Yin Renquan, Guangdong Photoelectric Technology Association: In addition to intelligent lighting, these segments will also usher in new growth!
According to preliminary estimates, China’s lighting industry sales in 2022 will be about 639 billion yuan, down 6% year-on-year. Entering 2023, with the gradual recovery of the economy, China’s lighting industry seems to be picking up, of which the export business is more obvious.
So, what is the situation of the current lighting market? What about the lighting market in the second half of this year? Which segments are poised for growth… With the topic of general concern in the industry, this issue, Quanzhou Jinhong Photoelectric Technology Co., Ltd. invited Yin Renquan, Executive secretary of Guangdong Photoelectric Technology Association, to discuss and listen to his views!
01
According to your observation, what is the overall lighting market in the first quarter of 2023? Is it warming?
Yin Renquan: The first quarter of 2023 is the first quarter after China’s epidemic policy adjustment, and it is also the beginning of the global economic recovery after the epidemic. In the global consumer market is still relatively sluggish environment, China’s lighting industry started relatively stable, the market gradually picked up, mainly in the following three aspects:
First, the exhibition activities are accelerating the recovery and development trend. Since March, including the 2023 Hong Kong International Spring Lighting Fair, 2023 Guzhen Lighting Fair, 2023 Ningbo International Lighting Exhibition and other professional lighting related exhibitions have sprung up, ushering in an endless stream of visitors.
Second, the overall performance of listed enterprises shows a good trend. In mid-to-late April, A number of A-share listed companies of LED lighting successively released the first quarter report of 2023. According to the reported data, many companies achieved double profit growth in the first quarter.
Third, the lighting industry foreign trade basically remained stable. In the first quarter of 2023, the total export volume of China’s lighting products was about 13.3 billion US dollars, accounting for about 3% of the export volume of mechanical and electrical products, which was basically unchanged from the same period last year. Lighting industry foreign trade basically remained stable, the first quarter to achieve a stable export start, showing a strong resilience. Among them, exports in March were about 5.2 billion US dollars, up more than 40% year-on-year.
02
What kind of trend do you expect the lighting market to show in the second half of the year and even the whole year?
Yin Renquan: From the current market situation, most enterprises are optimistic about the domestic and foreign trade market in the first half of the year, actively participate in industry-related exhibitions to seize orders, and go abroad to explore the international market. It is expected that the lighting market in the second half of the year and even the whole year will be unstoppable, more lighting companies will target market segments on the basis of the existing main business segments, take the “specialized and special new” high-quality development road, while constantly increasing scientific and technological innovation and market investment, and strive to achieve the annual goal.
03
Which lighting segments are expected to see new growth in 2023?
Yin Renquan: With the rapid development of LED lighting technology, the stability, service life, intelligence, display, light efficiency and other performance indicators of LED lighting products are maturing to meet the market demand. LED lighting products can not only meet the needs of general lighting, but according to the different application scenarios, derived a variety of application fields, the market scope continues to expand and extend. In the future, smart lighting, health lighting, plant lighting, animal husbandry lighting, Marine MH fishing lamps, automotive lighting, photovoltaic lighting, Marine LED fishing lights, medical and special lighting and other subsectors will usher in new growth.
04
In the era of stock market, industry competition is becoming more and more fierce. To this end, do you have any suggestions for the development of the enterprise?
Yin Renquan: When the winter comes, everyone is competing for “cold resistance”. Standing at this new starting point in 2023, how to win more customers and win a larger market has become a new topic in front of lighting companies. I believe that enterprises should adhere to “not lying flat, standing up, moving” in order to break out of the lighting market this year.
First, do not lie flat, and maintain confidence in the future market. Regardless of the economic situation, the lighting market demand still exists. And for the new trend of the market, we also make strategic planning with full fighting spirit.
Second, stand up and analyze the current situation of the industry. Only by mastering the overall wind direction can we master the future. The pre-action must be “stand up”. Only by standing up, can we use a higher perspective to understand the market, from rivals to the industry, to the marketing model, and then to the self-situation for a full-dimensional analysis, in order to truly grasp the overall wind.
Third, get moving and dare to go out for the broad market. To make good performance, the most important thing is to move and go out. Especially in the current epidemic policy liberalization, when the market is not obvious, strategic thinking is not clear, and business has entered the bottleneck, we must go out from our original comfort zone.
For enterprises, brands, products and services can affect consumers’ cognition of brand image value. Quanzhou Jinhong Photoelectric Technology Co., LTD., since its establishment, based on functional positioning, take the initiative to serve fishermen, and develop steadily in the Marine fishing lamp industry. Our sales are going up year by year. This is also the recognition of many customers for the high quality fishing lights and fishing lamp ballasts we produce.
Post time: Jun-22-2023