Market Overview
The forecast report of the global LED Lighting Market indicates that this industry is expected to grow at a CAGR of 15% during the period 2022 to2028. The expected LED Lighting Market Revenue during the forecast period is approximately USD 1,90,000 million by 2028.
The demand for LED lights is increasing because of their long life, high efficiency, high brightness, and reliable features. These lights are also safe to be used as they do not emit any type of harmful gases. LED lights are cost-efficient and reliable to be used in commercial as well as residential places.
During the COVID-19 pandemic, there was a temporary halt in the growth of the LED Lighting Industry but the market has already revived and is expected to grow at a steady pace in the coming years.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2860
Market Segmentation
Based on the installation type, the market has been segmented into new installation and retrofit.
Based on the product type, the market has been segmented into luminaries and lamps. The lamps segment is segmented into bulb lamps, spot lamps, A-lamps, and T-lamps. The luminaires segment is segmented into ceiling luminaires, downlight luminaires, strip luminaires, and strip lights.
Based on the end-users, the market has been segmented into indoor lighting and outdoor lighting. The indoor lighting segment is segmented into commercial, residential, industrial, and others. The outdoor lighting segment is segmented into public places, highways & roadways, architecture, and others.
The market has been segmented based on the Distribution-Channel, into store-based and non-store-based.
Based on the region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (ROW).
Regional Classification
During the historic forecast period, Asia-Pacific held the greatest market share. During the projected period, the market is expected to grow at the fastest rate. During the historic projected period, North America was the second-largest market. In Asia-Pacific, the LED lighting market is expected to grow at the quickest rate. Demand for energy-efficient lighting solutions is increasing, and the region's focus on LED standardization is becoming more intense. Demand for LED Lighting Market solutions is expected to increase as a result of these factors. Leading LED lighting companies in the US and the UK are extending their businesses in Asia-Pacific as well. Furthermore, government environmental policies and the installation of new lighting systems are major considerations in Asia-Pacific rising countries.
Get Complete Report @ https://www.marketresearchfuture.com/reports/led-lighting-market-2860
Industry News
The major key players in the market are GE Lighting, Philips Lighting Holding B.V, Samsun, Osram Licht AG, and Cooper Lighting Solutions. These companies place a premium on innovation and, as a result, invest heavily in R&D to offer a cost-effective product portfolio. There have been recent mergers and acquisitions among the major players, a tactic used by businesses to expand their consumer base. Due to the rise in the adoption of mobile applications to track spending, the worldwide LED Lighting Market is expected to develop significantly over the forecast period.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
0 Comments
If u have any doubts, Please let me know