The lighting industry surveyed expects that the home lighting market will remain buoyant in the foreseeable future. Among them, consumers need to replace old lighting products, which is expected to drive the demand for indoor home lighting products. At the same time, as consumers' awareness of environmental protection is increasing, LED products are expected to be very popular, and smart technology is expected to continue to promote the development of the lighting industry. The Hong Kong Trade Development Council conducted a questionnaire survey during the Hong Kong International Autumn Lighting Fair 2017 and the Hong Kong International Outdoor and Technology Lighting Expo 2017. The results show that the prospects for the lighting market in 2018 are still optimistic, with the Asian market being regarded as the most growth potential overseas. Lighting market, including Japan, Mainland China and ASEAN countries. The lighting industry surveyed expects that the home lighting market will remain buoyant in the foreseeable future. Among them, consumers need to replace old lighting products, which is expected to drive the demand for indoor home lighting products. At the same time, as consumers' awareness of environmental protection is increasing, LED products are expected to be very popular, and smart technology is expected to continue to promote the development of the lighting industry. The Hong Kong International Autumn Lighting Fair 2017 and the Hong Kong International Outdoor and Technology Lighting Expo 2017 have been held on October 27-30 and October 26-29 respectively. The HKTDC Research Department interviewed 386 buyers and 250 exhibitors on the spot to learn about the industry's views on the lighting market and product trends for the next few years. Lighting market growth is stable The respondents are optimistic about the prospects of the lighting market in 2018. 95% of the respondents and 97% of the exhibitors expected to increase or maintain their sales in the coming year. Among them, exhibitors are more confident about the market prospects, 59% of respondents expect to record sales growth, only slightly lower than 62% of the spring lighting exhibition in April 2017. In contrast, 40% of respondents expect sales to rise, while buyers and exhibitors who are pessimistic about the sales prospects for the coming year are only 5% and 3% respectively. In terms of overseas market growth prospects, Japan is expected to be the best-preferred traditional market in the coming year, with 86% of local lighting companies surveyed as “ideal†or “very idealâ€. Taiwan has not given much to it. The growth prospects have been rated as "ideal" or "very desirable" by 82% of respondents. In contrast, the Korean market appears to be inferior, with only slightly more than half (53%) of respondents expressing confidence in their short-term growth prospects. In emerging markets, the prospects for mainland China and ASEAN countries are the most promising, with 93% and 85% of respondents respectively expressing confidence in local growth prospects. Home lighting has 29% of respondents believe that home lighting sales will remain strong in 2018, and is expected to become the highest growth category of lighting products, the ratio is significantly higher than the 18% of the spring lighting exhibition in April 2017; LED and environmental protection Lighting followed closely, with 24% of respondents arguing the greatest growth potential. In addition, the proportion of respondents who chose commercial lighting and outdoor lighting also increased significantly. The former rose from 4% in April 2017 to 16%, while the latter rose from 3% to 12%. In the April survey, 38% of respondents expected lighting accessories and parts to be the highest-growth category of lighting products, but the boom seems to have cooled. In this survey, only 7% of respondents expected the lighting product category to record growth. High demand for indoor home lighting replacement Consumers need to replace old lighting products, which have always been an important factor driving the demand for LED products. Perhaps because of this, the above mentioned lighting industry is most optimistic about the sales of home lighting products. More than half (55%) of the respondents believe that in the next two years, indoor lighting will become the biggest benefit category in this demand for replacement lamps, which is slightly higher than the 48% of the spring lighting exhibition in April 2017. Other product categories that may benefit include indoor office and commercial lighting (30%), outdoor lighting (except for signage and advertising fixtures, 21%) and indoor industrial lighting (21%), while automotive and transportation lighting benefit from replacement product demand The possibility is the lowest. Environmental awareness raises demand for LED lighting In recent years, consumers' awareness of environmental protection has increased. Major markets such as the United States, the European Union, China and Australia have completely banned the sale of incandescent light bulbs with poor environmental performance. The majority of respondents (84%) believe that the ban on incandescent bulbs will drive sales of other lighting products. Among these respondents, 67% believe that the sales of LED products can benefit, and the rest of the respondents believe that integrated electronic compact fluorescent lamps (æ‚ lamps) benefit the most. Intelligent Lighting At present, many industries are committed to the introduction of smart technology, and the lighting industry is no exception. The vast majority of respondents (93%) believe that smart technology will promote the development of the lighting industry in the next two years, which is slightly higher than the 92% of the spring lighting exhibition in April 2017. Of these respondents, slightly more than half (53%) believe that home lighting systems that communicate with or be controlled by smartphones/tablets have the greatest potential, up from 45% in April. In addition, 40% of respondents believe that the home/industrial/commercial intelligent lighting system, which is mainly aimed at power saving and energy saving, has the greatest development potential. Hong Kong Suppliers' Performance Excellence The survey results show that buyers are more satisfied with the performance of Hong Kong lighting suppliers than they were earlier this year. During the survey, buyers were asked to rate satisfaction in nine key areas. The score is based on a 5-point scale, with 1 being very unsatisfactory and 5 being very satisfied. Hong Kong suppliers rated the highest scores in compliance with safety regulations or standards and services, which was 4.06 points, which was 3.88 points and 3.79 points higher than the April 2017 Spring Lighting Fair. In addition, Hong Kong suppliers have a good rating in compliance with environmental regulations or guidelines (4.05) and product quality (4.03). Survey of respondents A total of 386 buyers were interviewed, 26% of whom were in Hong Kong and the rest from overseas markets. The main sales/export markets of the respondents were Mainland China (37%), Asia outside China (28%), Western Europe (17%) and North America (17%). For exhibitors, the number of respondents was 250, of which 28% were doing business in Hong Kong and the rest were from overseas markets. The main sales/export markets of the exhibitors surveyed were North America (48%), Western Europe (45%), Asia (44%) outside Mainland China and Mainland China (40%).
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