Chinese LED lighting manufacturers intense price wars forced leading international manufacturers to adjust their policies, with large enterprises joining the low-price wars the lighting industry will be in an even more difficult situation.
There is still chance for LED product prices to drop to about the same range as in 2014, and accompanying technological advancements there is still 30% room for price declines.
It is forecasted that in the next 3~5 years, LED lights will replace traditional light sources and luminaire market that have been around for the last 10 years. In the short term, the market will see large scale product release, but eventually as more manufacturers expand, mass scale production capacity and competition has dragged down product prices. This has further intensified the LED market competition, with some unregulated manufacturers even disrupting market orders, causing it difficult to achieve equilibrium in the short term.