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The International Monetary Fund (IMF) has lowered its global economic growth prospects. The IMF expects the global economy to grow by 3.6 this year, slightly lower than the agency's expected value of 3.7 in January, but higher than last year's growth rate of 3. The International Monetary Fund (IMF) has lowered its global economic growth prospects. The IMF expects the global economy to grow by 3.6 this year, slightly lower than the agency's expected value of 3.7 in January, but higher than last year's growth rate of 3.
As far as the region is concerned, the IMF believes that the market recovery in the United States, Germany and the United Kingdom has improved. It is expected that the US economy is expected to grow by 2.8 this year and maintain the expectation that the Chinese economy will grow by 7.5 this year, while the Japanese economy will grow in 2014. Down to 1.4.
Economic growth refers to the continuous increase of the production of physical goods and services in a country or region. It means the expansion of economic scale and production capacity, which represents the growth of the economic strength of a country or region. The above areas are important markets for the development of LED lighting. The economic recovery or weakness is also affecting the scale of the LED lighting market.
Currently, the main market for the LED lighting industry is in North America, Europe and Asia, and Asia is dominated by China and Japan.
It is understood that the global LED lighting penetration rate from 22 in 2012 to 26 in 2013, is expected to reach 32.7 in 2014.
In terms of the North American market, as of the end of 2013, more than 600 cities in the United States have or are planning to install LED street lights. In addition, most provinces and cities in Canada are actively pursuing LED street light replacement plans or reloading incentive plans.
In addition, European LED street lighting is fully popular. European LED street lamps are less sensitive to price than other regions, but the quality requirements are quite strict.
In Japan, the government will increase the tax source and reduce the issuance of public debt to achieve the goal of reducing the deficit, and reduce the current fiscal deficit of about 50 trillion yen by half. The longer-term goal is related lighting engineering and infrastructure construction of the 2020 Olympic Games. It has been seen that the relevant construction industry has officially started construction. It is planned to introduce LED lighting and OLED lighting to attract international attention. In addition, the signing of the International Mercury Convention will also bring new business opportunities for LED lighting.
The LED lighting market in China is not too much. The LED lighting market is growing rapidly due to factors such as falling product prices, continuous policy policies and increasing awareness of energy conservation.
The LED lighting market is an important opportunity that any country must seize because it is a revolution in light and represents a better life. The introduction of LED bulbs under $10 has basically reached the sweet spot that people accept, so it is expected that the LED lighting penetration rate will continue to rise.