What is LED Lightings Market Scope?
Government rebate and retrofit programs to stimulate the deployment of LED lighting, as well as strict restrictions prohibiting or restricting the use of inefficient lighting technologies, are all contributing to market growth. LED lighting is more expensive than incandescent, CFL, and halogen lighting, but it has a longer service life and produces more lumens for less wattage. Furthermore, over the projected period, the continuously dropping prices of LED lamps and luminaires, as well as the availability of smart lighting solutions, combined with updated energy policies around the world, are expected to give an impetus for market expansion.
The LED Lightings market study is being classified by Type (Lamps [A-Lamps, T-Lamps, Others] and Luminaires [Streetlights, Downlights, Troffers, Others]), by Application (Commercial Offices, Hospitals, Education, Highway and Roadway, Hospitality, Residential and Others [Retail, Architectural, Public Places, Automotive]) and major geographies with country level break-up. According to AMA, the Global LED Lightings market is expected to see growth rate of 14.77%
The market is fiercely competitive and extremely consolidated, with the top five players accounting for the majority of the market's revenue. Key players use a variety of techniques to maintain their market share, including new product creation, upgrades to existing product lines, and mergers and acquisitions. Forwarding integration is becoming more popular in the industry as semiconductor companies aim to establish themselves as lighting companies. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global LED Lightings market throughout the predicted period.
Phillips Lighting Holding B.V. (Netherlands), General Electric Company (United States), OSRAM Licht AG (Germany), Cree, Inc. (United States), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (United Kingdom), Zumtobel Group AG (Austria), Samsung (South Korea) and Sharp Corporation (Japan). are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Hubbell, Panasonic Corporation, Signify Holding, Semiconductor Co. Ltd. and Syska.
Analyst at AMA have segmented the market study of Global LED Lightings market by Type, Application and Region.
On the basis of geography, the market of LED Lightings has been segmented into South America (Brazil, Argentina, Chile, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Indonesia, Thailand, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Sweden, Belgium, Finland, Denmark, Russia, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
June 2021- Syska announced the launch of new LED Lights under the ‘T5 LED Batten’ brand in India for only Rs 449 and Rs 549. Syska T5 LED Batten (PC) and Syska T5 LED Batten (AL) LED has surged the protection of 4KV and are installed with 440V OVP(Over Voltage protection).
Influencing Market Trend
- Growing Adoption of Energy-Efficient Lighting Systems
- Penetration of LEDs as A Light Source in General Lighting
- Increasing Demand for LED Lighting Due to the Modernization and Development of Infrastructure Such as Smart Cities
- Reduction in Prices of LEDs
- Development of Wireless Technology for LED Lighting Systems
- Lack of Awareness Regarding Installation Costs and Payback Periods
- ack of Common Open Standards
Key Target AudienceLED Lightings Manufacturer, LED Lightings Suppliers, LED Lightings Distributors, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the LED Lightings market expands?
The Global LED Lightings market is expected to see a growth of 14.77% during projected year 2020 to 2026.
2. Who are the prominent players of the Global LED Lightings market?
The prominent players of Global LED Lightings market are Phillips Lighting Holding B.V. (Netherlands), General Electric Company (United States), OSRAM Licht AG (Germany), Cree, Inc. (United States), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (United Kingdom), Zumtobel Group AG (Austria), Samsung (South Korea) and Sharp Corporation (Japan)., to name a few.
3. What are the top priorities to focus for LED Lightings market’s growth?
In this highly competitive & fast evolving LED Lightings industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.