China LED Market Expanding at a CAGR of 20.2% during 2023-2028

IMARC Group has recently released a new research study titled "China LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The China LED market is expected to exhibit a growth rate (CAGR) of 20.2% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

A LED or light-emitting diode refers to a semiconductor device that generates non-coherent and narrow-spectrum light when an electric current passes through it. As compared to conventional lighting products, it offers various benefits, including longer shelf life, higher efficiency, reliability, improved dimmability, compact size, low heat output, minimum radiation emission, less power consumption, etc. Furthermore, a LED is commonly available in a wide array of sizes and can be installed in any circuit type. Presently, it is replacing incandescent and fluorescent lights across China.

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China LED Market: Trends and Drivers

The widespread product adoption that provides optimum luminous efficacy and the growing consumer awareness towards sustainable development are primarily driving the China LED market. Additionally, the increasing levels of urbanization, local energy savings targets, and minimized prices are stimulating the market growth. Apart from this, government bodies in this country are offering large-scale subsidies to promote the utilization of LED lighting for better service life at less wattage, which is acting as another significant growth-inducing factor. Moreover, the inflating popularity of LED technology that is combined with exterior area lighting, including street lights, to provide a secure and connected city lighting network is also stimulating the market growth. Besides this, the rising investments in R&D activities aimed at developing smart lighting systems are anticipated to fuel the China LED market over the forecasted period.

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Key Market Segmentation:

The report has segmented the China LED market on the basis of product type, application, installation type and region.

Breakup by Product Type:

• Panel Lights
• Down Lights
• Street Lights
• Tube Lights
• Bulbs
• Others

Breakup by Application:

• Commercial
• Residential
• Institutional
• Industrial
• Others

Breakup by Installation Type:

• New Installation
• Retrofit Installation

Breakup by Region:

• Guangdong
• Jiangsu
• Shandong
• Zhejiang
• Henan
• Others

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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