Press release
LED Lamp Market Growth Overview On GE, Philips, Osram, Cree forecast to 2024
LED Lamp Market, LED Lamp Market Study, LED Lamp Market Size, LED Lamp Market Segmentation, LED Lamp Market Growth
LED Lamp Market size is set to reach USD 13.5 billion by 2024, LED lighting is a cost-effective solution that provides longer duration of illumination compared to conventional counterparts such as filament bulbs and incandescent lights. The LED lamp market has witnessed considerable installation initiatives from regulatory bodies across public locations and highways.
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Report Mainly focuses on the top Manufacturers in global market are given bellow
GE, Philips, Osram, Cree
Growing concerns about the depletion of non-renewable sources of power have fueled the need for lighting solutions that can reduce the negative impact on the environment. Owing to their wide range of benefits, these products are expected to eventually replace the usage of commonly used lighting sources such as filament lamps, fluorescent, and halogen lighting, fueling global LED lamp market size.
LED Lamp Market By Product
• General purpose LEDs
• Decorative LEDs
• Specialty LEDs
LED Lamp Market By Application
Indoor use
• Residential
• Commercial
• Retail
• Hospitality
• Healthcare
• Others
• Industrial
Outdoor use
• Highways
• Public places
Global LED lamp market growth is attributed to modernization in lighting systems, demand for energy-efficient solutions, and adoption across residential, industrial, and commercial purposes during the forecast timespan. Stringent government regulations have boosted the need for eco-friendly solutions and reduction of carbon footprint through industrial and commercial applications.
The automation of the manufacturing process has reduced the input costs of developing LED sources; thus, playing a significant role in decreasing the overall cost. Increasing R&D in chips and arrays is also a major factor driving industry growth; for instance, the introduction of organic light-emitting diode lamps. Steady technological advancements in manufacturing have made these bulbs brighter with longer operational duration. These lighting elements have about 30,000 to 40,000 hours of lifespan and can last up to four times longer than the compact fluorescent bulbs.
The general-purpose LED lamp market is expected to witness high growth rates during the forecast period owing to multipurpose applications. Consumption trends across various verticals are observed irrespective of the end-use. Adjustable illumination settings along with longer product life are expected to increase the demand across commercial and residential applications.
Indoor applications of the LED lamp market include the usage in commercial, industrial, and residential areas. Rapid urbanization and demand for energy-efficient solutions in office spaces, warehouse locations, and others while reducing the carbon footprint of the company are propelling the demand in this segment.
Projects undertaken by governments in growing economies for infrastructure modernization also play a major role in driving the LED lamp market; for instance, China and India have approved and increased the installation in commercial and residential locations across the country.
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The above information is provided on a regional and country basis for the following:
• North America (U.S., Canada)
o Europe (Germany, Italy, UK, France, Austria, Spain, Portugal, Ukraine, Switzerland)
o Asia Pacific (Japan, China, India, South Korea, Australia)
o Latin America (Brazil, Mexico)
o MEA (South Africa, Saudi Arabia)
Stringent government policies in economies, such as China, Europe, and Canada, fueled by environmental concerns and requirement for energy-efficient solutions are the prime reasons for industry growth. Various countries including the U.S. have banned the usage of inefficient lighting solutions and offered rebates by utilities to reduce energy utilization. High living standards in Europe and the movement towards smart homes fitted with energy-efficient lamps are major reasons for regional LED lamp market growth. Companies operating in the industry include GE, Philips, Osram, Cree, etc.
Few Chapters of TOC
Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 LED lamp industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 LED Lamp Industry Insights
3.1 Industry segmentation
3.2 Industry growth landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technology landscape
3.4.1 Chip on board (COB) LED-array
3.4.2 OLED lighting
3.4.3 LED use in Li-Fi communication
3.5 Raw material analysis
3.6 Regulatory Landscape
3.6.1 U.S.
3.6.1.1 Institute of Electrical and Electronic Engineers (IEEE)
3.6.1.2 Illuminating Engineering Society of North America (IESNA)
3.6.1.3 American National Standards Institute (ANSI)
3.6.2 EU
3.6.2.1 Regulation 1194/2012
3.6.2.2 Energy Labels
3.6.2.3 Energy-related Products (ErP) Directive
3.6.3 China
3.6.3.1 GB30255-2013 regulations
3.6.3.2 GB/T2408-2014 regulations
3.7 Pricing analysis
3.7.1 Regional pricing trends
3.7.2 Cost structure analysis
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Reduction in LED prices
3.8.1.2 Increasing demand for energy efficient lighting
3.8.1.3 Favorable government initiatives
3.8.1.4 Infrastructure development projects
3.8.1.5 Growing usage in public spaces and street lightings
3.8.2 Pitfalls and challenges
3.8.2.1 Reduced replacement frequency
3.8.2.2 Effects of blue light
3.9 Innovation & sustainability
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 Competitive landscape, 2016
3.13 PESTEL analysis
Chapter 4 LED Lamp Market, By Product
4.1 Global LED lamp market share, by product, 2016 & 2024
4.2 General Purpose LED
4.2.1 Market estimates and forecast, 2013 – 2024
4.2.2 Market estimates and forecast, by region, 2013 – 2024
4.3 Decorative LED
4.3.1 Market estimates and forecast, 2013 – 2024
4.3.2 Market estimates and forecast, by region, 2013 – 2024
4.4 Specialty LED
4.4.1 Market estimates and forecast, 2013 – 2024
4.4.2 Market estimates and forecast, by region, 2013 – 2024
Chapter 5 LED Lamp Market, By Application
5.1 Global LED lamp market share, by application, 2016 & 2024
5.2 Indoor Use
5.2.1 Market estimates and forecast, 2013 – 2024
5.2.2 Market estimates and forecast, by region, 2013 – 2024
5.2.3 Residential
5.2.3.1 Market estimates and forecast, 2013 – 2024
5.2.3.2 Market estimates and forecast, by region, 2013 – 2024
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