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2016 global led lighting market to reach USD25.7 billion

The global LED lighting market including led light tubes, commercial lighting, architectural lighting etc will reach $25.7 billion dollars and its market penetration will increase to 31% in 2015 as the overall lighting market grows to $82.1 billion.

Europe is the largest LED lighting market. It comprises 23% of the global cool white led flexible light strip market despite its high electricity prices and lack of large-scale subsidies for LED lighting users, said Joanne Wu, an assistant manager at LEDinside, adding that Europe’s demand for LED lighting for commercial and architectural lighting applications is increasing.

China comprises 21% of the overall LED lighting market. As the manufacturing base of most 3528 Waterproof LED Flexible Light Strip producers, China boasts a complete LED supply chain and many cost advantages. Traditional lighting manufacturers, lighting OEMs, emerging LED lighting manufacturers, and LED packaging manufacturers all are expanding their LED lighting businesses. This year, developing viable channel distribution is a top priority for vendors in China. Looking ahead to 2015, the lighting market in China should continue to grow on the back of stable demand for lighting. However, since the market is highly competitive and there is little variation in product quality among different manufacturers, vendors will compete mainly on price, making the probability of a price war high, Wu said. At the same time, without proper distribution channels, manufacturers will be forced to exit the market, she added.

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