LED Lighting Market Outlook
A light-emitting diode (LED) light has become a powerful source of lighting in the past few years. It is a two-lead semiconductor lighting device made using a p-n junction. It has a special type of diode that enables the flow of current in the forward direction and stops the current in the reverse direction.
The global LED lighting market size reached US$ 68.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 121.2 Billion by 2027, exhibiting at a growth rate (CAGR) of 10% during 2022-2027.
LED lights do not contain any harmful elements, such as mercury, and provide more color variants and better brightness control than traditional lights. A well-designed LED lighting system offers various advantages over conventional lighting solutions, such as better efficiency, smaller size, longer-lasting, durability, versatility, and environment-friendly.
Request for a Free PDF sample report: https://www.imarcgroup.com/led-manufacturing-plant/requestsample
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
LED Lighting Market Trends:
The rising demand for highly energy-efficient lighting systems with low maintenance costs represents one of the key factors bolstering the market growth. LED lights offer an enhanced average life span and cost-effectiveness, which, in turn, is inflating overall product sales across the globe.
Moreover, the stringent regulatory policies regarding energy consumption are acting as another growth-inducing factor. For instance, governments of various nations are offering rebates and incentives for the replacement of conventional lamps with LED products. Apart from this, the rapidly expanding automotive industry and declining prices of LED products are creating a positive outlook for the market.
Buy This Report Now: https://www.imarcgroup.com/checkout?id=540&method=1
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The market is concentrated in nature with the presence of few manufacturers who are competing against one another in terms of prices and quality. Some of these players include:
- Nichia
- Osram
- Samsung Electronics
- Everlight Electronics
- LG Innotek
Key Market Segmentation:
The report has categorized the market based on application.
Breakup by Application:
- Retrofit
- Retail
- Hospitality
- Outdoor
- Offices
- Architectural
- Homes
- Industry
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=540&flag=C
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800
Facebook Conversations