The LED Lighting Market in Australia saw a drop in the growth in terms of transaction value in 2020 due to the Covid-19 pandemic, but as things are going back to normal with time, the industry is expected to recover faster.
Australia LED Lighting Market Overview: The Australia LED Lighting Market is currently at the growth stage owing to the growing consumer awareness about the environment, the durability of LED lights and the government initiatives for energy efficiency drive. The market is consolidated with some players owning the majority of the market. The industry saw a steady growth in the last few years as people are becoming more aware about the environment as well as the lower costs of the LED lights.
Impact of Covid-19 on Australia LED Lighting Market: The COVID-19 pandemic negatively impacted the global economy. The demand for LED lighting was reduced as a result of rigorous suspensions and lockdowns imposed on construction sites. However, the second half of 2021 saw an increase in construction due to the introduction of new as well as upgrading projects, which contributed to the steady recovery of the industry for LED lighting.
Rise in Penetration of LED Lights: LED lights have started to get very popular in Australia as they are energy-efficient and cost-saving in nature as well as they are highly controllable, when integrated with a driver, the intensity can vary based on the requirements. The increasing government policies in the country, such as a ban on the usage of incandescent light and the energy-efficient and cost-saving nature of LEDs, are increasing the penetration of LEDs. LEDs reduce power consumption and light pollution and have higher self-life than halogen bulbs.
Analysts at Ken Research in their latest publication “Australia LED Lighting Market Outlook to 2027F – By Type of LEDs (Luminaires and Lamps), By Usage of LEDs (Indoor, Outdoor, Street Lighting, Building Exteriors/ Façade Lighting, Parking Lots and Garages, Others) and By End User Sector (Commercial, Residential, Industrial, Healthcare and Hospitality)” observed that Australia LED Lighting Market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to the growing consumer awareness about the environment, the durability of LED lights and the government initiatives for energy efficiency drive. The LED Lighting Market in Australia is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.
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Key Segments Covered in the report
By Type of LEDs
- Luminaires
- Lamps
By Usage of LEDs
- Indoor
- Outdoor
- Street Lighting
- Building Exteriors/ Façade Lighting
- Parking Lots and Garages
- Others
By End User Sector
- Commercial
- Residential
- Industrial
- Healthcare
- Hospitality
By Type of Sales
- Project
- Retail
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Key Target Audience
- Government Bodies and Regulatory Authority
- Fintech Companies
- Investors and Financiers
- Venture Capitalist
- New Market Entrants
- Banks and its Subsidiaries
- NBFCs
- OEM Dealerships
- LED Light Manufacturers
- LED Light Sellers
Time Period Captured in the Report:
- Historical Period: 2017-2022P
- Base Period: 2022P
- Forecast Period: 2022P-2027F
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Companies Covered:
- LEDEXPO Australia
- Ledtec
- MyEnergy Group
- Dongguan City Tianhua Photoelectric Technology Co Ltd
- Jiangsu ChuangXu Optoelectronics Technology Co., Ltd.
- Shenzhen Guangshezhaoming Technology Co., Ltd
- Ningbo ALVA Electric Appliance Co., Ltd.
- Zhejiang Danse Electronic Technology Co., Ltd.
Key Topics Covered in the Report
- Australia LED Lighting Market Overview
- Australia LED Lighting Market Segmentation
- Australia Domestic LED Lighting Market Overview
- Australia International LED Lighting Market Overview
- Ecosystem of Australia LED Lighting Market
- Market Share of Major Players in Australia LED Lighting Market
- Industry Analysis of Australia LED Lighting Market
- Value Chain of LED Lighting Market in Australia
- Key Challenges of Australia LED Lighting Market
- End User Analysis of Australia LED Lighting Market
- Key Growth Drivers in Australia LED Lighting Market
- SWOT Analysis of Australia LED Lighting Industry
- Future Outlook of Australia LED Lighting Market
- Trends and Development of Australia LED Lighting Market
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