According to the latest report of trendforce Jibang consulting (2022) global LED lighting market analysis - 2h22, according to the research of trendforce Jibang consulting, in the first half of 2022, the world fell into high inflation and economic downturn. The conflict between Russia and Ukraine led to high energy costs, downward real estate cycle and repeated epidemics, which seriously affected the domestic and commercial lighting market demand. However, the reopening of the economy in Europe and America and frequent business activities stimulated consumption to rebound. In addition, Europe and The demand for energy-saving renovation projects in Japan made up for the decline in the commercial lighting market. In addition, the economic activities in Southeast Asia performed well, offsetting the serious decline in the market demand in China
In the second half of 2022, with the introduction of stimulus policies, the market demand will be improved in the fourth quarter. Comprehensive analysis: under the background of high inflation, the price of LED lighting products is strong. Trendforce consulting revised the global LED lighting market scale to US $64.61 billion (+ 0.5% YoY) in 2022 (Note: since 2h21, the LED lighting market scale covers brand and white brand markets)
Looking forward to the future, the lighting industry will pay more attention to the light quality of products (such as high luminous efficiency, high color rendering R9 value and color tolerance), human health lighting and intelligence. Therefore, trendforce Jibang consulting estimates that the global LED lighting market scale will be US $78.36 billion in 2026 and the compound growth rate will be 3.9% from 2021 to 2026 (Note: since 2h21, the lighting market scale covers the brand and white brand markets)
Led smart street lamp Market
In the first half of 2022, although LED street lamp construction projects slowed down due to the impact of the epidemic and the conflict between Russia and Ukraine, in the second half of 2022, with the release of favorable policies and the low base period, there will be an opportunity to grow by 7% to US $840 million for the whole year. In the future, smart city construction and development is expected to start a new round in 2023. Achieving the most important functions and demands through smart control is a key factor to promote the growth of smart street lamps. With the increase of LED smart penetration rate (2021) By 2026, the compound annual growth rate is expected to reach 15.5%
In terms of communication protocol, according to the latest data of trendforce Jibang consulting, in 2021, the proportion of PLC adoption accounted for about 76.6%, followed by ZigBee, accounting for about 13.3%, while NB IOT has just reached maturity in application and is growing rapidly. Due to its advantages of wide coverage of network infrastructure, it has achieved low power consumption and low construction cost. It has the development trend of replacing ZigBee, and currently accounts for 7.0% of the smart street lamp control market. In addition, the communication technology of 4G transmission is The application proportion of intelligent street lamps has also gradually increased
Led plant lighting market
In the past two years, led plant lighting market has witnessed rapid growth driven by the North American cannabis market. However, in the second half of 2021, due to the impact of supply chain obstruction and the crackdown on illegal cannabis cultivation in North America, the market demand began to weaken. In 2022, due to the slowdown in the legalization of cannabis in North America and the sharp drop in the market in China, the growth of the plant lighting market continued to slow down. However, due to the increased demand for LED equipment replacement in greenhouses in Europe and the increase in lighting products Under the stable price, the estimated market size is US $1.79 billion, with an annual growth of 6.6%
Looking into the future, under the background of food safety and global climate change, smart agriculture is increasingly put on the agenda of governments around the world. In addition, the legalization of marijuana continues to be promoted. In the future, the market demand for LED plant lighting will maintain a stable growth trend. Trendforce consulting estimates that the market scale will reach 2.89 billion US dollars in 2026, and the compound growth rate will be 11.5% from 2021 to 2026
Revenue of lighting manufacturers
According to the analysis of the latest statistical data of trendforce Jibang consulting, it is estimated that the total lighting revenue of the top 30 lighting manufacturers will grow by 1% - 3% on average in 2022. Among them, it is worth noting that the increase in M & A activities of leading enterprises and the optimization of product portfolio are estimated that the total lighting revenue of the top 10 lighting manufacturers will grow by more than 3%. In 2022, the conflict between Russia and Ukraine led to the high energy cost and the increasing demand for LED energy saving, which accelerated the replacement of traditional lighting products. It is estimated that the top 20 lighting manufacturers will The average growth of LED lighting revenue is 2% - 5%
Many lighting manufacturers gradually provide customers with a more healthy, intelligent and convenient lighting experience with the professional solutions of lighting products + digital systems. Meanwhile, focusing on the niche application market with high gross profit rate will be the continuous driving force to drive the growth of lighting manufacturers\\\' revenue
