Press release
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.
Explore Full Report Description At: https://www.imarcgroup.com/china-led-market
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
Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=1212&flag=C
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.
Other Related Reports by IMARC Group:
UAE LED Lights Market Report 2023-2028: https://www.imarcgroup.com/led-lights-market-uae
Indian Smart Lighting Market Report 2023-2028: https://www.imarcgroup.com/indian-smart-lighting-market
UAE Smart Lighting Market Report: https://www.imarcgroup.com/uae-smart-lighting-market
Smart Pole Market Report: https://www.imarcgroup.com/smart-pole-market
Smart Spaces Market Report: https://www.imarcgroup.com/smart-spaces-market
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: apac@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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