Japan LED Lighting Market 2020 Trends, Key Players, Product Scope, Growth Rate Outlook, Challenge and Forecast to 2025

According to the new research report by IMARC Group, the Japan LED market reached a value of US$ 5.8 Billion in 2019. Looking forward, the market to exhibit moderate growth during the next five years.

A light-emitting diode (LED) stands for a semiconductor device that produces non-coherent and narrow-spectrum light after the electric current is passed through it. LED lights are more eco-friendly than conventional lights and save approximately 90% of the overall energy. Furthermore, LED light also offers minimized heat radiation, shock-resistant, higher durability, and lower power consumption. Japan instigated LED industry policies with its “21st Century Lighting Project,” quite early in 1998. However, until 2010, it was unsuccessful in promoting LED lighting due to delay in standard-setting. The industry again gained traction after the earthquake in Fukushima, closing all nuclear power plants running in the country and creating a massive power supply gap.

Request to get the sample report: https://www.imarcgroup.com/japan-led-market/requestsample

Market Trends

The Japanese government replaced incandescent light bulbs with energy-efficient LED lighting systems to resolve the power shortage concern. Moreover, the expanding consumer electronic sector in Japan has augmented the usage of LED lights in smartphones, feature phones, digital video cameras, and other electronic devices. These lights are also used in automotive, general lighting, signal and signage, healthcare, forensic, academics, etc. The Japanese government offers several incentives and subsidy programs to promote the adoption of LED lights in the country. With rapid advancements in LED technology, various manufacturers are introducing innovative lighting products with increased efficiency and durability. Additionally, the rising environmental concerns towards carbon emissions from fluorescent lamps are further augmenting the demand for LED lights.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/japan-led-market

Insights on Market Segmentation:

Market Breakup by Product Type

Panel Lights
Down Lights
Street Lights
Tube Lights
Bulbs
Others

Market Breakup by Application

Commercial
Residential
Institutional
Industrial
Others

Market Breakup by Installation Type

New Installation
Retrofit Installation

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This release was published on openPR.