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Illustration 60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 Kheng Ho To / Dreamstime
60886103 / Kheng Ho To / Dreamstime
60886103 / Kheng Ho To
photo_535609 / brownm39 / DreamsTime
Hye Jin Kang / DreamsTime
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy

China’s LED lighting market to more than double by 2017

Jan. 10, 2014
China’s light-emitted diode (LED) lighting market will more than double to $7.4 billion in 2017 from $3.1 billion, as ongoing urbanization, local energy savings targets and price cuts make the technology more appealing, according to Lux Research

A report published by Lux Research says China’s light-emitted diode (LED) lighting market will more than double to $7.4 billion in 2017 from $3.1 billion, as ongoing urbanization, local energy savings targets and price cuts make the technology more appealing. Lux Research says both residential and commercial segments will drive LED lighting to a compound annual growth rate (CAGR) of 24%, far outpacing the 5.6% CAGR for the broader lighting market. As a result, LED lighting will grow its share of the lighting market from 9.6% to 18%.

The residential segment shows fastest growth. The Chinese residential LED market will grow from $23 million in 2013 to $310 million in 2017, a CAGR of 92%, the highest among five market segments — as average prices fall the fastest, from $6.02 per fixture in 2013 to $3.13 in 2017.