China’s LED Market Scale Hits US$ 32.1 Billion
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China’s LED application market scale reached RMB 200 billion (Us $32.1 billion) in 2013, with residential lighting making up around 30 percent, according to statistics by the Guangya Academy of Lighting Research in Guangzhou. LED lighting prices have dropped a staggering 70 percent over the past two years, with LED 3W bulbs priced at around RMB 14. The market has already accepted LED bulb price/performance ratio. Indoor lighting has become the largest driver for LED application market growth in China.

Lighting market scale will continue to expand, but competition will abnormally intensify, said Pan Wenbo, President of Guangya Academy of Light Research and Founder of the Guangzhou International Lighting Exhibition. Companies unable to cope will gradually drop out from the market, he continued. The dispersed industry will lead to large manufacturers prioritizing acquisition of small niche companies. Mergers will become a catalyst for industry chaos. Industry insiders believe rising industry restructure is related to government policies and investments.  

The opening up of China’s IPO market has made it easier for LED manufactures to become listed. China Securities Regulatory Commission (CSRC)’s recent IPO report revealed that many LED manufacturers including Edison Opto are still queuing to become listed on the Chinese bourse. The incandescent bulb ban headed by countries including the U.S., China, Korea, and Australia in 2014 is spreading from commercial lighting to residential lighting. This will be a substantial development driver for the LED lighting market, and bring listing incentives to LED manufacturers.

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