The domestic LED lighting market will enter a stage of high growth

Wu Ling, secretary-general of the National Semiconductor Lighting Engineering R&D and Industry Alliance, recently stated that the domestic LED lighting industry has developed rapidly in recent years. As technological progress reduces costs, the prices of domestic LED lighting products will become more affordable. It is expected that the domestic market will usher in high growth next year.

Data from the National Semiconductor Lighting Engineering R&D and Industry Alliance show that in 2013, the market penetration rate of domestic LED lighting products was only about 10%. Wu Ling said that the current development of related domestic industries has continued to drive down replacement costs. When the price of LED lighting products drops and reaches about double the price of traditional lighting products, it is close to a price that is easily acceptable to the people. The domestic LED lighting industry has continued to grow in recent years, with the industry's average annual compound growth rate reaching 30% to 35% over the past decade. Data from the alliance shows that in 2013, the output value of the domestic LED lighting industry has exceeded 250 billion yuan, of which LED downstream application companies account for the largest proportion; it is expected that the output value of the domestic LED lighting industry will exceed 300 billion yuan this year.