Press release
Demand for Efficient Lighting Solutions Stokes Demand for LED Lighting Globally
ALBANY, New York, July 24, 2017: The demand for energy-efficient LED lighting is rising at an impressive pace. As governments worldwide offer incentives to encourage the use of energy-efficient lighting, aimed at inching closer to the goal of energy saving, the demand for LED lighting will pick pace. MarketResesearchReports.biz has added a report, titled “Global LED Lighting Market (2017-2021 Edition),” which covers the various factors supporting the market’s growth over the years. The report primarily focuses on gauging the market’s potential growth trajectory between 2017 and 2021.
Considering the exhaustive information included, the report is aimed at offering a holistic overview of the global LED lighting market to its readers. Among various information it provides, growth drivers and restraints influencing the market’s trajectory are studied in great detail. Besides this potential opportunities are identified via industry-leading research methods. To shed light further, the report has segmented the global LED lighting market based on various parameters. Forecasts for each of the segments are provided in the report, thus recommending market players to determine well-researched business strategies.
The augmented demand for energy-efficient LED bulbs has impelled adoption of LED lights across diverse industries. Over the course of the report’s forecast period, soaring energy costs will compel governments and consumers, alike to explore options of energy saving, thereby encouraging them to use power-saving lighting solutions. Given the scenario, the global LED lighting market is expected to gain increased impetus in the coming years.
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Based on type, the global LED lighting solution market can be bifurcated into new market and replacement market. Of these, the replacement segment holds dominance in the overall market and is expected to remain strong until the end of the forecast period. The high penetration of lighting technologies such as HID and LFL warrant high CAGR to the replacement segment. A more in-depth information on this is provided in the report, which is aimed at enabling stakeholder gain a better perspective about the prevailing trends in the global LED lighting market.
Regionally, North America, Asia Pacific, and Europe constitute the key segments within the global LED lighting market. Among these regions, Asia Pacific is forecast to exhibit highly lucrative opportunities for the market players. A large number of LED lighting manufacturing units are domiciled in Asia Pacific, which has helped the region gain pace in the last few years. Besides this, growth witnessed in North America and Europe is expected to remain promising as well.
Besides identifying the most lucrative pockets within the global LED lighting market. The report also profiles some of the leading players operating therein. Companies such as Osram, Phillips, and Cree are identified as key market vendors. Besides these, the report profiles companies such as Lite-On Technology, Everlight Electronics, Toyoda Gosei, and others.
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