Press release
Global LED Market to Reach US$ 101 Billion by 2022
With technological advancements, manufacturing efficiency and decline in the prices, the global market for LEDs has witnessed a strong growth over a period of time. According to a new report by Expert Market Research, the global LED market reached a value of US$ 53 Billion in 2016 and is further expected to reach US$ 101 Billion by 2022. Owing to the growing environmental concerns and increasing expenses on electricity generation, governments’ regulations have become more stringent, encouraging the penetration of energy-efficient light sources like LED lights. Moreover, a rising demand for LEDs in high-tech products such as flat TVs, digital cameras, smart phones and automotives has also propelled the growth aspects of the LED market.
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Key findings from the report:
The two lighting products are LED lamps and modules, and LED fixtures.
The major end-uses of LED lights are in retrofit, retail and hospitality, outdoor, office, architectural, homes, industry and others. In 2016, retrofit was the biggest end-use sector with a share of more than a third of the global market. It was followed by retail and hospitality, outdoor, offices, architectural, homes, industry and others.
Region-wise, China dominated the market with a share of more than one-fifth of the global LED market. It was followed by Europe, North America, Asia-Pacific, Japan, Middle East & Africa and Latin America.
Being fragmented in nature, the global LED market is surrounded by a number of small and big players. In 2016, Nichia was the biggest player in the market with a share of nearly a fifth of the total LED sales. It was followed by Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Epistar, Seoul Semiconductor, Cree, Lumileds, Mulinsen and others.
Browse full report with TOC @ http://www.expertmarketresearch.com/reports/led-market
Expert Market Research has analysed the global LED market according to lighting product, end-use, major regions and top players:
Market breakup by Lighting Product
- LED Lamps and Modules
- LED Fixtures
Market breakup by End-use
- Retrofit
- Retail and Hospitality
- Outdoor
- Office
- Architectural
- Homes
- Industry
- Others
Market breakup by Region
- China
- Europe
- North America
- Asia Pacific
- Japan
- Middle East and Africa
- Latin America
Top players
- Nichia
- Osram
- Samsung Electronics
- Everlight Electronics
- LG Innotek
- Epistar
- Seoul Semiconductor
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