- The key vendors in the general lighting market in China 2015-2019 are General Electric, Koninklijke Philips, Osram, Dongguan Kingsun Optoelectronic and NVC Lighting Technology.
London, 28 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the general lighting market in China 2015-2019. With a lighting trend shift toward domestic interiors, the Chinese market is likely to witness demand for personalized luminaires. Architectural lighting is used to emphasize important features of buildings or settings. The general lighting market in China is expected to post a CAGR of 16.01% during the forecast period of 2014-2019.
LED lights are energy efficient, cost-effective, and they last longer than other incandescent lamps. The Chinese government is providing subsidies to companies to reduce the cost and increase production of LEDs. Upcoming projects for airports, railways, and luxury malls will also contribute to the growth of lighting market.
“With increasing awareness of green technology, manufacturers are also focusing on energy-efficient and eco-friendly lights,” says Faisal Ghaus, Vice President of Technavio Research.
“The demand for LEDs will likely continue to rise, due to their longer lifespan, the growing popularity of green lighting, China’s subsidy policy encouraging energy conservation, and increasing awareness among consumers.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
