Rising awareness of LED technology and rapid urbanization in the country are some of the major factors contributing to the development of the LED Lighting Market in Malaysia.
Sustainable and Energy Efficient Technologies: During the research period 2017-2022, the Malaysian LED lights market showed a remarkable rise at a CAGR of ~%. It is backed up by the growing importance of sustainable development and the usage of energy-efficient technology in the country. Consumer awareness is developing, and stringent government regulations to reduce energy consumption are increasing the demand for energy-efficient connected lighting, which is driving the market growth. Furthermore, malls and showrooms assess what actions are required to catch the attention of their customers and elicit buy intent. In this situation, appropriate and appealing lighting is critical for making the supplied items appear more desirable. LED lights are adaptable and come in a variety of colors, sizes, wattages, and forms, and are utilized for decorating throughout Malaysia’s festive seasons. These variables are influencing the use of LED lighting in business areas.
Growing Popularity of Smart Cities: Connectivity and technical improvements have resulted in a rise in the use of intelligent lighting systems across the country. A number of government programs also assist the growing popularity of smart cities in various locations. Because a smart city is a network of interconnected systems, the general lighting application in a smart city necessitates automated lighting solutions which help the expansion of the LED Lighting market. Moreover, the huge energy-saving potential of LED lamps, coupled with their decreasing prices over the past few years, has accelerated the demand for these lighting products across Malaysia. Additionally, many government policies have been implemented in recent years to increase their adoption.
Inefficient Conventional Methods of Lighting: In industrial environments with high, difficult-to-reach ceilings and vast expanses, conventional high-intensity discharge (HID) and fluorescent lighting systems approaches are inefficient, resulting in illumination problems and inefficiencies. As a result, some industrial site managers in Malaysia have implemented bespoke LED lighting systems that optimize savings while also improving performance throughout their facilities. HID systems are also incompatible with modern sensors and wireless controllers. Furthermore, long strike-up times frequently cause facilities to leave these lights on for longer periods of time. As a result, LED lighting systems with advanced lighting controls that collect sunshine to minimize energy consumption or turn lights on and off at pre-determined times in pre-determined zones are in high demand in Malaysia.
Analysts at Ken Research in their latest publication “Malaysia LED Lighting Market Outlook to 2027F– By Type of LEDs (Lamps and Luminaires), By Usage (Indoor and Outdoor), By Sector, By Region, By Sales (Project and Retail)” observed that Malaysia LED Lighting Market is in a growing phase. Shifting trends towards energy-efficient lamps, and growing awareness towards the utilization of LED bulbs in rural areas are some of the factors that will contribute to the Malaysia LED Lighting market growth over the period of 2022-2027F. It is expected that Malaysia LED Lighting Market will grow at a CAGR of ~% for the above-forecasted period.
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Key Segments Covered in the report
Malaysia LED Lighting Market
By Type of LEDs:
- LED Luminaires
- Downlights
- Linear Lights
- Flood Lights
- High Bay
- Other Luminaires
- LED 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
- Others
By Region:
- Central
- East Coast
- Sabah and Sarawak
- North
- South
By Type of Sales
- Project
- Retail
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Key Target Audience
- Existing LED Lighting Manufacturers in Malaysia
- New Market Entrants- Domestic OEMs
- New Market Entrants- Foreign OEMs
- Real Estate Companies
- Government Bodies
- Investors & Venture Capital Firms
- Lighting Equipment Manufacturers and Importers
- LED Lighting Retail Chains
- Lighting Equipment Distributors
- Lighting Equipment Associations
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Period: 2022
- Forecast Period: 2022-2027F
Companies Covered:
- Philips Hue
- TP-Link
- Li-Fi Labs
- Signify
- IKEA
- Alfo Lighting
- O.S. In D’sign
- Lightcraft
- NSB
- Oversea Lighting & Electric(M) Sdn Bhd
- LigLED
- SUCCESS
- Decasa Lighting
- Lumiere Lighting
- E S L Lighting
- Mr Bright Lighting
Key Topics Covered in the Report
- Overview and Genesis of the Malaysia LED Lighting Market
- Cross-Comparison of Malaysia LED lighting Market with other Asian nations
- Malaysia LED Lighting Market Value Chain Analysis
- Major Entities Involved in Value Chain and their Strategies
- Malaysia LED Lighting Market Size, 2017-2022, By Sales Value
- Malaysia LED Lighting Market Segmentation
- Cost Analysis/ Cost Component for LED Lighting in the Malaysia Market
- Decision-Making Process Before Purchasing LED Lighting in the Malaysia Market
- Trends and Developments in the Malaysia LED Lighting Market
- Issues and Challenges in Malaysia LED Lighting Market
- SWOT Analysis for the Malaysia LED Lighting Market
- Recent Technologies in Malaysia LED Lighting Market
- Manufacturing Clusters for LED and Component Manufacturers in Malaysia
- Government Initiatives and Regulations in the Malaysia LED Lighting Market
- Market shares of major players in the Malaysia Lighting Market
- Competitive Scenario in Malaysia LED Lighting Market
- Competitive Landscape of Major Players in Malaysia’s LED Lighting Market
- Malaysia LED Lighting Market Future Outlook and Projections, By Revenues, 2022-2027F
- Malaysia LED Lighting Market Future Outlook and Projections, By upcoming
- Technologies in the Lighting Market
- Analyst Recommendation
For more insights on the market intelligence, refer to the link below: –
Malaysia LED Lighting Market Outlook to 2027F: Ken Research
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