According to a new market report published by BlueWeave Consulting (www.blueweaveconsulting.com), the Global LED lighting market was valued at US$ 34.0 Bn in 2017 and is expected to expand at a CAGR of 13.7% from 2018 to 2025, reaching US$ 98.4 Bn by the end of the forecast period. According to the report, Asia Pacific was the largest contributor in terms of revenue to the Global LED lighting market in 2017.
Growing need among consumer for energy efficient lighting systems for various purposes is driving the Global LED Lighting market.
Rising urban population and consumer shift towards energy efficient lighting system will positively drive the LED lighting Market. Since scarcity of natural resources and costs of energy are increasing, LED lighting is among the most cost-effective products to reduce the depletion of natural energy resources.
The demand for energy-efficient lighting systems are increasing across residential, commercial, and industrial sectors due to growing industrialisation across the globe, increase in residential areas with better interior decorations owing to the changing lifestyle of people. The lower cost of operation along with reduced heat losses makes them the appropriate replacement for incandescent lights. Significant reductions in price of LED lighting systems in the recent years have enhanced the adoption of various LED lighting products worldwide. In addition, governments have introduced favourable regulations regarding the conventional lighting and energy consumption across United States, European Union, China, and India that are expected to favor the market demand for LED lighting.
Global LED Lighting Market: Scope of the Report
The Global LED Lighting market is segmented on the basis of product, end-user industry, application, and distribution channel. On the basis of product, the market is segmented into LED bulbs, led fixtures, bare led tubes, led downlights and others. On the end-user industry basis, the market is segmented into residential, commercial and industrial. On the basis of application, the market is segmented into Outdoor, Indoor, Back light, Automotive, and Others. On the basis of distribution channel, the market is segmented into Retail Distributors, and Online Suppliers.
On the basis of region, the market is segmented into five parts namely North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Global LED Lighting Market: Competitive Dynamics
Companies, such as Samsung Electronics Co. Ltd., Philips Lighting N.V, General Electric Company, LG Innotek Co. Ltd, Ever light Electronics Co., Ltd., Syska LED Lights Pvt. are the key players in manufacturing LED lighting systems globally. In terms of product offerings, Samsung Electronics Co. Ltd. and General Electric Company are the major players in the market, providing LED lighting systems.
Market Segmentation: Global LED Lighting Market
- LED Bulbs
- LED Fixtures
- Bare LED Tubes
- LED Downlights
By End-Use Industry
By Application Industry
- Back light
By Distribution Channel
- Retail Distributors
- Online Suppliers
In addition, the report provides analysis of the Global LED Lighting market with respect to the following geographic segments:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analysing both qualitative and quantitative data to boost up the performance of your business solution. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.