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What are the Growth Factors of APAC LED Lighting Market? Key Vendors: Koito Manufacturing Company, Stanley Electric U.S. Co., Inc., OSRAM, Samsung Electronics, Cree & LG Electronics
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On the basis of outdoor LED lighting, the Asia-Pacific LED lighting market is categorized into road network, parks, parking spaces, stadiums/sports complex, transportation, and ‘others’; wherein others include agriculture, architectural, and religious institutions. Among these, road network sub-category is expected to hold largest share in the market in 2024.
On the basis of installation type, Asia-Pacific LED lighting market is classified into new installations and retrofit. Among these, retrofit installation is projected to be fastest growing category in the region due to increasing replacement of incandescent and sodium vapor lamps with LEDs in the countries such as India, China, Japan, Australia, and South Korea.
This can be attributed to increasing replacement of older technology lights used in street lights with LED lights. Countries such as India, China, South Korea, and Australia are increasingly installing LED lights on roads to reduce energy consumption and CO2 emissions.
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Rising number of smart cities is supporting the growth of Asia-Pacific LED lighting market. Presently, several smart city development projects are on the line in countries such as China, India, and South Korea. China introduced national smart city development project in 2012 to build smart cities with modern technology. Further, Chinese government aimed to nurture 100 new smart cities to lead their urban planning and development by 2020.
Based on industrial LED lighting, Asia-Pacific LED lighting market is categorized into chemicals and pharmaceuticals, automotive, energy and utilities, oil and gas, food and beverage, electronics and semiconductors and ‘others’; wherein others include telecom, mining, and textile.
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The major players in the Asia-Pacific LED lighting market in the region are mainly involved in product launches, and partnerships. The companies involved in product launches and partnerships are Cree Inc., Osram Licht AG, Samsung Electronics Co. Ltd, Zumtobel Group AG, and Koito Manufacturing Co. Ltd. It would strengthen the product offerings of the company and support in acquiring large number of customers.
Major companies in the Asia-Pacific LED lighting market include Koito Manufacturing Co. Ltd., Stanley Electric Co. Ltd., Osram Licht AG, Samsung Electronics Co. Ltd., Cree Inc., Signify N.V., LG Electronics Inc., Panasonic Corporation, Zumtobel Group AG, and Seoul Semiconductor Co. Ltd.
APAC LED Lighting Market Segmentation
Market Segmentation by Product Type
• Luminaires
• Lamps
Market Segmentation by Installation Type
• New Installation
• Retrofit
o A-Lamps
o Reflectors
o T-Lamps
o Other Lamps (Self-Ballasted LED Lamps, Parabolic Aluminized Reflector (PAR),
Multifaceted Reflector (MR) and Bulged Reflector (BR) lamps)
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LED Lighting Market : www.psmarketresearch.com/market-analysis/led-lighting-market
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