A reading of the lighting market prospects and future trends in the industry

In 2016, a lighting fair in Hongkong, in the global market slowdown, the lighting industry is generally expected to face more intense market competition and increasing price pressures. Generally speaking, traditional markets such as Western Europe, North America and Mainland China are regarded as the most potential markets in the coming year. Given the widespread use of LED lighting in home and industry, the industry is further developing intelligent systems and solutions to maintain business growth. In April 2016 at the Hongkong International Lighting Fair Spring 2016, Hongkong TDC trade study interviewed 211 buyers and 131 exhibitors, to understand their views on the lighting market prospects, and next year's industry trends.

Market competition intensified in 2016

Overall, in Hongkong on a light show. 62% visits to buyers and exhibitors surveyed by the 67% are expected to increase or remain unchanged in 2016. It is worth noting that this ratio is lower than in October last year, the same exhibition survey results. In fact, the proportion of respondents expected to reduce sales this year has increased, accounting for 38% of buyers and exhibitors of 33%, indicating that the market outlook is not optimistic in 2016.

Half of the respondents believe that this year the price level of lighting products will remain unchanged, in the global economic slowdown, the price competition in the lighting market this year may exacerbate.

As for the individual market growth prospects, Western Europe, North America, Australia and the Pacific Islands is the traditional market in 2016 the most growth potential, respectively was 35%, 34% and 33% of the respondents rated the prospect of "ideal" and "ideal". In emerging markets, China, the Middle East and ASEAN countries the most favorable, respondents were 43%, 20% and 19%.

Increasing price pressure

LED and environmental lighting, home lighting and commercial lighting products are regarded as the three largest growth potential in 2016 of the top categories, were selected by the respondents of 35%, 23% and 15%. These rates are higher than in October last year. LED products are particularly noteworthy, almost all respondents buyers (99%) and exhibitors (98%) are expected, the price will decline by an average of between 5% to 1 in the past year. In addition, 90% buyers and exhibitors are expected in, prices fell by as much as 20% in 3 years. Most importantly, 28% of respondents believe that LED prices will decline over the next 3 years more than 20%.

Smart lighting to promote the development of the industry

Another noteworthy development of the industry is smart lighting. Although only 10% of the respondents think that intelligent lighting and lighting program in 2016 has the greatest potential for growth, but 92% believe that the next two years the city of wisdom and intelligence Home Furnishing will help lighting industry development, and hold the same view only 82% of respondents in the survey in October last year, so this year the ratio is 10% higher than last year. In addition, the Internet of things (IoT) gradually emerge, but also an important factor in the popularity of smart lighting day. Respondents, including the most important development in the field of intelligent lighting: with intelligent mobile phone / tablet computer communication, or manipulated Home Furnishing lighting system (49% identity); mainly in energy saving, energy-saving goal of the Home Furnishing / industrial / commercial intelligent lighting system (46%).

Respondents information:

Interviewed a total of 211 buyers, of which 36% from Hongkong, the rest from the field. Major sales / export markets for Western Europe (23%), Asia (excluding mainland China) and Hongkong (19%), as well as mainland China (18%).

Interviewed a total of 131 exhibitors, 19% from Hongkong, the rest from the field. Major sales / export markets for Western Europe (42%), North America (27%), and Asia (excluding mainland China) and Hongkong (10%).

On the other hand, the trade and Economic Research Council of Hongkong visited 211 buyers and 131 exhibitors to understand their views on the future of the lighting market, as well as the industry trends in the coming year.

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