Since the beginning of 2020, due to the continuous impact of the global new crown virus pneumonia epidemic, many manufacturers have restricted their production and operation, and their product supply has decreased to varying degrees. Recently, downstream LED lighting companies have been affected by different factors such as metals, commodities, freight, logistics and unfavorable exchange rates. The production raw materials and production costs have increased in varying degrees.

According to foreign media reports, since December, five LED lighting-related companies in the US market have announced product price increases, including Cooper Lighting, Valmont, Lutron, MaxLite and TCP.

1. Outdoor lighting brand company Valmont (Valmont) has issued an 8% price increase notice, which will be implemented on January 4, 2021.

2. Intelligent lighting control system brand Lutron (Lutron) also announced that some products will increase prices on January 15, 2021. Among them, the prices of Caseta smart products, wallbox dimmers, sensors, etc. are increased by an average of 2.4%; the prices of ballasts are increased by an average of 5%; and the prices of home lighting control products and sunshade products are not increased.

3. Cooper Lighting announced an 8% increase in product prices, effective on February 12, 2021.

4. Commercial building and residential lighting manufacturer MaxLite announced that it will begin to increase product prices by an average of 8% in early February 2021.

5. TCP Qiangling Lighting has also announced a 10% price increase.

If the economy begins to show signs of recovery and growth, product prices will rise naturally when supply exceeds demand. Next, perhaps more manufacturers will make a decision to increase prices.