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Global LED Lighting Market Report and Forecast 2022-2027
Bharat Book Bureau Provides the Trending Market Research Report on “Global LED Lighting Outlook Market2022 by Manufacturers, Regions, Type and Application, Forecast to 2028” under Consumer Goods Market Research Reports Category. Our report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
According to Expert Market Research’s latest report, ‘Global LED Lighting Market Report and Forecast 2022-2027’, the global LED lighting market attained a value of about USD 64,382 million in 2021. Aided by the rising environmental consciousness worldwide, the market is projected to further grow at a CAGR of 9.1% between 2022 and 2027 to attain around USD 109,661 million by 2027.
LED or light emitting diodes are semiconductor devices that emit light, when an electric current passes through it, as the light carrying particles combine together. LED lights provide an energy efficient lighting solution compared to incandescent lights, offering 25 times longer durability with use of 75% less energy. Additionally, LED lights emit light in one direction, thus, reducing the requirement of reflectors and diffusers, while also decreasing the heat produced. These lights find increased application in bulbs and fixtures for general lighting purposes and come in a variety of colours and designs.
The LED lighting industry is being driven by the growing environmental awareness worldwide. This can be associated with the rising pollution levels globally and the increased demand for energy efficient solutions. Additionally, the low operating costs and reduced heat losses are also expected to add to the overall popularity of LED lighting solutions. Moreover, the rising investment in the construction industry for the development of green building infrastructure is also anticipated to propel the demand for LED light bulbs in the forecast period. Furthermore, the heightened product availability, improved manufacturing efficiency, and reduced cost are also estimated to aid the industry. In the coming years, the rapid technological advancements are projected to add to the market growth, with the development of safer, durable, and long lasting lighting solutions. These factors are expected to positively impact the global LED lighting industry.
The market report by Expert Market Research analyses the market based on segmentation such as product, application, end use, and major regions.
Market Breakup by Product:
Among these, lamps can be further segmented by type into A-Lamps, T-Lamps, and others. At the same time, the luminaire segment can be further divided by type into downlight, streetlight, high bay, troffers, track lights, suspended pendants, and others.
Market Segmentation by Application:
Market Segregation by End Use:
•Highway and Roadway
Market Breakup by Region:
•Middle East and Africa
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the Expert Market Research report are:
•Lumileds Holding B.V.
•Acuity Brands, Inc.
•Koninklijke Philips N.V.
•Everlight Electronics Co., Ltd
•Samsung Electronics Co., Ltd.
•Seoul Semiconductor Co., Ltd.
•OSRAM Licht AG
Browse our full report with Table of
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