MEAN WELL Ranks No. 2 in LED Power Supplies Market

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According to the well-known research institution IHS report” The world market for power in LED lighting “published in Mar of 2017, LED luminaires market will grow at a CAGR of 33.8% from 2016 to 2021, and the revenues of LED power supplies are projected to reach $13.1 billion in 2021.
Within the LED power supply manufacturers, MEAN WELL listed after the traditional lighting giant- Philips Advance and is estimated to have been the second leading supplier of LED power supplies, with a 6.6% market share. The reporter also mentioned that MEAN WELL is particularly strong in off-the-shelf solutions for medium-and high-power LED lighting applications and has fast growing.
However, LED power supplies are experiencing pricing pressure. MEAN WELL will continue to adjust the marketing strategy to respond the increasing competitions. Under the supports and efforts of distributors and employees, MEAN WELL has confidence to stand firmly as the leading position in standard switching power supply market and keep growing together with our partners.
The ranking table is shown as below: