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China LED Lighting Market to Experience Rapid Growth in Next Few Years

Studies show that total market size of the global lighting market (includes both LED and traditional lightings) in 2010 was US$79.3 billion. Demand is expected to increase due to China's economic success and policies aiming to narrow the gap between urban cities and rural areas. Market watchers estimate that by 2015 China's lighting market will reach US$20 billion, accounting for 18.3% of the global market. Developed economies such as Europe and North America currently account for more than 50% of the global lighting market with market size close to US$40 billion. However, the growth is expected to slow down as developments have come to a certain stage. China's lighting market, on the other hand, will show rapid growth.  Market research institutes indicate China's LED lighting market has been stimulated by the 2008 Olympics in Beijing and Expo 2010 in Shanghai. Local governments have also been providing policies to support and encourage the development of the industry. In a few years, it is likely for the demand for LED related products to increase as China focuses on major developments that are also eco-friendly.