According to TechSci Research report, LED Lighting Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026The global LED Lighting market is anticipated to reach USD81099.76 million in 2026 at a CAGR of 3.73% on account of government initiative such as smart city projects,advancements in IoT-enabled technologies and also due to risein green practices by organizations.
The rapidly increasing building and construction activities and high-rise infrastructure leading installation of new lightings is driving the growth of the global LED Lighting market. Lack of awareness concerning installation costs of LED and reimbursement periods and development of alternative technologies might mildly hinder the growth of the global LED Lighting market in the next five years.LED lamps do not contain toxic elements and are environment friendly in nature, and their demand is affected by initiatives and policies from governments in different countries. Thus, such policies introduced for environmental protection and energy saving are also also aiding the growth of the global LED Lighting market in the forecast period.
Browse over 231 market data Figures spread through110 Pages and an in-depth TOC on"Global LED Lighting Market" https://www.techsciresearch.com/report/led-lighting-market/8281.html
The global LED Lighting market is segmented based on Type, By Application, By Installation Type, By End-Use (Residential, Commercial, Industrial), By Distribution Channel (Direct Sales, Retail), and By Region Based. On the basis of LED type, the market is further segmented into LED bulbs and lamps, batten lights, downlights, and others which includespanel lights, spotlights, etc. LED bulbs and lamps segment is expected to register largest market share in the forecast period on the account of its efficiency and durability. Based on application the market is segmented intoindoor lighting and outdoor lighting. The outdoor lighting segment is expected to have the largest market share and will maintain its dominance over the market in the coming five years. The increasing expansion of roads throughoutthe globe which has hiked the demand for energy efficient streetlights has also contributed to the growth of the market.
Based on Installation type the market is segmented into new installation and retrofit installation. The retrofit installation dominated the market in 2020 with a share of 59.93% and will continue to dominate in the forecast period as well.
Based on end use, the market is segmented into residential, commercial, and industrial. Commercial applications of LED Lighting are expected to register largest revenue shares and assert their dominance over the market in the upcoming five years. Increasing demand for the green technologies such as Light Emitting Diode (LED) among organizations which reduces energy consumption, and also increasing awareness about environment safety are anticipated to drive the growth of the global LED Lighting market in the upcoming five years.
Key market players in the LED Lighting market include:
- Signify N.V.
- Acuity Brands Inc.
- Osram Licht AG
- Seoul Semiconductor Co., Ltd.
- Zumtobel Group AG
- General Electric Co.
- Fagerhult Group
- Hubbell Incorporated
- Everlight Electronics Co Ltd
- Foshan Electrical Lighting Co Ltd
- Endo Lighting Corp
- LSI Industries Inc.
- FW Thorpe Plc
- Havells India Ltd
- Dialight plc
Signify N.V is a LED lighting manufacturer that is focused on production of electric lights and light fixtures. The company is one of the largest manufacturers of LED Lightings. It has recently launched innovative and technologically advanced products, that is further promoting its brand value. Acuity Brands is another leading manufacturer driving the most advanced and wide-ranging portfolio of lighting products, controls, software, and services.
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Asia Pacific region is anticipated to hold the largest revenue shares of the market and dominate the market in the upcoming five years on account of rapidly increasing building construction activities in the countries like India and China which are rising the demand for LED lighting. Increasing population of both the countries is further expected to aid the growth of the market. China is the worlds largest population holding country and India is right after in its population count. Increasing demand for housing due to increasing population and government initiatives such as smart cities projects are also supporting the market growth.The new players in the market may focus on exploring the consumer demands and expanding research along with the smart product releases for brand establishment, saidMr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
LED Lighting Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026, Segmented By Type (LED Bulbs and Lamps, Batten Lights, Downlights, Others), By Application (Outdoor Lighting and Indoor Lighting), By Installation Type (Retrofit Installation and New Installation), By End-Use (Commercial, Residential, Industrial), By Distribution Channel (Direct Sales, Retail), By Region,has evaluated the future growth potential of global LED Lighting market and provides statistics information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global LED Lighting market.
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