Exclusive Interview with Zhuosheng Lighting CEO Zhuang Junjie | Year-End Review (Part 4)

For the lighting industry, 2024 was a year marked by significant challenges, transformation, and innovation.

In 2024, the lighting industry resembled a magnificent and volatile canvas, leaving deep impressions in areas such as technological innovation, market dynamics, and application expansion. This year, smart lighting technology became increasingly mature, aiming to open up new light and shadow experiences for consumers; demand for healthy lighting and lighting suitable for the elderly and children grew rapidly; green lighting, sustainable development, and products compliant with ESG standards gradually became mainstream market demands; one-stop shopping and integrated renovation are becoming the new normal in the consumer market; cross-industry integration is becoming a trend; technologies such as "full-spectrum eye protection" and parking lot lighting systems combining AI and sensor-driven adaptive scenarios have emerged... At the same time, as senior practitioners in the lighting industry, we all deeply feel the fierce market competition and industry involution from our unique perspectives, witnessing the industry's ups and downs.

Looking back on this year, there are many reflections. So, what did the lighting industry look like in 2024 through the eyes of lighting professionals? What severe challenges were encountered, and what remarkable new changes emerged? Looking ahead to 2025, which is approaching with steady strides, what development trends and situations will the lighting industry present? How should lighting companies respond sensitively, flexibly adjust their strategies, and adapt to market changes and numerous challenges? At the beginning of the new year, China Light Network specially launches the "Year-End Review" series, inviting lighting professionals who have worked in the industry for many years to look back on the stormy journey of the lighting industry, summarize the past, and plan for the future.

Answer: Despite market pressures, technological innovation remains the core driver of the lighting industry. AI-enabled smart lighting and more efficient LED chips are driving product upgrades. The recovery of the cultural tourism economy is boosting demand for dynamic lighting and customization, while smart cities and rural revitalization are opening up new spaces for the industry. In terms of design, lighting is shifting from functionality to emotional and scenario-based experiences. Global energy conservation and emission reduction policies, especially China's "dual carbon" goals, are pushing companies to achieve breakthroughs in technological innovation and environmental protection.

Answer:In 2024, the lighting industry faces multiple challenges. On the demand side, the market is sluggish, with a significant decline in orders for traditional lighting and engineering projects; the downturn in real estate and the萎靡 export market have exacerbated the difficulties. On the cost side, fluctuations in raw material prices and rising logistics costs have increased pressure on corporate cost control. Regarding technological upgrades, customer demand for intelligence and personalization is increasing, but the high R&D investment and long return cycle for cutting-edge technologies place immense financial and technical reserve pressures on enterprises.

To address these challenges, companies can respond through technological innovation, market segmentation, and digital empowerment. By focusing on efficient LED, Smart lighting, and Energy saving technologies, they can promote differentiated products, explore niche markets such as smart cities and cultural tourism lighting, and expand into potential markets like Southeast Asia and the Middle East to mitigate the risk of reliance on a single market. Meanwhile, leveraging AI, IoT, and big data can improve operational efficiency, while localized procurement and supply chain optimization can reduce external uncertainties, jointly enhancing supply chain resilience to ensure sustainable corporate development.

Answer: In 2025, the lighting industry may find new opportunities amidst differentiation. On one hand, competition in the low value-added market will intensify, with price wars and elimination rounds driving further market consolidation; on the other hand, high-end segments featuring smart lighting, green initiatives, and customization still hold significant growth potential, especially driven by smart city construction, green building promotion, and consumption upgrades, where innovative enterprises are poised to stand out.

Building a more stable industry ecosystem requires strengthening collaboration and standardization, promoting technical cooperation, resource sharing, and industry alliances to reduce R&D costs and accelerate the standardization of product interoperability, thereby enhancing overall industry efficiency. Meanwhile, companies must focus on sustainable development, fully implement energy saving and emission reduction targets, promote circular economy and green supply chain management, and meet environmental protection policies and consumer demands. Additionally, improving risk resilience by leveraging digital technologies to optimize production and supply chain management enhances a company's ability to adapt to external uncertainties.

The key to corporate strategic adjustment lies in "Focus and Breakthrough". First, focus on core competencies, optimize business structure, and concentrate resources on developing smart lighting, AI-enabled products, and green lighting technologies. Second, break through market boundaries, explore the potential of emerging markets, and expand into high value-added application scenarios such as cultural tourism, commercial spaces, and healthcare. Finally, create brand differentiation through innovative design, intelligent functions, and high-quality services, enhancing customer experience and brand competitiveness.

Expert Introduction

Zhuang Junjie (Jack Chong)