With the global market slowing down, the lighting industry is generally expected to face more intense market competition and increasing price pressures. In general, traditional markets such as Western Europe and North America, as well as the Chinese mainland, are considered to be the markets with the greatest potential in the coming year. In view of the widespread use of LED lighting in the home and business, the industry is further developing intelligent systems and solutions to sustain business growth. In 2016, a lighting exhibitor in Hong Kong, in the global market slowdown, the lighting industry is generally expected to face more intense market competition and increasing price pressure. In general, traditional markets such as Western Europe and North America, as well as the Chinese mainland, are considered to be the markets with the greatest potential in the coming year. In view of the widespread use of LED lighting in the home and business, the industry is further developing intelligent systems and solutions to sustain business growth. At the Hong Kong International Spring Lighting Fair 2016 held in April 2016, HKTDC Economic and Trade Research visited 211 buyers and 131 exhibitors to understand their views on the lighting market prospects and industry trends in the coming year. .
Intensified market competition in 2016
Overall, at a light show in Hong Kong. 62% of visitors and 67% of exhibitors expect that sales in 2016 will increase or remain unchanged. It is worth noting that this ratio is lower than the survey results of the same exhibition in October last year. In fact, the proportion of respondents expecting a decrease in sales this year has increased, accounting for 38% of buyers and 33% of exhibitors, respectively, indicating that the market outlook in 2016 is not very optimistic.
Half of the respondents believe that the price level of lighting products will remain unchanged this year. Under the global economic slowdown, the price competition in the lighting market may increase this year.
As for the growth prospects of individual markets, Western Europe, North America, Australia and the Pacific Islands are the most promising traditional markets in 2016. 35%, 34% and 33% of the respondents rated the outlook as "ideal" and "very ideal". "." In emerging markets, the Chinese mainland, Middle East and ASEAN countries were the most popular, with respondents at 43%, 20% and 19% respectively.
Price pressure is increasing
LED and environmentally friendly lighting, home lighting and commercial lighting products were regarded as the three largest categories of growth potential in 2016, with 35%, 23% and 15% of respondents respectively. These ratios are higher than the results of the October survey. LED products are particularly noteworthy. Almost all of the respondents (99%) and exhibitors (98%) predict that prices will fall by an average of 5% to 9% within one year. In addition, 90% of buyers and 73% of exhibitors expect prices to drop by as much as 20% in three years. Most importantly, 28% of the exhibitors surveyed believe that LED prices will fall by more than 20% in the next three years.
Smart lighting promotes industry development
Another noteworthy development in the industry is smart lighting. Although only 10% of respondents believe that smart lighting and lighting solutions have the greatest growth potential in 2016, 92% believe that smart cities and smart homes will help the lighting industry develop in the next two years, and the survey held in October last year Only 82% of respondents have the same opinion, so this year's ratio is 10% higher than last year. In addition, the Internet of Things (IoT) is gradually emerging as an important factor in the popularity of smart lighting. Respondents believe that the most important development areas of smart lighting include: home lighting systems that can communicate with or be controlled by smartphones/tablets (49% approval); home/industrial/mainly aimed at saving electricity and energy Business intelligence lighting system (46%).
Respondent's information:
A total of 211 buyers were interviewed, 36% of whom were from Hong Kong and the rest were from overseas. The main sales/export markets are Western Europe (23%), Asia (excluding Mainland China) and Hong Kong (19%), and Mainland China (18%).
A total of 131 exhibitors were interviewed, 19% from Hong Kong and the rest from overseas. The main sales/export markets are Western Europe (42%), North America (27%), and Asia (excluding Mainland China) and Hong Kong (10%).
In the above, HKTDC Economic and Trade Research visited 211 buyers and 131 exhibitors to understand their views on the lighting market prospects and industry trends in the coming year.
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