The China LED market is expected to exhibit a growth rate (CAGR) of 20.2% during 2023-2028.
LEDs offer numerous advantages over conventional lighting products such as longer shelf life; higher efficiency; environment friendly; controllable; emits no radiation; and uses lower power. LEDs are highly energy efficient and consume significantly less power compared to incandescent bulbs. Driven by their numerous advantages, LED lights are rapidly replacing conventional lighting products in China. The Chinese government is also playing a major role in driving the growth of the sector by offering large scale subsidies for the adoption of LED products. Moreover, the Chinese government has also banned incandescent bulbs in the country with the National Development and Reform Commission first announcing the country’s incandescent bulb phase out roadmap on November 2011. Some of the other key factors driving the LED market in China include infrastructure growth, reducing prices, local energy savings targets and rising urbanization levels.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China LED market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on product type, application and installation type.
Breakup by Region:
l Guangdong
l Jiangsu
l Shandong
l Zhejiang
l Henan
l Others
China LED Market Share, By Product Type (in %)
l Panel Lights
l Down Lights
l Street Lights
l Tube Lights
l Bulbs
l Others
