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The LED lighting industry has a broad development space

The development of LED technology has matured and entered a period of profit creation with added value.


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LED lighting products take advantage of traditional light sources

The development of LED technology has matured and entered a period of profit creation with added value. With technology development, capacity enhancement and policy support, LED lighting products have an overwhelming advantage in both quality and price. Future LED lighting products will gradually phase out incandescent and gas powered light sources.



LED industry chain analysis



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1. The concentration of the middle and upper reaches of the LED industry chain is high, and industrial transfer is a foregone conclusion. The upstream epitaxial chip entered the peak of expansion, and the market share was highly concentrated, showing the industry pattern in which the remaining is king. The package in the middle reaches a super-strong situation, the production capacity is gradually gathered, and the Matthew effect is obvious. The transfer of foreign production capacity in the upper and middle reaches is a foregone conclusion. Under the background of intensive production and policy subsidies, the cost of LED terminal products will gradually decline, which is conducive to the improvement of the profitability of LED downstream application companies.

The downstream application is polarized, growing rapidly and with a wide space. According to the statistics of "LED lighting industry market prospects and investment strategic planning analysis report" released by Prospective Industry Research Institute, general lighting is the most stable and broad market in LED application. China's LED market starts to develop late and is expected to be China in 2020. The sales of LED lighting products accounted for 70% of the total sales of the lighting industry. In 2015-2017, the scale of China's LED lighting market climbed rapidly. The market scale increased from 155.6 billion yuan to 255.1 billion yuan. The growth rate in the three years was 98.5 billion yuan. The compound annual growth rate is 27.6%. It is estimated that the scale of China's LED lighting market will reach 450 billion yuan in 2020.


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Integrating mergers and acquisitions, diversified layout, and global development are the future development of LED industry

Foreign giants divested the lighting business, and domestic companies ushered in an opportunity. From 2015 to 2017, the LED lighting industry has more than 40 major M&A integration transactions every year. The M&A targets have also expanded to the education, media, Internet and other fields. Into the new field, mergers and acquisitions in the same industry, layout of the global market, integration of the upper, middle and lower reaches of the same industry chain is the main direction of mergers and acquisitions in the LED industry.

China's LED industry is favored by policies. The leading companies in the upstream and midstream have used technological advantages, cost advantages and financing advantages to continuously increase market share. Under the impetus of the downstream lighting application, the performance growth of the general lighting demand can be expected. In the future, the industry's leading performance will maintain steady growth.