China LED Lighting Market is Forecast to go Beyond US$ 24 Billion by the end of Year 2024

Escalating urbanization, price cuts and local energy savings targets make the technology more tempting. Lighting items are vital to the advancement of the national economy and people's livelihood as far as livelihood is concern. Apart from that China's lighting industry has been on the rise and the country has become a leading world lighting consumer and producer date back to 20 years. Bharat Book Bureau announces the addition of the report "China LED Lighting Market Size, Volume, Share By Applications (Industrial, Outdoor, Residential, & Commercial), Companies (MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light)" to its offering.

For promoting high-efficiency LED lighting products, National Development and Reform Commission (NDRC) and China's Ministry of Finance (MOF) had collaborated to look after interim measures on administration of financial subsidies. The actions like financial subsidies to promote LEDs lighting is working. In the current scenario, Local governments are working more proactively in response than China's central government in implementing LED subsidies. In China, Guangdong Province, consist the largest LED industry size and has relatively higher amount of subsidies. As of 2013, Foshan in Guangdong Province, Dongyuan, Zhongshan and many other cities have launched several subsidy projects to promote LED lighting products in mass level. In the mean time, Power costs saved by LEDs are all used to subsidize construction projects in Zhongshan city.

Since, October 2012, China has banned the imports and sales of all incandescent bulbs over 100 watts, and on October 1, 2016, steadily extended the ban to those over 15 watts. Besides, China also plans to put back CFL with LED on gradual basis.