China’s LED Lighting Market Value Soars in 2016
China’s LED lighting market value will surpass RMB 500 billion (US $72.45 billion) by 2016, said Ling Wu, the Secretary General of China’s International Solid State Alliance (ISA).
China’s LED lighting industry established a comprehensive supply chain, and made huge advancements in technology innovation. During first half of 2016, LED companies revenue rose by nearly 40%.
The LED industry is becoming increasingly polarized and concentrated at the same time, said Wu.
Rising downstream application demands propelled rebounding prices throughout the supply chain, and emergence of products with highly added value are also coming under the industry lime light. New trend of specialized and niche lighting applications, include smart lighting, grow lights, UV LED, IR LED, Visible Light Communications (VLC), automotive lighting and other applications.