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LED lighting is booming, and the governments of the United States and Japan are strongly supporting the development of LED technology.
Jan 24,2014
Due to its significant advantages in energy efficiency and environmental friendliness, LED technology is being increasingly applied. In particular, the recent push in the United States, Canada, and Europe to ban incandescent bulbs has led to a surge in the replacement of LED lighting equipment, thereby stimulating market demand growth. Currently, overseas companies are generally optimistic about the development prospects of the LED lighting market in 2014 and expect this field to become a future business focus and growth driver.
Increased support from the U.S. government
Starting in 2014, the United States and Europe will gradually ban 40W-60W incandescent bulbs. This policy provides a broader opportunity for the application of LED lighting products and stimulates global LED lighting manufacturers to accelerate production, further increasing the penetration rate of LED lighting.
Currently, the U.S. government is gradually increasing its support for LED lighting by increasing subsidies for lighting products with "Energy Star" certification, encouraging a decrease in LED fixture prices. The U.S. "Energy Star" program has been implemented since 1992, aiming to guide consumers in choosing high-efficiency products. Consumers who purchase "Energy Star" products will enjoy benefits such as tax reductions or direct subsidies provided by the program.
Against this backdrop, U.S. LED manufacturer Cree and others are optimistic about the development of the LED lighting market in 2014, expecting that the sales growth of replacement fixtures will become the next business focus and growth driver.
Cree is the largest LED product manufacturer in the United States, founded in 1987 and listed on the NASDAQ market in 1993. Its lighting products feature unique material technology and advanced white light technology, leading the global industry. Cree will release its quarterly financial report on January 21, and the company expects that due to strong demand for LED lighting, last quarter's revenue will increase to $400-420 million, a year-on-year growth of 24%, with a gross profit margin of 38%, up 1.8 percentage points from a year ago. Over the past year, Cree's stock price has risen by 85%, and its current market value is $7.5 billion.
In the relatively mature European market, although there are no large-scale subsidies for the LED industry, the high electricity prices in the region create a continuous demand for commercial lighting and outdoor architectural lighting applications. Industry insiders expect that in the coming years, as the impact of the ban on incandescent bulbs fully takes effect, the market will continue to show stable growth.
Major LED lighting companies in Europe include Osram, headquartered in Munich, Germany. The company was once a wholly-owned subsidiary of Siemens and became independent from the Siemens system in July last year. Its products are widely used in public places, offices, factories, homes, and automotive lighting. The stock price of the company listed in Frankfurt has increased by 94% over the past year.
Japan started early with a high penetration rate.
In Japan, where the energy crisis is particularly prominent, the growth rate of the LED industry is astonishing. As early as 1998, Japan launched the industrialization project "21st Century Light Plan," becoming one of the first countries in the world to release policies supporting LED development. In addition, Japan was also one of the first countries to ban incandescent bulbs.
With large-scale support from the Japanese government, the LED industry has developed rapidly, with the penetration rate of LED lighting products growing exponentially. Especially after the "3.11 earthquake" in 2011, the promotion of energy-saving measures following the Fukushima nuclear power plant accident significantly increased the penetration rate of LED lighting in Japan. According to statistics, the penetration rate of LED bulbs in Japan currently reaches 60-70%, ranking first in the world.
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