According to TrendForce’s latest "Global LED Lighting Market Report 2021-Lighting-Level Packaging and Lighting Product Trends (2H21)" report, the overall recovery of the LED lighting market and the continuous increase in niche market demand have led to global LED general lighting and LED plants. The market size of lighting and LED smart lighting will usher in varying degrees of growth from 2021 to 2022.
The main growth momentum of the lighting market may come from four major factors:
1. With the gradual popularization of vaccines in various countries, the market economy has gradually recovered, especially in commercial, outdoor, and engineering lighting.
2. The price of LED lighting products increased: With the pressure of rising raw material costs, lighting brand manufacturers continued to increase product prices by 3-15%.
3. With the support of energy-saving and emission-reduction policies in various countries around the world, in order to achieve the goal of "carbon neutrality", LED energy-saving renovation projects are gradually launched, and the penetration rate of LED lighting continues to increase. According to TrendForce's analysis, the LED lighting market penetration rate will increase to 57% in 2021.
4. Under the epidemic situation, LED lighting manufacturers are accelerating their deployment towards digital intelligent dimming and control of lamps. In the future, the lighting industry will pay more attention to the added value brought by the systemization of intelligent networked lighting of products and human-caused healthy lighting.
