The new report by Expert Market Research titled, ‘Global LED Lighting Market Size, Share, Price, Growth, Report and Forecast 2020-2025′, gives an in-depth analysis of the global LED lighting market, assessing the market based on its segments like products, applications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 48 billion
- Forecast CAGR (2020-2025): 12%
LEDs are highly energy-efficient and have a longer life, which is likely to increase the indoor and outdoor LED lighting applications. Such lights produce nearly 50,000 hours of illumination, with a limited amount of energy consumed compared to incandescent lamps. The demand for energy-efficient lighting systems in the residential, commercial, and industrial sectors, the growing concern for the reduction in non-renewable energy sources, and the reduction in prices for light emitting diodes (LED) are the various factors anticipated to fuel the industry growth. Advancements in technology, changes from conventional to green lighting, rising energy efficiency needs, and lower prices have also contributed to the increased demand for LED lighting.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/led-lighting-market
Industry Definition and Major Segments
LED lighting refers to new energy-efficient lighting technology, consisting of LED lights, which are electricity-converting semiconductors.
On the basis of product, the LED lighting market is divided as:
By application, the LED lighting market can be segmented as:
Based on end-use, the LED lighting market can be categorized as:
Based on region, the LED lighting market can be segmented into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Governments are offering incentives and discounts to replace conventional lamps with LED products, allowing consumers to continue supporting LED products throughout the world. Smart lighting is also expected to provide lucrative application opportunities in the manufacturing and commercial sectors. In the United States and other European countries, smart city schemes have focused on approaches to reduce peak electricity demand and total energy usage. LED lights also have many advantages over incandescent lamps, such as power, energy efficiency, and proper time stability. In addition, they can be found in many different designs as well as applications, including T-lamps, reflectors, A-lamps, and MR-16 lamps. The transition from CFLs to light emitting diodes is expected to speed up in the coming years, thus, aiding the growth of the LED lighting industry. Furthermore, accentuated regulatory maps for phasing out incompetent light bulbs would boost demand for residential and commercial use.
Key Market Players
The major players in the market are Nichia Corporation, Osram Gmbh (ETR: OSR), Samsung Electronics Co Ltd. (KRX: 005930), Everlight Electronics Co. Ltd. (TPE: 2393), LG Innotek Co. Ltd. (KRX: 011070), Koninklijke Philips N.V. (AMS: PHIA), Epistar Corp. (TPE: 2448), Seoul Semiconductor Co. Ltd. (KOSDAQ: 046890), Cree (NASDAQ: CREE), Lumileds Holding B.V., and Panasonic Corporation (TYO: 6752), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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