North American led lighting market promising
In early 2014, the U.S. government announced a ban on the sale of incandescent bulbs, which undoubtedly brought a blue ocean to the highly competitive Chinese LED companies. North America will become the "deer" of many enterprises with a huge market occupying 23.1% of the global LED.
Benefiting from the continuous fermentation of "White Ban" policy, North American lighting market will bring greater demand growth. According to a recent survey of the state of the lighting industry by US energy-saving lamp manufacturer Precision Paragon, the annual growth of LED lighting products from 2011 to 2013 is about 8%.
In the past five years, China has been the largest importer of LED lighting in the United States and Canada, accounting for nearly 50% of the total imports. At the same time, the development of technology makes the LED lighting products mature and steadily matured, the manufacturing cost is continuously reduced, the scale brought by the Chinese manufacturing, the prices keep dropping, and the advantages of large-scale LED lighting application are obvious.