New Study Report “General LED Lighting Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025” Added on Wiseguyreports.com.
Introduction/Market Overview:
Global LED Lighting Market to Make Notable Progress over the Forecast Period
Light-emitting diode or LED is a semiconductor device that produces light when current flows through it. LED products are about 90% more energy-efficient when compared to incandescent or halogen lights. They offer better lighting and have a longer lifespan. Therefore, there has been a significant increase in the demand for LED lights in the residential, commercial, and industrial sectors. As per reports, the Global LED lighting market is expected to surpass US$ 100 billion by the end of 2024.
With the revision of energy policies and manufacturers focusing on developing economical and energy-saving products, demand is increasing briskly. These lights also emit less heat and are brighter. Modernization and better development of infrastructure are also boosting demand for LED lighting in many countries. They are more reliable and suitable for indoor as well as outdoor settings.
With technological advancements and shift from traditional to green lighting, the demand for LED lighting is on the rise. Governments of some countries are also offering rebates on the replacement of incandescent and other forms of traditional lights with LED products. LEDs are now a popular choice for desk lamps, flashlights, streetlamps, spotlights, and for big screens in stadiums. The market is expected to reach US$ 105.66 billion by 2025.
Important Key players Analysis: Cree, Nichia, OSRAM Opto Semiconductors, Seoul Semiconductor, Dialight and more.
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Segmentation:
The Global LED Lighting market is divided by design, application, and distribution channel.
Based on type/design, the market is divided into lamps and luminaires. The lamps section is further segmented into A-type lamps, T-type lamps, and others. The luminaires section is split into streetlights, downlights, troffers, and others. The demand for LED A-type lamps is increasing owing to low product prices and government subsidy programs.
Based on application, indoor and outdoor are the market segments. The former is further divided into residential, commercial, industrial, and government organizations. The outdoor segment is divided into highways and roadways, architectural, and public places. The residential sub-segment is expected to contribute the largest revenue to this segment.
Based on distribution channel, the LED lights market is segmented into direct sales and wholesale.
Regional Analysis:
The report considers five important regions for analyzing the Global LED Lighting market. The regions are North America (the United States, Canada and Mexico), Europe (the UK, Spain, Italy, France, Germany, Russia, and the rest of the region), Asia Pacific (India, China, Indonesia, Australia, Japan, Taiwan, South Korea, and the rest of the region), Central and South America (Argentina, Chile, Columbia, and Brazil), and the Middle East and Africa (the UAE, Turkey, Saudi Arabia, and South Africa).
The Asia-Pacific region held the largest market share in 2018 and is projected to stay on top. Japan, China, and Taiwan are the main countries contributing to growth. The Global LED Lighting market is also witnessing a boom in North America and Europe, thanks to government support and increased use of energy-efficient and ultra-modern lights in many industries.
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Industry News:
In India, the market is projected to grow to US$ 3,552.71 million in 2022 from US$ 920.52 million in 2016. Growing demand for energy-efficient options and an increasing number of government initiatives in the country are expected to boost sales.
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