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LED lighting products are replacing the traditional lighting market worldwide and will continue to be supported by national policies because they are energy-saving and environmentally friendly. In addition to LED lighting applications, the rapid development of automotive lighting, agricultural lighting, medical lighting, and other market divisions are inspiring the LED industry.
From the perspective of the industrial chain, whether it is semiconductor chip production, packaging, or application, China's LED lighting companies are in a dominant position in the world. From the perspectives of cost, quality, and supply cycle, Chinese factories also have a large competitive advantage.
1. National policy
Since LED lighting products are more energy-saving and environmentally friendly, and in line with future development trends, many countries have introduced corresponding incentive policies. At the same time, Chinese companies export LED lighting strips, light bulbs, and other lighting products are also enjoying tax-free concessions. With the support of policies, the scale of the industry is expanding day by day, and the industry chain is becoming more and more complete, which has created favorable conditions for Chinese companies to participate in international competition.
2. Broad market prospects
Traditional LED products are mainly used in landscape lighting, decorative lighting, advertising lighting, display screen backlighting, and other fields. However, with the advancement of the upper technology and the development of the lower end application, LED has been widely used in aerospace, medical, agricultural and other fields. With the steady growth of existing application market share and the emergence of emerging markets, LED products to have broad room for development.
3. Cost reduction
These years, with the advancement of technology and the cost reduction of patents, market demand will be further promoted and product replacement will be more rapid. New products and new technologies will be rapidly promoted, and the application market will be further segmented. The market capacity of the entire industry will be further enhanced.
4. Industry standards continue to improve
With the wider application range of LED products, application standards such as indoor lighting, stadium lighting, and screen backlight have been established. The establishment of these standards will help promote the orderly and standardized development of the LED industry.
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