Accordingtothereport, "2021GlobalLightingLEDandLEDLightingMarketOutlook-2H21," publishedbyTrendForce, theLEDlightingmarketsizeinChinawillsurgeby8.9% i $ 5.75billionin2021mainlybecauseofvariousgovernmentsupportpoliciesandinvestmentdividendsderivedfrominfrastructureconstruction.Recently, theChinesegovernmentmentionedthat-inits14thFive-YearPlan-themechanismpromotingtheuseofenergy-efficientlightingproductsmustbeimproved.SuchannouncementwillfurtherboostthepenetrationofLEDlightinginChina, whichisexpectedtoreach75% in2021.Inthefuture, theChineselightingmarketwillturntofocus onproductsegmentationandspecializationaswellassmartsystemestablishment.
Suchapromisingmarkethasnodoubtgarneredmultinationallightingcompanies'attentionandinterest, gan gynnwysGECurrent, aDaintreecompany (“GECurrent” o hyn allan).
? TheNorthAmericanbrandGELightingneedsnointroduction.In2015, GE, usingitsownlighting, digidol, andenergymanagementtechnologies, foundedCurrent, PoweredbyGE, whichisaseparatecompanyfromGELighting.In2016, duetothestrategicadjustmentdecisionmadebyGELighting'sexecutives, GELightingwithdrewitslightingbusinessfromAsianmarketsincludingChina.Twoyearslater, GEGroupsolditssubsidiaryCurrenttoAmericanIndustrialPartners, aNewYork-basedprivateequityfirm.Today, CurrenthasagainreturnedtoChina, butwhy Hefyd, towincustomers' ymddiriedaeth , howwillCurrentplanitsmarketstrategiesandwhatareitsexpectationsforthisgiganticAsianmarket?
Tofindtheanswers, TrendForce'soptoelectronicresearchdivisionLEDinsideinterviewedMr.JackyShen, SalesGeneralManagerintheAsia PacificofGECurrent, lleMr.Shenans Answerthesaidquestionsonebyone.
StartingOvertoProvideBetterServicesinChineseMarkets
Asatypicaleconomywhereproductionandconsumptioncoexist, Chinesemarketsarehighlycomplexanddiverse.Regardingproduction, Chinahasbecometheworld'sfactoryoflightingproducts.AsthedatacompiledbyTrendForceindicate, morethan70% oflightingproductsarenowmadeinChina; thecountry' ssupplychainadvantageisfurtherhighlightedaftertheCOVID-19outbreak.Additionally, thereareavarietyofproductsinChina, wherevariousmanufacturerspromotedifferentiatedproductstodistinguishthemselvesfromothercompetitors.Regardingconsumption, Chineseconsumersarehavinggreaterpurchasingpowerwiththeeconomicriseoftheircountry, hencethedemandforbetterlightingproductsinboththeB2BandB2Cmarkets.
“The2016withdrawalofGELightingfromChina, whichisahighlypromisingmarket, wasnotadefeat.Instead, thewithdrawaldecisionwasmadetoadjustgroup-levelstrategiesbasedoninternalproductintegration,” meddaiShen.Infact, GEonlypulleditsbusinessoutofthechecinthecinthechechechechechecheintiolciscedicedi,
Atthesametime, othermultinationallightinggiantsalsoadjustedandtransformedtheirbusinessmodelsbecauseofthepressurearisingfromtheirLEDbusinesstransformation.
