The Hong Kong Trade Development Council (HKTDC) said on Monday that 95 percent of respondents interviewed at the Autumn Lighting Fair, and the Outdoor and Tech Light Expo expected a better or stable market prospect in 2018.
Organized by the HKTDC, the 19th Hong Kong International Lighting Fair (Autumn Edition), the second Hong Kong International Outdoor and Tech Light Expo and the 12th Eco Expo Asia, which were held in Hong Kong last week, altogether attracted close to 69,000 buyers from 151 countries and regions, up 7 percent from last year.
The HKTDC commissioned independent on-site surveys during the Autumn Lighting Fair and Outdoor and Tech Light Expo. Among the 636 exhibitors and buyers interviewed, about 95 percent of the respondents expected a better or stable market prospect in 2018, with the overall sales of products expected to increase by 16 percent on average.
On the global outlook, the survey found that respondents were most optimistic towards the Chinese mainland, followed by Japan and ASEAN markets. Among emerging markets, the industry is most interested in expanding business in the Chinese mainland, ASEAN and the Middle East.
On products, respondents considered household lighting to have the greatest growth potential in 2018, followed by LED and green lighting products and commercial lighting.
HKTDC Deputy Executive Director Benjamin Chau said that based on the buyer and business-matching figures, on-site survey results and Hong Kong's latest export performance, the outlook for the lighting industry looks bright next year.
Chau noted that suppliers have been investing more on developing innovative products to meet growing demand for smart products around the world.
"According to an on-site survey, 93 percent of the interviewees believed that the development toward smart cities and smart homes will facilitate the advancement of the lighting industry in the coming two years," he added.
