LED Lighting Market Share, Size, Trends, Growth, Report Analysis and Forecast Till 2024

Global LED Lighting Market Research Report and Forecast 2024

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Report Description and Highlights

Report Description

Global LED Lighting Market Overview: Over the recent years, the global LED lighting market has been witnessing a healthy growth on account of various initiatives undertaken by government. This can also be attributed to the advantages of LED lighting which include consuming less energy, producing less heat and surviving for a longer duration. A light-emitting diode (LED) is a semiconductor, electroluminescence device that emits light when an electric current is passed through it. Cost-effectiveness, reliability, minimal power consumption, and a longer life-span are some of the key benefits offered by LED lights when compared with the conventional lighting systems, such as incandescent and compact fluorescent light (CFL) bulbs. Owing to these benefits, these lights find extensive applications in both the outdoor and indoor settings across various industry verticals, ranging from electronics to healthcare.

Global LED Lighting Market Trends The global market is driven by the rising environmental consciousness across the globe, which has led to an accelerated shift toward the adoption of energy-efficient lighting solutions. Other factors, including technological advancements and the emerging trend of smart cities, are projected to drive the market further.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

Report Description

180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Furthermore, the implementation of favorable government policies promoting the utilization of LED lighting systems, along with significant investments by both the government and non-governmental sectors, is creating a positive impact on the market.

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Report Description and Highlights

Report Description LED Lighting Market Segmentation

Market Segmentation by Application • • • • • • •

Retrofit Retail and Hospitality Outdoor Offices Architectural Homes Industry

On the basis of application, the market has been segmented as retrofit, retail and hospitality, outdoor, offices, architectural, homes and industry. Currently, retrofit represents the largest segment as it has gained immense popularity across the globe. Conventional lighting systems ranging from indoor to outdoor lighting are being replaced by the retrofitting of existing lighting fixtures with LEDs. For more information, click here: https://www.imarcgroup.com/led-manufacturing-plant

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Report Description Market Segmentation by Region • • • • • • •

India China Europe United States Japan Brazil Russia

Region-wise, the market has been segmented into India, China, Europe, United States, Japan, Brazil and Russia. Amongst these, China is the leading producer as well as consumer of LED lighting products across the globe.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

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Report Description • • • • •

Nichia Osram Samsung Electronics Everlight Electronics LG Innotek

A partial List of

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Clients world's leading corporates, governments, and ourPartial ClientsList of institutions

A partial List of

We are the trusted business partners to the

of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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Report Description

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