Flexible
LED strip, also known as flexible neon tube, is the latest and most popular LED
breakthrough product in recent years. Its appearance is to make up for the
shortage of glass neon tube and optical fiber, and gradually replace them completely.
The flexible LED strip adopts FPC as the assembly circuit board and chip LED
for assembly, so that the product is only as thick as a coin and does not
occupy space. FPC is a soft material that can be bent, folded and wound at
will. It can be moved and expanded at will in three-dimensional space without
breaking. It can be cut or extended at will without being affected. Flexible
LED strip is suitable for irregular and narrow space, but also because of its
arbitrary bending and winding, suitable for any combination of patterns in
advertising decoration. In addition, its color is rich and it can be made into
red, yellow, blue, green, white and so on according to customers’ requirements,
widely used in building outline, steps, booth, bridge, hotel, KTV decoration
lighting and other aspects.
Common
flexible LED strip has 5050, 3528 and other sizes. The 5050 LED light bar
refers to a light bar with a size of 50mm×50mm LED chip, and the 3528 LED light
bar refers to its chip size of 35mm×28mm. In 2020, the market share of 5050 and
3528 LED strips in the whole industry is 35.73% and 43.85% respectively, while
other types occupy 20.42% of the market.
The
Asia-Pacific region is the largest revenue market in this industry, with a market
share of 36.03% in 2015 and 38.49% in 2020, with an increasing trend year by
year. In 2020, Europe and North America ranked second and third in the industry
with 28.35% and 24.89% market share respectively. The market share of South
America and Middle East and Africa is relatively low, accounting for only 4.67%
and 3.60% respectively. In addition, the
flexible LED strip industry in China has promising development prospects and is
expected to become the fastest-growing market in the industry.
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According
to our research, the global flexible LED strip industry market revenue was $391.91
million in 2015 and grew to $553.29 million in 2019. However, due to the impact
of COVID-19, the total market revenue of the industry in 2020 decreased by
2.95% from 2019 to $536.95 million.
Based on this, we did a series of functional calculations and used
scientific models to derive the data for the next five years. Finally, we predict
that the global market for flexible LED strips will be worth $872.42 million by
2025. Meanwhile, the CAGR during 2021 to 2025 is projected at 10.20%.
With the Accelerated Development
of Night Consumption Market, the Flexible LED Strip Industry Has Broad Development
Space
In
recent years, a large number of developing regions have introduced a number of
measures to promote Night Consumption and upgrade household
consumption. Night economy, as one of modern urban economic forms, is becoming
a new hot spot in urban development. The
development of the night economy not only promotes the consumption of food,
drinks and entertainment, but also greatly promotes the development of the
flexible LED light strip industry.
Flexible LED light strip has become an important tool for urban
nightlife lighting and decoration, and the industry has broad development
space.
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