LED Flood Light Market Size Projected to Surpass US$ 13.2 Billion By 2028 | CAGR of 11%

According to IMARC Group latest report titled "LED Flood Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on LED flood light market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global LED flood light market size reached US$ 7.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 11% during 2023-2028.

What are LED flood light?

LED flood lights refer to powerful artificial lights extensively utilized for outdoor lighting applications. These lights emit a bright white light that spreads across a wide angle, effectively illuminating the targeted area. Compared to other lighting options, such as compact fluorescent lamps (CFLs) and incandescent lights, LED flood lights offer superior energy efficiency and higher levels of illumination. They are constructed with robust materials capable of withstanding extreme temperatures and harsh weather conditions. In addition to this, LED flood lights do not emit ultraviolet (UV) or infrared radiation. As a result, these lighting solutions find widespread applications in illuminating yards, stages, stadiums, playgrounds, warehouses, gardens, security perimeters, and living spaces.

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What are the growth prospects and trends in the LED flood light industry?

The escalating product demand, owing to its durability and a relatively long service life that reduces the need for frequent replacements, is among the primary factors driving the LED flood light market. Besides this, these variants require minimal maintenance and are enclosed within unbreakable covers, which is further augmenting the market growth. Moreover, the growing popularity of LED flood lights in residential and commercial sectors, on account of their low heat emission that contributes to the overall reduction in ambient room temperature and the minimal repair and maintenance costs associated with them, is also catalyzing the global market. Apart from this, the launch of several policies by the government bodies promoting the use of these lights as part of sustainable development initiatives is acting as another significant growth-inducing factor. Furthermore, the elevating shift towards energy-efficient lighting systems, owing to the increasing cost of electricity and the growing environmental awareness, is expected to bolster the LED flood light market in the coming years.

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LED Flood Light Market Segmentation:

Our report has categorized the market based on region and application.

Breakup by Application:
• Retrofit
• Retail & Hospitality
• Outdoor
• Offices
• Architectural
• Residential
• Industrial

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.