Looking to expand your energy storage solutions into new international markets? At Coway, we understand the challenges that established energy storage companies face—whether it's dealing with tough domestic competition, navigating product saturation, or managing high inventories. Our deep knowledge of global market entry strategies, combined with years of experience supporting cutting-edge Chinese energy companies, means we're uniquely positioned to help you grow abroad. With our expertise, we can help you tap into promising markets like the U.S., U.K., and Germany, where demand is high, and local production is limited. Let's collaborate to drive your business forward globally.

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Powered by a hybrid solar inverter and battery pack, the system ensures uninterrupted power supply during outages by drawing energy stored from solar panels or the grid.

Additionally, it helps lower electricity expenses by shifting energy usage to off-peak hours when rates are lower, providing a more efficient and cost-effective way to manage your home's energy consumption.

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Case studies

Global LED Lighting Project -- Expanding into International Markets

Background and Challenge

The LED lighting industry in China has experienced rapid growth, with the domestic market reaching ¥527 billion in 2020, driven by a 15% annual growth rate. Despite this, increased domestic competition and shrinking profit margins led many companies to seek international expansion. The global market, particularly in sectors like municipal, industrial, and smart lighting, presented opportunities due to lower LED market penetration and growing demand.

In 2015, two leading Chinese LED manufacturers approached Coway to explore global market opportunities. These companies faced challenges such as identifying suitable markets, meeting international technical standards, and navigating complex local regulatory landscapes. Their main objective was to penetrate high-potential international markets and achieve sustainable growth.

Coway's Solution

Coway launched a strategic partnership with the LED manufacturers, creating a dedicated project team to spearhead international expansion efforts. The team began by conducting detailed market research to identify key sectors with strong demand for LED lighting, such as municipal street lighting and industrial applications.

Key Initiatives

• Tailored Product Development: Coway worked closely with its partners to design innovative LED lighting solutions, including AC direct drive technology, modular designs, and customizable lenses. These features gave the companies a competitive edge in overseas markets where such advancements were scarce.  

• Product Testing and Certification: To ensure compliance with local standards, Coway arranged third-party testing in accredited labs, obtaining certifications required for large-scale project participation.

• Demonstration Projects: Coway implemented demonstration projects in key regions, showcasing the superior energy efficiency and cost-effectiveness of its LED lighting solutions. Successful installations in municipal street lighting, industrial warehouses, and urban landscapes solidified market confidence in the products.

• Local Production and Assembly: In 2016, Coway established a local assembly plant to facilitate compliance with regional standards and regulations. This move enabled faster production, reduced costs, and improved market penetration through localized manufacturing.

Results and Impact

Widespread Adoption: Coway's LED solutions have been deployed across multiple sectors, including tunnel lighting, industrial warehouses, parks, and commercial buildings. The installations in high-traffic urban areas significantly enhanced the visibility of the brand. 

Market Leadership

Through strategic product development and market positioning, Coway's partners became recognized as leading providers of advanced LED lighting in global markets. Certification from local authorities bolstered the credibility of Coway's products.

Growth and Sustainability

By the end of the project, Coway's clients expanded their market share and diversified their product portfolios, successfully transitioning from street lighting into niche markets like smart lighting and landscape solutions.

Coway's global business unit played a critical role in guiding these companies through complex market entry challenges, providing expertise in market research, product development, and local compliance, ultimately positioning them for long-term success in international markets.

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What sets us apart is that Coway's team brings years of experience, cutting-edge technology in fields like renewable energy and advanced manufacturing, and a proven track record in global collaborations. We stand ready to offer you expert support with unique technical capabilities and a deep understanding of market dynamics. Let's work together to achieve your business goals!