Leaders of lighting industry predict the industry situation for 2024 (Ⅳ)

Leading companies in the lighting industry have more predictions and suggestions for the industry in 2024

Liu Baoliang, General Manager of Bull Group's Light Source Business Unit


2024 will accelerate brand concentration. Recently, I had the privilege of hearing a sharing from renowned brand marketing expert and Chairman of Beijing Zanbo Marketing Management Consulting Co., Ltd., Mr. Lu Changquan. The two points he mentioned are in line with the development trend of the lighting industry. How to seize this opportunity requires each enterprise to think deeply:

●Low economic growth → Industrial concentration → Industry reshuffle → Resource reset → Opportunities of the times.
●The more difficult it is, the more daring it is to grow and be good at it.

In the past few years, due to the impact of the epidemic, the economic downturn has led to a decrease in market demand, increasing pressure on business operations, and intensifying market competition. In this context, the advantage of large brand companies is significantly stronger than that of small companies. Large companies have sufficient funds and capabilities to continuously invest in brands, channels, products, and market promotion. As long as the direction is right, they will continuously seize the market share of small companies, and the stronger will be!

Huang Zhongming, Director/General Manager of Panasonic Electric Machinery (Beijing) Co., Ltd


The lighting environment in China will become more difficult in 2024. The export is sluggish, and the recovery of the key domestic demand real estate market is difficult.
The domestic lighting market will continue to rapidly evolve towards high-end and low-end polarization. The Chinese market will iterate on healthier, more comfortable, and smarter lighting.

As a small enterprise, Jinhui Lighting also faces pressure from sales, market share breakthrough, product performance and brand enhancement in such a large environment. This requires more financial support, greater efforts, and the cultivation and innovation of technical talents.


Post time: Apr-26-2024