Lighting Industry Export Briefing for the First August of 2023

In recent years, with the progress of technology and economic development, the LED office lighting industry in China has achieved rapid development. According to the analysis of the current situation and development prospects of China's commercial LED office lighting market from 2023 to 2029 released by Market Research Online, the market size of China's LED office lighting industry will maintain a growth rate of 15% and may reach a trillion level by the end of 2020.

Firstly, with the development of enterprises, the size of the office lighting market is constantly expanding. Taking the lighting industry as an example, it is an important component of office lighting. According to data, from 2015 to 2018, the revenue of the lighting industry increased from 4.4 trillion yuan to 6.36 trillion yuan, and the market size increased by 44.3%. With the development of enterprises, the office lighting market will become increasingly large.

Secondly, with the development of technology, the popularity of LED lighting in office lighting is constantly increasing. At present, LED lighting has become the mainstream of office lighting. According to data, the proportion of LED lighting in the office lighting market has exceeded 70% and is still continuously improving. Due to the advantages of LED lighting, such as efficiency, environmental protection, and energy conservation, the market share of LED lighting will further increase, thereby driving the growth of the office lighting market.

In addition, government support policies are also one of the important factors driving the development of the office lighting market. In recent years, government support policies have also been continuously developed to support and promote the development of the LED lighting industry. For example, the government supports small and medium-sized enterprises to use LED lighting more efficiently through policies such as financial subsidies and tax incentives, thereby promoting the development of the office lighting market.

Finally, market competition is also an important factor in the development of the office lighting market, which can stimulate the breadth and depth of market development. At present, the competition in the LED lighting industry is becoming increasingly fierce, with not only an increasing number of market competitors, but also fierce competition among them, thereby driving the development of the entire market.

In short, with the development of technology and economic growth, the market size of China's LED office lighting industry is constantly expanding, and it is expected to reach a trillion level by the end of 2020. Its development is to some extent supported by the government, driven by the development of enterprises and market competition. In the future, more LED office lighting enterprises will enter the market and there will be more technological innovations to meet the growing market demand.