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Europe’s 500 is an organization and networking platform for European private growth companies.

Each year Europe’s 500, together with its partner IESE Business School, publishes the list of the European high growth private companies, and organizes the “European Growth Summit” for European growth entrepreneurs.

We celebrate these entrepreneurs and their innovative achievements at our annual Europe 500 awards ceremony held at the European Parliament in Brussel. As Europe’s most successful listing of high growth private companies, Europe’s 500 has become the standard for recognition for entrepreneurial success.

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China and Its LED Industry

China's LED industry

LED or Light-Emitting Diode is a two-lead semiconductor light source. Recent developments in LED allow it to be used for many purposes. Using LED has shown great advantages over using most incandescent light sources. Lower energy consumption and longer lifetime of the product are some these advantages. Over the years, China has showed a significant advancement in the technology and production of LED which proved similar to those in high tech industries.

As of 2015, China has the largest LED industry in the world with about four thousand (4000) companies manufacturing LED in the country. Thirty percent of the global LED market is comprised of the Chinese LED market, which makes China ahead of South Korea, Germany, Japan, Taiwan, and the United States of America. According to reports from professionals, there will be a compound annual growth rate of over forty percent for the Chinese LED market.

One of the driving forces behind the booming industry in the country is the government itself. To promote its LED industry, the Chinese government offers subsidies, tax benefits, and lower land cost for LED facilities – aiming to convert thirty percent (30%) of the domestic lighting market to LED. To emphasize and enhance the volume of the usage of energy efficient LED lighting, the government of China started phasing out the usage of incandescent light bulbs, following the footsteps of USA and Japan. LEDs are usually utilized in their street lightings, big hotels, shopping malls, and office buildings. The state-run National Development and Reform Commission (NDRC) predicted that LED lighting will be worth almost thirty billion in dollars to the country’s economy. By this time, the commission believes, at least twenty percent of the lighting market will be taken by LED lights.

Despite the initial success of the LED industry in the country, recent events beg the question: What happens now?

There have been problems that LED manufacturers had to face in the most recent times. Price wars have been rampant among companies that sell LED. Small-scale manufacturers have been hit the hardest by these price wars, almost always having to resort to foreclosure and filing for bankruptcy. Several analysts have confirmed that the Chinese LED industry is in deep waters and that several manufacturers will not survive in the coming years. One factor for the downfall of the industry is the quality VS quantity aspect of the production of LED. Some expert say that quality was sacrificed for rapid mass production. A testament to this is the recall of not just products under the local brand but those from major brands as well. Many large LED manufacturers faced product recall this year, including IKEA and Phillips, which had to recall their products due to fire hazards. Analysts predict that future trends in the industry will swing towards laser based lighting especially in holiday laser lights.

Although Chinese LED lights’ domestic demand increases by the minute, many developed countries like the United States of America –  still doubt China-manufactured LED lights – and even believe that Chinese products are not good quality products. Analysts claim that Chinese manufacturers still utilize outdated machinery and equipment – ultimately resulting to low quality LED products. Despite its questionable quality, the Chinese LED industry remains competitive in the global market.

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