2021-2022 Global LED Lighting Market Outlook: General Lighting, Plant Lighting, Smart Lighting
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Author : Crownda.LED
Update time : 2021-08-20 09:35:55
2021-2022 Global LED Lighting Market Outlook: General Lighting, Plant Lighting, Smart Lighting
According to related reports, the overall recovery of the LED general lighting application market and the continuous increase in niche market demand have enabled the global general LED lighting, LED plant lighting and LED smart lighting to usher in varying degrees of growth in the market from 2021 to 2022.
Significant recovery in general lighting market demand
With the gradual popularization of vaccines in various countries, the market economy has begun to recover. Since 2021, the general lighting LED market demand has obviously recovered. It is estimated that the global LED lighting market will reach 38.199 billion U.S. dollars in 2021, with an annual growth rate of 9.5%.
The main growth momentum of the general lighting market comes from four factors:
1. 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 relevant analysis, the penetration rate of the LED lamping market will increase to 57% in 2021.
2. With the gradual popularization of vaccines in various countries, the market economy has gradually recovered, especially in commercial lighting, outdoor lighting and engineering lighting.
3. Under the epidemic situation, LED lighting fixtures manufacturers are accelerating their deployment towards digital intelligent dimming and regulation of LED lamps. The future lighting industry will also pay more attention to the systemization of connected lighting LED products and the added value brought by human health lighting. .
4. he price of LED lamping products rises: With the pressure of rising raw material costs, LED lighting brand manufacturers continue to increase product prices by 3-15%.
The prospects of the plant lighting market are quite optimistic
The market prospect of LED plant growing lights is quite optimistic. According to the latest research data, the global LED plant lights market will grow 49% annually to reach 1.3 billion US dollars in 2020. It is estimated to be 4.7 billion US dollars in 2025, and the compound growth rate from 2020 to 2025 is 30%. Mainly divided into two major growth drivers:
1. Driven by the policy, LED grow light in North America has been 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.
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