The China government has set a 2020 target production value of CNY1 trillion (US$164 billion) for all types of LED products, with 70% of the value to come from LED lighting, according to Digitimes Research.
The target production value for 2020 is double the CNY500 billion set for 2015 in China's 12th Five-year Plan (2011-2015), and the corresponding proportion for LED lighting is 40ppt higher than the 30% set in the plan, Digitimes Research indicated.
Two main factors will account for the large growth in LED lighting: one is that China's urbanized population as a percentage of total is forecast to keep rising from 52.4% in 2012 to 60% in 2020 and this is conducive to growth in demand for outdoor and indoor LED lighting; the other is that the total length of intercity freeways, railways and subways in China will increase to 4.5 million km, 120,000km and 3,000km respectively in 2015 and this will lead to demand for LED lighting.
In addition, there is fast growing demand for LED street lamps in China, and in 2014 particularly, the demand is estimated at 1.68 million lamps.
This article is an excerpt from a Chinese-language Digitimes Research report. Click here if you are interested in receiving more information about the content and price of a translated version of the full report.
