The United States and Europe are the largest markets for my country's LED exports
In 2019, the US market is still the single largest export market for lighting products. In 2019, due to the impact of Sino-US trade friction, it fell by nearly 10%, so the North American market share fell by 3 percentage points and retreated to second place; Europe rose by 2.01 % Share overtakes North America and ranks first, with countries including Germany, Britain, France and the Netherlands consistently ranking among the top export markets.
LED exports fell sharply in the first quarter of 2020
Affected by the new global pneumonia, since February 2020, the export value of LED products has continued to decline. The data shows that China’s total exports of LED products in the first three months of 2020 were US$5.02 billion, of which the most significant decline was in March, which fell by 15.6%. The total export value was US$1.61 billion, accounting for 32.1% of the total export value. The overall decline trend is very obvious The cumulative proportion has dropped by 11.28%, and Chinese LED companies are facing huge operating pressure.
How should LED companies respond?
As the impact of global new coronary pneumonia continues to expand, and the United States continues to strengthen the enforcement of export controls and sanctions, Chinese LED companies face increasing risks in participating in global trade activities. Chinese LED companies should pay attention to the domestic market and strengthen online customers Develop capabilities to actively improve corporate compliance systems in response to US export controls and sanctions, and prevent and control related risks.
In this context, in order to help LED industry chain companies to quickly understand the current status of the industry, respond to the problem of product sales and market development under the epidemic, promote the sustainable development of China's LED industry, and at the same time strengthen the communication between LED industry manufacturers to promote the upstream and downstream of the industry chain Close cooperation, sponsored by China's high-tech industry portal OFweek Veken. The OFOF2020 China LED Online Forum and Exhibition hosted by OFweek Veken·Semiconductor Lighting will be held on June 30, 2020.
