First, the status quo and dilemma of China's LED lighting market
1. Status of China's LED lighting market
The LED lighting market is considered to be one of the most important and promising applications for LEDs in the future. Compared with traditional lighting sources such as incandescent lamps and fluorescent lamps, white LEDs have the advantages of energy saving, environmental protection, color adjustment and long life, which is an inevitable trend in the future development of lighting.
In the early days, due to the low luminous efficiency of LEDs and the high cost of use, the promotion of LED lighting was restricted. In recent years, with the improvement of LED luminous efficiency, the gradual reduction of comprehensive costs, and the vigorous promotion of energy conservation policies by governments, LED lighting has ushered in tremendous development opportunities.
With the continuous development of LED industry technology, the luminous efficiency of LED lighting products continues to improve, the quality of LED lighting products has been significantly improved, and the price of LED lighting products has been declining, as well as the promotion of government policies and corporate promotion, people are lighting LED lighting. Product awareness is gradually improved. Benefiting from this, the demand for LED lighting products has continued to grow rapidly in recent years, and the LED lighting industry in China has also developed rapidly. In 2010-2014, the output value of China's LED lighting market grew rapidly year by year, and the growth rate accelerated. Especially in 2012-2014, the annual output value growth rate was above 40%.
At the end of 2014, affected by factors such as the international political environment, exchange rate fluctuations in some countries were serious. Exchange rate fluctuations caused export companies and import enterprises to bear large exchange rate risks, which in turn negatively affected their willingness to ship and purchase. The demand for LED lighting export market declined. Especially in emerging markets represented by developing countries, the impact is considerable.
In 2015, the LED lighting market continued to continue the negative market sentiment at the end of 2014. The demand in the European and American markets maintained a steady growth at the original level, but the demand for emerging demand markets declined significantly, and the overall demand growth rate of the market showed a slowdown, resulting in many domestic LEDs. The operating company lost the order.
In 2015, China's LED lighting market achieved a production value of 210.5 billion yuan, a year-on-year increase of 18.5%, and the growth rate slowed by 26.4 percentage points compared with 2014.
Chart 1: Changes in the output value of China's LED lighting market in 2010-2015 (Unit: 100 million yuan, %)
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Source: Gaogong Research Institute LED Research Institute (GGII)
In 2015, the LED lighting market demand slowed down. Among them, the LED indoor lighting field was the most affected. In 2015, the output value of China's LED indoor lighting market reached 135.3 billion yuan, a year-on-year increase of 25%, and the growth rate was 48 percentage points lower than that of 2014. Despite this, LED indoor lighting is still the main engine for the continued growth of the LED application industry.
Figure 2: Scale and growth rate of China's LED lighting industry in 2015 (unit: 100 million yuan, %)
Source: Gaogong Research Institute LED Research Institute (GGII)
2. China's LED lighting market dilemma
In the production process of LED lighting fixtures, the cost of raw materials accounts for more than 70%. Other costs include labor costs, equipment depreciation and other expenses. The labor cost is closely related to the automation degree of the production equipment of the enterprise. The higher the automation degree of the production equipment of the enterprise, the lower the labor cost ratio, and vice versa.
Comparing the cost structure of typical LED lighting enterprises in China, it can be found that the proportion of labor costs is increasing overall. At present, China's demographic dividend is gradually disappearing, the cost of employing people is increasing year by year, and the proportion of labor costs of manufacturing enterprises will be further increased. In addition, as the real estate prices in many places in China, especially in coastal areas, rise rapidly, the cost of land for enterprises is also rapidly increasing. It has become the two major difficulties faced by many manufacturing companies.
Figure 3: LED lighting cost structure of leading LED lighting companies in China for the past three years (unit: %)
Source: Gaogong Research Institute LED Research Institute (GGII)
Second, the era of China's LED lighting automation production
As China's manufacturing costs increase year by year, the state has introduced a series of policies to encourage the improvement of production automation and achieve the purpose of machine substitution. Automated intelligent manufacturing has become a difficult problem for all Chinese manufacturing industries. At present, in the field of LED lighting, LED lighting manufacturers are affected by various factors such as equipment cost reduction, enterprise recruitment difficulties, general increase in staff wages, continuous improvement of staff management costs, continuous improvement of enterprise land cost, and continuous improvement of product quality requirements. The demand for automation and intelligence of production equipment is growing.
The LED lighting fixture automatic production equipment includes LED lighting intelligent manufacturing production line system (automatic assembly of LED lamps, online aging detection of LED lamps, automatic packaging of LED lamps and other equipment) and intelligent manufacturing of LED lamps. Since its market is still in its infancy, Only a handful of companies with technical research and development capabilities are involved in this field. At present, South China is mainly represented by Hyun Shuo Optoelectronics, Lian Shuo Technology and Huayang Group; the East China region is mainly represented by Zhongwei Optoelectronics and Suzhou Yuantai.
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