According to a research report, LED outdoor lighting installed in China in 2014 had an estimated total market value of RMB14.7 billion ($2.39 billion), increasing YoY by 22%. There were about 2 million LED outdoor lights, mainly LED streetlights and LED tunnel lamps, installed around China in 2014, increasing YoY by 20%.
Despite growth in installation volume and value of LED outdoor lights, average prices for LED streetlights decreased from about RMB12/W in 2013 to below RMB10/W in 2014. Due to steady decreases in component cost and increasing competition, LED streetlight prices will further down in 2015.
As of the end of 2014, LED streetlights accounted for about 20% of all streetlights in China. Of LED streetlights produced in China in 2014, an estimated 50% were shipped in the domestic market and the remaining 50% exported.