighting lamps, there could be a large reduction in energy consumption and electricity fees.
It is expected that during 2010-2013, China's LED lighting market will see rapid development momentum. The street lamp LED market scale's annual average compound growth rate will reach 38.8%, and the landscape lighting LED market scale's annual average compound growth rate will reach 21.5%. This growth is higher than the market average compound growth rate, and the lighting industry's rapid development will continue to drive LED product market demand.