In its second-half 2026 report on the global LED lighting market, TrendForce judges that the market remains in a near-term adjustment phase.
The factors weighing on the market are specific: sluggish macroeconomic recovery, ongoing geopolitical conflict and conservative corporate capital expenditure. Growth momentum is weak across the three core markets of Europe, North America and China. The report notes corporate caution is directly visible in fewer project initiations and tighter budgets, with decision cycles for engineering orders lengthening noticeably.
For export suppliers this means two things: patience — the cycle from enquiry to order for large projects will be longer than in the past two years; and product mix — focusing on replacement and compliance-driven demand (high-efficiency swaps, regulatory upgrades) is more stable than betting on new large projects. Adjustment phases are often when supplier ranks reshuffle; factories that control inventory and cash flow tend to gain share when the cycle turns.
Source: TrendForce / LEDinside (ledinside.com)