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The global LED Lighting market is estimated to account for US$ 175,400.3 million by 2027
LED Lighting Market, By Product Type (LED Bulbs, Bare LED Tubes, LED Fixtures, LED Downlights and Others), By Services (Installation Services, Consulting Services, and Maintenance & Support Services), By End User (Residential, Commercial, Industrial), By Application (Outdoor, Indoor, Backlighting, Automotive, and Others) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
An LED light is an electrical light that produces light by the use of a light-emitting diode or LED bulbs. Compared to other lighting equipment, LED lights are extremely energy-efficient and have almost reached the replacement of incandescent bulbs as the main source of illumination for many industries. They are available in different wattages to provide enough brightness for any commercial or residential area. The best thing about these lights is that they are available in different colors and designs so that they can be installed in any area of home or office. These lights are highly durable and long-lasting. The most important advantage of LED lighting is that the heat produced by its bulbs is very low and does not make any noise. LED lights produce more light per watt than any other form of the light-emitting diode; this feature enables users to place them anywhere in a room but without making them over-bright.
Major players operating in the global LED lighting market include: Sharp Corporation, Samsung, Zumtobel Group AG, Dialight plc, Virtual Extension, Cooper Industries, Inc., Cree, Inc., OSRAM Licht AG, General Electric Company, and Phillips Lighting Holding B.V.
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Increasing urbanization in the developing nations in the world is the main factor that is enhancing the growth of the global LED lighting market. For instance, according to the Chinese census, as of June 2020, the People’s Republic of China had around 687 cities. Moreover, increasing product launches by key market players and several advancements in house lighting systems are estimated to increase the demand in the global LED lighting market.
Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:
North America (United States, Canada)
Asia Pacific ( China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
During the COVID-19 pandemic, the stay-at-home orders made every individual in this world spend more time at home, and hence the inclination towards making the home more comfortable and non-monotonous, the sale of decorative items such as LED lights increased, and hence the key market players also announced the launch of several new products, along with new market strategies. For instance, in July 2020, Savant Systems Inc. acquired GE Lighting from GE and made GE lighting a Savant company brand. These factors had a positive effect on the global LED lighting market.
Some of the important questions answered in this report include:
What are the top five LED Lighting Market players?
What will the LED Lighting Market look like in the following years?
Which product and application will dominate the LED Lighting Market?
What are the LED Lighting Market’s drivers and restraints?
Which regional market will represent the highest growth?
What will be the CAGR and market size of the LED Lighting Market over the forecast period?
What is the present market size, what will it be in 2029, and what will be the growth rate?
What are the constraints to market growth?
What market opportunities and risks do the key companies face?
Who are the main competitors, and what is their strategic approach?
What are the market’s entry challenges for new players?
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Detailed TOC of LED Lighting Market Forecast Report:
1.1 Product Overview and Scope of LED Lighting Market
1.4 Global Market, Region Wise (2017-2022)
1.5 Global Market Size of LED Lighting Market (2017-2029)
2 Global LED Lighting Market Landscape by Player
2.1 Global LED Lighting Market Sales and Share by Player (2017-2022)
2.2 Global Revenue and Market Share by Player (2017-2022)
2.3 Global Average Price by Player (2017-2022)
2.4 Global Gross Margin by Player (2017-2022)
2.5 Manufacturing Base Distribution, Sales Area and Product Type by Player
2.6 Market Competitive Situation and Trends
3 LED Lighting Market Upstream and Downstream Analysis
3.2 Key Raw Materials Suppliers and Price Analysis
3.3 Key Raw Materials Supply and Demand Analysis
3.5 Market Concentration Rate of Raw Materials
3.7 Value Chain Status Under COVID-19
Market Scale and Segment Analysis:
Global LED Lighting Market, By Product Type:
Global LED Lighting Market, By Services:
Global LED Lighting Market, End User:
Global LED Lighting Market, By Application:
Global Strobe and Beacons Market, By Region:
Toshiba Lighting and Technology Corporation
Eaton Corporation (Cooper Industries PLC)
The size of the global LED lighting market is projected to be assessed at US$ 92.40 billion by 2022 at a CAGR of around 13.66%, owing to increasing market expansion and product launches by key market players. For instance, in March 2020, Panasonic life Solutions expanded its market and launched its first store in Hyderabad, India.
North America is expected to hold a major share of the global LED lighting market, owing to the increasing urbanization and urban settlements in the region. For instance, according to the U.S. Census Bureau around 80% of the U.S. population are settled in urban areas of the nation.
Asia Pacific is estimated to witness significant growth in the global LED lighting market, owing to the increasing expansion of urbanization in the region. For instance, according to NRIOL, there are around 4000 cities and towns in India, and around 300 cities consist of population over 1,00,000.
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The post The Global LED Lighting Market Continues To Grow Owing To the Increasing Expansion of Urbanization in the World, Competitive Analysis – OSRAM Licht AG, General Electric Company, and Phillips Lighting Holding B.V. appeared first on Gatorledger.
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