China LED Market Research Report, Growth, Top Companies Share, Size, and Forecast

IMARC Group has recently released a new research study titled "China LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

Industry Overview:

The China LED market is expected to exhibit a growth rate (CAGR) of 20.2% during 2023-2028. A light-emitting diode (LED) represents a light source that alters electrical energy instantly into light energy. It is durable, operates for a longer duration, and offers more suitable quality than traditional lighting technologies. LED lights provide high lumen power by consuming less energy and having a more useful service life with no flickering. These lamps are a better solution than other lights, such as CFL, halogen, and incandescent. LEDs function at low energy input while providing high illumination. In addition, they also offer design flexibility and the ability to withstand frequent switching. As a result, LEDs are widely utilized in outdoor and indoor settings.

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Market Trends and Growth Drivers: 

The shifting preference of consumers towards AMOLED displays from LCDs and the escalating demand for adequate visual experiences from television and smartphones are among the primary factors driving the China LED market. Besides this, the rising inclination toward high-lumen low-watt products and the launch of several policies by the government bodies to prevent inefficient lighting systems to ensure consumer safety are further augmenting the market growth. Moreover, the leading LED manufacturers are concentrating on incorporating advanced features, such as Wi-Fi, occupancy sensors, and daylighting, which are also catalyzing the market across China.

Apart from this, the expanding infrastructure growth, reducing prices, local energy savings targets, and the emerging trend of urbanization are acting as significant growth-inducing factors. In addition to this, the growing awareness among the masses toward the benefits of this lighting solution and the easy availability of lamps in various color combinations are anticipated to propel the China LED market over the forecasted period.   

Key Market Segmentation:

The report has segmented the market into the following categories:

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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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.

This release was published on openPR.