Leading companies in the lighting industry have more predictions and suggestions for the industry in 2024
Lin Yan, Vice President of Pak
Against the backdrop of weak demand growth and a downturn in the real estate industry, it is expected that the competition in the lighting industry will continue to be very fierce, market differentiation will intensify, price competition in the low-end market will become more intense, and customers in the mid to high end market will be more picky about product quality and service. The industry concentration will further increase, and the market share of top brands will continue to increase.
Zhang Xiao, Chief Product Officer of NVC Lighting
(1) There is no significant change in market demand, but policy incentives will increase; The market size may return to the level of 2021 in 2024, with a general market growth rate of around 8% to 10% (judgment: GDP growth and industry weakness, policy stimulus greater than natural market demand); The industry concentration has slightly increased, but the market share of the top eight in the industry will still be less than 10% (CR8<10%);
(2) The intelligent lighting in the general market will further segment its application scenarios and may incubate new talents in the segmented field;
(3) The growth rate of the special lighting application market is higher than that of the general market, with a growth rate of>20%; The growth rate of the energy-saving lighting market will significantly increase, exceeding 30%, especially in urban road lighting and industrial lighting;
(4) From the market perspective of the past 10 years, the survival status of distributors of major brands has been good. With the intensification of market competition, distributors without major brands or capable of providing solutions and technical services will accelerate their elimination;
Jinhui Lighting as one of lighting industry manufacturer also meet challenge of the market. But we will enhance our competitiveness based on our own conditions.
Extracted from Lightingchina.com
Post time: Apr-15-2024