Global LED Lighting Industry
New Study On “Global LED Lighting Market Share, Supply, Analysis and Forecast to 2024” Added to Wise Guy Reports Database
Detailed Regional Analysis
The market for LED lighting is segmented into five regions namely, Europe, North America, Asia, Latin America and Middle East & Africa. Asia Pacific is anticipated to spearhead the global LED lighting market over the conjecture period. Asia Pacific’s market for LED Lighting is heavily influenced by three primary factors. Owing to the planned event of Tokyo Olympics in 2020, the demand for LED lighting is expected to witness a prominent rise in demand. Secondly, DLC V5.0 based lighting that will boost the demand for high-end lighting is anticipated to drive the market. And thirdly, cross-industry expansion is noted in the lighting manufacturers is bound to create new growth opportunities for the industry.
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LED lighting companies operating in North America are witnessing a rise in sales with revenue generated primarily from sales in the US. However, the cost of LED lighting in the region is anticipated to rise slightly owing to trade tensions between China and the US. Such trade tensions are expected to affect the cost of raw materials, thereby increasing the cost of the end-product.
European manufacturers are expected to gain significant business opportunities in the coming years owing to the increasing regional demand for commercial lighting such as troffers at the beginning of the forecast period.
Key Players
Topmost players in the market include MLS Co Ltd., Philips Lighting, Osram, Cree Inc., and Foshan Electrical & Light.
Market Segmentation
The LED lighting market is segmented by application and region. Based on application, the market for LED lighting is segmented into residential, office, retail/shop, hospitality, industry, outdoor, and architectural.
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