With the Accelerated Development of Night Consumption Market, the Flexible LED Strip Industry Has Broad Development Space

Flexible LED strip, also known as flexible neon tube, is the latest and most popular LED breakthrough product in recent years. Its appearance is to make up for the shortage of glass neon tube and optical fiber, and gradually replace them completely. The flexible LED strip adopts FPC as the assembly circuit board and chip LED for assembly, so that the product is only as thick as a coin and does not occupy space. FPC is a soft material that can be bent, folded and wound at will. It can be moved and expanded at will in three-dimensional space without breaking. It can be cut or extended at will without being affected. Flexible LED strip is suitable for irregular and narrow space, but also because of its arbitrary bending and winding, suitable for any combination of patterns in advertising decoration. In addition, its color is rich and it can be made into red, yellow, blue, green, white and so on according to customers’ requirements, widely used in building outline, steps, booth, bridge, hotel, KTV decoration lighting and other aspects. 

Common flexible LED strip has 5050, 3528 and other sizes. The 5050 LED light bar refers to a light bar with a size of 50mm×50mm LED chip, and the 3528 LED light bar refers to its chip size of 35mm×28mm. In 2020, the market share of 5050 and 3528 LED strips in the whole industry is 35.73% and 43.85% respectively, while other types occupy 20.42% of the market. 

Global Flexible LED Strip Industry Market Status Analysis and Prospect Forecast

The Asia-Pacific region is the largest revenue market in this industry, with a market share of 36.03% in 2015 and 38.49% in 2020, with an increasing trend year by year. In 2020, Europe and North America ranked second and third in the industry with 28.35% and 24.89% market share respectively. The market share of South America and Middle East and Africa is relatively low, accounting for only 4.67% and 3.60% respectively.  In addition, the flexible LED strip industry in China has promising development prospects and is expected to become the fastest-growing market in the industry. 

The market concentration of flexible LED strip industry is general, and the top 3 enterprises in the industry account for about 30% of the market. The top three companies are Philips from Netherlands, LEDVANCE from Germany and Opple from China. Philips is a technology company that provides healthcare, electronics, lighting and consumer products with a focus on improving the living level of people through innovation.  Constantly updated products and technologies, as well as expanding foreign markets, enable Philips to take a leading position in the field of migration. LEDVANCE specializes in lighting products including LEDs, halogen lamps, fluorescent lamps, specialty lamps and incandescent lamps and other lamp tubes.Opple is a leading integrated lighting manufacturer in China, headquartered in Shanghai with two manufacturing centers in Wujiang, Jiangsu province and Zhongshan, Guangdong Province. Opple has established a world-leading EMC and light power distribution laboratory with more than 800 patent applications. In addition, the Belt and Road Initiative has driven development of Opple throughout Asia and the Middle East. In 2020, the market revenue of these three companies was $74.11, $54.57 and $53.49 million respectively, accounting for 13.80%, 10.16% and 9.96% of the global market share, respectively. 

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According to our research, the global flexible LED strip industry market revenue was $391.91 million in 2015 and grew to $553.29 million in 2019. However, due to the impact of COVID-19, the total market revenue of the industry in 2020 decreased by 2.95% from 2019 to $536.95 million.  Based on this, we did a series of functional calculations and used scientific models to derive the data for the next five years. Finally, we predict that the global market for flexible LED strips will be worth $872.42 million by 2025. Meanwhile, the CAGR during 2021 to 2025 is projected at 10.20%. 

With the Accelerated Development of Night Consumption Market, the Flexible LED Strip Industry Has Broad Development Space

In recent years, a large number of developing regions have introduced a number of measures to promote Night Consumption and upgrade household consumption. Night economy, as one of modern urban economic forms, is becoming a new hot spot in urban development.  The development of the night economy not only promotes the consumption of food, drinks and entertainment, but also greatly promotes the development of the flexible LED light strip industry.  Flexible LED light strip has become an important tool for urban nightlife lighting and decoration, and the industry has broad development space. 

In addition, flexible LED strips are one of the important solutions for green lighting. It achieves high efficiency, energy saving, environmental protection, safety and stable performance through scientific and sustainable lighting design. These superior performance of the product can help save electricity, protect the environment, improve the quality of lighting, ultimately improve the living environment, improve the quality of life, create a safe, comfortable, economic and appropriate environment. Complying with the trend of "low carbon, environmental protection" can bring a lot of development opportunities to the industry.

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