The LED lighting market is expected to hit 30 billion in 2016

Time：2015-11-26　Hits：2764　Compile：SUNPER

The market of the LED lighting products will reach $30.5 billion in the year 2016. The market of these is improving day by day. This is according to the TrendForce’s Green Energy Business Dvision LED inside. In the study, it was pointed out that the market in this year (2015) is $25.7 billion. Thus, a penetration rate of 30 percent in the next year (2016) will make it to 30.5 billion.

The assistant manager of the LEDinside by the name Wu Ying Jie said an alternative light source product such as lamps and bulbs will have their prices decreasing sharply and this will lead to low profits. Therefore, the lighting manufacturers should start focusing mostly on the field of professional lighting. The government is also expected to launch domestic policies in order to stimulate public construction as well as to initiate new development plans in fields such as engineering lighting, architectural lighting as well as commercial lighting growth potential. Nothing which should be underestimated for good results to be achieved.

The highly developed countries such as America, Japan and Europe continue developing professional lighting to always meet the product diversification and differentiation in the market places. Wu Ying Jie also said that in 2016 the global market in the US and India will be the strongest and hence it is worth attention. The demand power of the United States in this year is relatively string genera. This includes even the commercial and engineering lighting, marine lighting, local lighting as well as plant lighting which have become a major growth momentum.

In the developments initiated in the US major plant, the LED lighting products are expected to rise and hence the LED commercial and engineering lighting will still be the strongest in the market. Plant lighting market and Niche lighting are the most noteworthy since the medical marijuana cultivation is legal. Colorado and Washington will also open recreational marijuana and thus entrepreneurs and system manufacturers will venture into these areas ready to do the business.

The emerging markets such as lighting market development in Africa, America, India and Southeast Asia have a common policy related to the standard case. An example is that the Indian government is scheduled to have a tender of 200 million bulbs before 2016 ends. However, since the winning bidder must meet certain conditions such as revenue, production scale and manufacturing capacity needed, the lighting manufacturers should actively work together with such bidders. Therefore, there is a very good chance for the LED lighting market to reach $30.5 billion by the end of 2016.