LED Lighting Market Overview
A light-emitting diode (LED) is a semiconductor device that emits incoherent narrow-spectrum light when a p-n junction is forward electrically biased.
LEDs are a very efficient form of energy production and have already come down in cost far enough.
LEDs are an extremely efficient form of lighting and have an extremely long life span.
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LED lighting Market Drivers
The market for LED lighting is on a clear transition path from conventional lighting technologies to LED.
Some of the advantages of LED lights over traditional light sources are long-life, energy-efficient, ecologically friendly, durable, zero UV emission, design flexibility, low voltage, and so on.
The accelerated rate of LED light usage in households and businesses.
Increasing demand for outdoor applications along with powerful energy efficiency.
The increasing application of LED in the entire residential house.
Implementation of the EU Green Paper can lead to new opportunities for the European LED market in the near future.
LED lighting Industry Dynamics
The Global LED lighting market is majorly influenced by three factors such as macroeconomic situations, energy efficiency regulations across the world, and government actions limiting specific energy sources.
Macroeconomic circumstances include new constructions and consequently the number of new lighting installations.
Regulations across the globe have become more stringent, fueling the penetration of more energy-efficient light sources.
The world is in ongoing financial trouble, and Europe’s debt crisis had a negative impact on global and regional economic growth- both actual and projected. This has also adversely affected the lighting market.
Energy-efficient regulations and greater energy awareness are the primary driving factors for the growth of the LED lighting market.
Recently, China has banned incandescent bulbs. This is expected to boost the surge of low-energy light sources such as LEDs.
LED prices are decreasing aggressively in recent years will boost the market for LED lighting.
LED prices have eroded at a faster pace, pulling forward the payback time of LED lighting. According to the industry experts LED share in general lighting is expected to reach 70% in 2020 from 45% in 2016.
Geographical Classification of the Global Market:
Asia-Pacific holds a major market share of the total market and growing at a higher CAGR during the forecast period 2019 to 2026 owing to the increasing consumption of efficient energy lights in countries such as China, India, Japan, South Korea, and Vietnam.
Asia-Pacific also holds a larger market share in the total market in 2017 followed by Europe and North America and is expected to reach approximately 45% of the global general lighting market by 2020. At present, Asia leads the market transition to LED in general lighting, driven especially by countries such as China, India, and Japan.
Taiwan, Japan, and China are key contributors to regional growth owing to initiatives undertaken by the respective governments for embracing light-emitting diodes and the existence of many market players.
LED Lighting Market Segmentation
Large Display Back Lighting
By Product Type
Wall Washer Lights
Key Players Covered in the Global Market Report:
In the United States General Electric Co., Private Label, Osram Sylvania, JascoProducts Co., and Feit Electric Co. are the primary light bulb vendors.
These top 5 players combinedly hold approximately 93% of the total United States light bulbs market. The United States LED lighting market is a highly consolidated and significant market share held by General Electric Co. and Private label companies.
The report profiles the following companies, which include Philips, General Electric, Sam-sung Electronics, Osram GMBH, Panasonic, Toshiba, Hubbel, Cooper Industries plc (Eaton), Cree Inc., Sharp Corporation, Havells, Mitsubishi, Nchia, and Yankon.
The report covers all the major trends and drivers playing a key role in the growth of the LED Lighting Market. The wood Packaging market is segmented by Product, Application, and Region.
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The Full Report has the below insights.
The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
Visualize the composition of LED Lighting Market segmentation By Technology, service, By Application, and country, highlighting the key commercial assets and players.
By Product Type
Identify commercial opportunities in the Market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
Excel data sheet with thousands of Market-level 4/5 segmentation data points.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
Additional Benefits Post Purchase:
Unlimited Analyst support for a period of 1 year.
Any query regarding the scope offered will be addressed within 24- 48 hours.
An excel sheet with market numbers will be provided separately.
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