Zhitong Finance APP learned that according to TrendForce's latest "2021 Global LED Lighting Market Report-Lighting-Level Packaging and Lighting Product Trends (2H21)" report, the LED general lighting application market is fully recovered and niche market demand continues to increase, making The global LED general lighting, LED plant lighting and LED smart lighting will usher in varying degrees of growth in the market scale from 2021 to 2022. TrendForce said that with the gradual popularization of vaccines in various countries, the market economy has begun to recover. Since 1Q21, the LED general lighting market demand has obviously recovered. It is estimated that the global LED lighting market will reach 38.199 billion US dollars in 2021, with annual growth. Up to 9.5%.
TrendForce believes that the main growth momentum of the general lighting market comes from four factors:
1. With the gradual popularization of vaccines in various countries, the market economy has gradually recovered, especially the rapid recovery of commercial, outdoor, and engineering lighting.
Second, the price of LED lighting products rises: With the pressure of rising raw material costs, lighting brand manufacturers continue to increase product prices by 3-15%.
3. With the support of energy-saving and emission-reduction policies in various countries around the world, in order to achieve the goal of "carbon neutrality", LED energy-saving renovation projects have been gradually launched, and the penetration rate of LED lighting has continued to increase. According to TrendForce's analysis, the LED lighting market penetration rate will increase to 57% in 2021.
4. Under the epidemic situation, LED lighting manufacturers are accelerating their deployment towards digital intelligent dimming and control of lamps. In the future, the lighting industry will also pay more attention to the systemization of connected lighting products and the added value brought by human health lighting. .
It is reported that the market prospect of LED plant lighting is quite optimistic. According to the latest research data from TrendForce, the global LED plant lighting market will grow 49% annually to reach 1.3 billion U.S. dollars in 2020. It is estimated to be 4.7 billion U.S. dollars in 2025. The compound growth rate in 2025 is 30%. Mainly divided into two major growth drivers:
1. Driven by the policy, LED plant lighting in North America has been further expanded to enter the recreational cannabis and medical cannabis cultivation markets.
2. Frequent extreme weather changes and epidemic factors have increasingly highlighted the importance of consumers for food safety and localized crop production and supply, thus driving agricultural growers' market demand for leafy vegetables, strawberries, tomatoes and other crops.
It is understood that, globally, Americas and EMEA are the areas with the largest demand for plant lighting, and they are expected to account for 81% in 2021.
Americas: During the epidemic, North America has accelerated the process of lifting the ban on cannabis, which has played a significant role in promoting the demand for plant lighting. The Americas will continue to maintain a rapid growth trend in the next few years.
EMEA: The Netherlands, the United Kingdom and other European countries actively advocate the establishment of plant factories and propose relevant subsidy policies to boost the willingness of agricultural growers. They have built plant factories in Europe to increase the demand for plant lighting. In addition, the Middle East, represented by Israel and Turkey, and the African region represented by South Africa, are increasing their own agricultural output due to intensified climate change factors, and are gradually increasing investment in facility agriculture.
APAC: In response to COVID-19 and the needs of the localized agricultural market, Japanese plant factories have received renewed attention, developing high-value crops such as leafy vegetables, strawberries, and grapes. Plant lighting in China and South Korea continues to shift to the cultivation of high-economic crops such as Chinese medicinal materials and ginseng to improve the economic benefits of products.
According to TrendForce, the penetration rate of smart street lamps has been increasing; governments in various countries have increased infrastructure construction in order to alleviate economic difficulties, including North America and China. Among them, roads are a major item of social infrastructure investment. In addition, with smart street lamps With the increase in penetration rate and price adjustment, TrendForce forecasts that the market size of smart street lamps will grow by 18% annually in 2021, and the compound growth rate (CAGR) will be 14.7% from 2020 to 2025, which is higher than the overall general lighting average.
Finally, from the perspective of the revenue of lighting manufacturers, although the current COVID-19 still brings many uncertainties to the global economic development, it is still in danger. Many lighting manufacturers are gradually adopting "lighting products" + "digital system" professional lighting The solution provides a healthier, smarter and convenient lighting experience, and continues to bring steady growth momentum to the revenue growth of lighting manufacturers. It is expected that the revenue of lighting manufacturers will show a 5-10% annual growth in 2021.
