Led Lighting Industry Market Research Report: Analysis | Leading Players, Industry Updates, Future Growth, Business Prospects 2020-2030
Global LED Lighting Market: Snapshot
Growing inclination among worldwide population toward the use of energy-efficient LEDs is estimated to boost the demand opportunities in the global LED lighting market during the assessment period of 2020 to 2030.
LED refers to light-emitting diode. LED lighting products are known for generating light around 90% more proficiently than other light bulbs including incandescent and fluorescent lights. Approximately 95% of the energy in LEDs is converted into light and just 5% is wasted in the form of heat. Owing to this factor, major population across the globe is inclined toward the use of more efficient lighting option, LED lighting.
TMR’s upcoming research report on the LED lighting market delivers important data on growth opportunities, drivers, restraints, and challenges in this market. Apart from this, the study provides dependable data on shares, revenues, and volume of the market for LED lighting. Thus, the report works as a helpful tool to gain important insights of the LED lighting market for 2020–2030.
The study performs segmentation of the global LED lighting market based on several key factors including product type, application, distribution channel, and region. Based on product type, the market for LED lighting is bifurcated into lamps and lumanaires.
Global LED Lighting Market: Growth Dynamics
The global LED lighting market is gaining promising growth avenues on the back of plethora of applications of products in it. LED lighting is used in various indoor applications such as industrial, commercial, residential, and government purposes. Apart from this, they are increasingly used in numerous outdoor places such as highways, roadways, public places, and for agricultural activities. All these applications are indicative of promising demand opportunities for vendors operating in the global LED lighting market.
At present, around 18–40% of electricity is utilized in commercial premises and 10% of electricity used in households. Thus, with increased number of households as well as commercial premises across the globe is predicted to intensify the requirement of energy saving. Growing adoption of energy-efficient lighting can help in decreasing the global electricity demand for lighting by approximately 30–40% in 2030.
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Global LED Lighting Market: Competitive Analysis
The global LED lighting market experiences existence of numerous international-level players. As a result, the competitive landscape of the market for LED lighting is highly intense. To sustain in this scenario, the enterprises operating in this market are using diverse organic as well as inorganic strategies.
Major vendors in the market for LED lighting are focused on strengthening their customer base. To achieve this aim, they are offering superior quality products. Apart from this, many industry leaders are concentrating on their regional expansion. As a result, they are increasing interest in collaborations, mergers, acquisitions, joint ventures, and partnership agreements. All these activities are supporting in the rapid expansion of the global LED lighting market.
The list of key players in the global LED lighting market includes:
- Dialight PLC
- Heliospectra AB
- General Electric Company (Savant Systems Inc.)
- Eaton Corporation
- OSRAM GmbH
Global LED Lighting Market: Regional Assessment
On regional front, the LED lighting market shows presence in many regions including Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among all geographical regions, Latin America is estimated to gain leading position in the market for LED lighting during the assessment period of 2020 to 2030. This growth is attributed to increased urban population, thereby growing demand for energy-efficient options in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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