Global Solid State Lighting Market 2018 – 2024 Top Industry Players: Eaton, GE, Samsung Electronics, OSRAM, Molex, Philips Lighting, Veeco, TSMC, Coolon LED Lighting, Bridgelux, Inc., Mitsubishi Electric Corporation, Nichia America Corporation

Global Solid State Lighting Market growth will be driven by rising demand for energy efficient lamps primarily for residential applications on account of increasing conventional bulbs replacement. These products have lower energy consumption, longer life and less space requirements which increases their suitability for lighting applications. SSL technology comprises of various products such as lamps, luminaires, high & low-bay lights, flood & downlights and under-cabinet lamps providing benefits such as high thermal management, optimized lumen production and cost efficiency which may further boost industry growth.

Solid State Lighting (SSL) Market size was over USD 34.5 billion in 2017 and is set to surpass USD 85 billion by 2024; according to a new research report by Global Market Insights, Inc. Rapid urbanization & industrialization primarily in Malaysia, and China have increased the focus on energy-efficient lighting to reduce GHG emissions and improve bulbs life may contribute to solid state lighting market demand.

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These products provide high energy efficiency and less heat generation as compared to incandescent lamps thereby leading to reduction in carbon emissions. The implementation of solid state lighting technology may reduce global lighting CO2 emissions by approximately 1,500 million tons thereby stimulating market growth.

High efficiency, improved battery life, and design flexibility are contributing to rising solid state lighting usage in automotive lighting applications. Additionally, increasing usage of solid state lighting technology in high, mid and low-end cars pertaining to cost standardization and optimization may further propel solid state lighting market. Rising high-brightness LEDs demand for providing high visibility & differentiation is likely to boost the market.

Europe OLED based solid state lighting market size may register gains close to 11% by 2024. Declining prices due to reduction in manufacturing costs and increasing demand for sustainable & energy-efficient lighting products are predicted to boost market growth. solid state lighting products are majorly used in several outdoor lighting applications such as parking lots, campuses and street lights which may further contribute to the growth solid state lighting market demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Eaton
2. GE
3. Samsung Electronics
4. OSRAM
5. Molex
6. Philips Lighting
7. Veeco
8. TSMC
9. Coolon LED Lighting
10. Bridgelux, Inc.
11. Mitsubishi Electric Corporation
12. Nichia America Corporation

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Growth Drivers:

• Importance of LED technology in horticulture application in the North America
• Increasing R&D and government spending in the North America
• Increasing usage in automotive lighting sector in the Europe
• Ban on incandescent bulbs in the Europe
• Government initiatives for the development of smart cities in the Asia Pacific
• Government endorsement of energy-efficient lights in the Asia Pacific

U.S. LED market size from outdoor applications may witness significant gains at about 12.5% by 2024 owing to declining streetlight LED prices and rising government focus on energy efficient products. The progress of LED outdoor lighting market from a nascent to a mature stage along with replacement of decorative streetlights in various cities such as Las Vegas, Los Angeles and New York to achieve energy & cost reduction will further stimulate market growth.

Europe led by UK, France, Italy, and Germany solid state lighting market demand is expected to surpass USD 20 billion by 2024. Decreasing usage of inefficient lamps coupled with rising LED demand for exterior illumination of vehicles may contribute to market growth. New car registrations in Europe was over 14.5 million in 2017 pertaining to economic recovery and rising demand for electric vehicles which indicates ample growth potential for solid state lighting market in the region.

Major players in Global solid state lighting market include ETi Solid State Lighting, Inc., Solid State Luminaires, Green Rock Lightning, TSMC, Veeco, ARC Solid-State Lighting Corporation, Cireon, LLC, Sasaki Associates, Inc., FC | SSL Lighting - US Commercial Lighting Manufacturer, Philips Lighting, MSi,Coolon LED Lighting, Molex, OSRAM, nTact, Samsung Electronics, GE, Eaton, Nichia America Corporation, Mitsubishi Electric Corporation, and Bridgelux, Inc.

Browse key industry insights spread across 530 pages with 1284 market data tables & 35 figures & charts from the report, “Solid State Lighting Market Size By Technology (LED {By Product [Lamps, Luminaires], By Installation [New, Retrofit], By Application [Indoor (Residential, Commercial ( Office, Malls, Hospitals), Industrial (Mining, Automotive, Construction), Outdoor (Highway & Roadway, Architectural, Public)}, OLED {By Application [Industrial, Residential, Commercial, Automotive, Hospital, Architectural]}) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Denmark, Netherlands, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Brazil, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/solid-state-lighting-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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