|04-12-2019 02:05 PM CET - Fashion, Lifestyle, Trends||
LED Lighting Market Notable Developments 2026 | Philips Lighting Holding B.V., Osram Licht AG, GE Lighting, LG Innotek, Cree, Inc., Cooper Industries, Inc., Seoul Semiconductor, Samsung Electronics, and Lightning Optoelectronic.
Press release from: Coherent Market Insights (CMI)
The global LED lighting market is projected to reach over US$ 120 billion by 2025, exhibiting a CAGR of 16.61% over the forecast period (2017-2025). The LED lighting market is mainly driven by advantageous features offered by LED lights over incandescent and fluorescent lamps such as increased energy efficiency, longer lifetime, enhanced physical strength, smaller size, design flexibility, and environmental friendliness.
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The global demand for green technologies is also fueling the growth of the LED market. LED lighting systems use up to 50% less energy to generate an equivalent light intensity as Compact Fluorescent Lamps (CFL) and Cold Cathode Fluorescent Lamps (CCFL). This reduced energy consumption that directly converts into a reduction of more than 700 million tons of carbon dioxide emissions annually. It is estimated by observing the current market trend for CFLs and CCFLs, as these two technologies are the main products that will be exchanged by LEDs.
Browse over 40 Market Data Tables and 60 Figures spread through over 300 Pages and in-depth TOC on Global LED Lighting Market, by Product Type (LED Bulbs, Bare LED Tubes, LED Fixtures, LED Down lights and Others), by Services (Consulting Services, Installation Services and Maintenance & Support), by End-use Industry (Residential, Commercial and Industrial), by Application Type (Outdoor, Indoor, Backlighting, Automotive and Others) and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East) - Global Forecast to 2025.
Installation Services Segment Holds a Dominant Position
On the basis of service type, the installation segment is expected be the dominant segment in the market, owing to rising demand for energy-efficient light sources such as LED bulbs. The old generation lamps are installed with LED bulbs, as they consume less energy and have longer working life.
Commercial Segment is Expected to be the Fastest Growing Segment
Among end-users, the commercial segment is estimated to exhibit the highest growth rate during the forecast period (2017–2025), owing to increasing infrastructural activities globally, which in turn attracts high activity of commercial segment in transporting and other related works to LED bulb.
Outdoor LED Lighting System Accounted Major Market Share
On the basis of application, the outdoor segment held the highest position in 2016, with a market share of 31.5%. The major factor for expansion of outdoor LED lighting system is its increasing popularity and usage in roadways, traffic lights, tunnels, parking lots, garages, which is extensive as compared to residential applications. Residential applications for LED lighting include lighting for smart home, HDR 4K, and ultra-slim, curved, and high gamut display TVs.
Asia Pacific accounted for the largest market share
Asia Pacific held the largest share of the LED lighting market in 2016, and the market in Europe is projected to emerge as the second largest market by 2025. The relatively high standard of living and high disposable income among the populace in Europe, increases their inclination towards investments in smart homes with innovative LED lighting systems. Thus, augmenting growth of the LED lighting market in the region. Asia Pacific is growing at high pace due to rampant infrastructural renovation in emerging economies such as China and India.
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Major players operating in the global LED light market include Philips Lighting Holding B.V., Osram Licht AG, GE Lighting, LG Innotek, Cree, Inc., Cooper Industries, Inc., Seoul Semiconductor, Samsung Electronics, and Lightning Optoelectronic.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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This release was published on openPR.
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