Heavy demand for new construction, rising usage in residential application along with declining LED prices will strengthen Asia’s position.
Rising Government Interventions: Governments around the world have passed measures to phase out incandescent light bulbs for general lighting in favor of more energy-efficient lighting alternatives. Moreover, engagement by the governments of developed economies (UK & US) and emerging economies (India & China) in the promotion of LED lighting products by providing the tax incentives and subsidies for these products are fuelling the market growth.
Dramatic Cost Reduction: LED manufacturers have come up with new and cost-effective technologies. The prices of LED fell from $12.4 in 2014 to $5.1 in 2019. The steep decline in the price of LED light sources is primarily attributed to the increased supply in 2017 and competition among brands to gain market share. In countries like China and India, the demand for LED has gone up manifold since 2014 while the prices have reduced by a third.
Technological Advancements: Products having technologies such as motion sensors, IOT technology, control options through mobile applications, smart lighting has driven the market growth. Cities across the globe have installed smart streetlights, built on an IoT backbone, which are useful in traffic monitoring, crime detection, and sensing environmental issues. Moreover, use of Light Fidelity (Li-Fi) for transmitting data over light wave has reduced the burden on the existing radio networks by offering last-mile connectivity to congested areas.
Rising Awareness: Rising consumer awareness about cost-effectiveness and eco-friendliness of LED lights has driven the volume sales from the residential and well as the commercial sectors. Residential lighting segment has witnessed high growth due to the adoption of LED A-type lamps but commercial application continues to lead the market applications.
The report titled “Global LED Lighting Market Outlook to 2025– Rise in Government Interventions, Rapid Technological Advancements and Rise in Smart City Projects will Drive the Market” provides a comprehensive analysis on global LED Lighting market. The report covers various aspects including the current global lighting scenario in value, its segmentations viz, type of LEDs, sales channel, technology, end users and regional analysis, major trends and development, issues and challenges, government regulations and competition benchmarking. The report concludes with market projections for future of the industry including forecasted industry size by revenue and prices.
Key Segments Covered:-
By Type of LED
Luminaires
Lamps
By Type of LED Luminaries
Troffers
Downlights
High Bay
Outdoor Area Lights
Roadway Fixtures
Other Luminaries
By Type of LED Lamps
A-Lamps
Tubes
Reflectors
Other Lamps
By Usage
Indoor
Outdoor
By End User
Commercial
Residential
Industrial
Others
By Distribution Channel
Retail Sales
Project Sales
By Region
Asia-Pacific
North America
Europe
Latin America
Middle East and Africa
Companies Covered:-
Signify
OSRAM
GE Lighting
Acuity Brands
Cooper Industries (Eaton)
Zumtobel Group
Seoul Semiconductor
Everlight Electronics
Cree Inc.
Dialight PLC
Syska LED
Bajaj Electricals
Panasonic
PT. Honoris Industry
Solarens Ledindo
PT. Holz International Technology
Firefly Electric and Lighting
Yatai International
Akari Lighting & Technology
TCP Holdings
Hubbell Incorporated
Felio Sylvania
Nikkon
NVC Lighting
National Lighting Company
Al Nasser Group
Key Target Audience:-
LED Lighting Manufacturers
LED Lighting Suppliers
LED Lighting OEMs/Assemblers
LED Lighting Importers/Exporters
Research organizations and consulting companies
Government bodies such as regulating authorities and policy makers
Market research and consulting firms
Time Period Captured in the Report:-
Historical Period – 2014-2019
Forecast Period –2019-2025F
For More Information on the research report, refer to below link:-
Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
