Ten Key Words to Interpret the Development Status of LED Lighting Industry
Lighting electrical industry in the first quarter of 2019, slowly in the ups and downs. In the international market, including the global economic slowdown, the fears of Britain's non-agreement to leave Europe, the continuation of Sino-US trade negotiations and the fluctuation of exchange rate, the impact is still obvious in the industry; the diversification of domestic channels, the continuation of the new three-board delisting tide, tax and fee reform, the reduction of fees and interests, the opening of 5G business, the qualitative change of trends such as smart city and smart street lamp, etc. Including expansion of production, mergers and acquisitions, release of new products and other means; let the industry confused about the future of the industry, but also have more expectations.
Due to the large environmental impact, and the characteristics of LED lighting industry in Zhongshan City are: a large number of enterprises, small size of individual, mainly private components, resulting in low industrial concentration. In the first quarter of 2019, the output value of LED was 17.73 billion yuan, down 5.4% year on year.
In the first quarter of 2019, the export volume of LED lighting products in Zhongshan City was 352 million US dollars, a slight increase of 2.2% compared with the same period last year, which was lower than that in Guangzhou, Shenzhen, Dongguan, Foshan and other regions, and was consistent with the overall market of Guangdong Province, which had a slight increase in a single digit over the same period last year.
Industrial polarization has also led to the development of LED lighting application manufacturers toward a large-scale and differentiated dual-track system. From the industry data of the first quarter of this year, it can be said that under the situation of internal and external difficulties, the performance of general lighting manufacturers outside Zhongshan City or in the city is mostly poor. The relatively good performance is mainly those engaged in low-end wholesale and engineering customization market of household products.
In addition, in response to the Sino-US trade war + the weak domestic household consumption macro situation, the single enterprise and even the single format approach is really limited. The overall macroeconomic growth slowed down, the real estate market was depressed, the financing environment was tightening, the real economy difficulties were aggravated, and the demand of the international market continued to be depressed. The competitive environment of the industry was fierce, with the rigid rise of various costs, serious homogenization of products and malicious price competition. The forecast for 2019 is generally pessimistic.
Compared with last year, the biggest feature of China's macroeconomic trend since this year is that the downward pressure is more obvious, whether in investment or consumption, especially in real estate, the trend of convergence is also very obvious, and the government has also lowered its economic objectives for this year, while further strengthening tax cuts.