Global LED Lighting Market to 2026 – Featuring Acuity Brands, Osram and Seoul Semiconductor Among Others – GlobeNewswire
Dublin, March 15, 2022 (GLOBE NEWSWIRE) — The “Global LED Lighting Market, By Type (LED Bulbs and Lamps, Batten Lights, Downlights, Others), By Application (Outdoor Lighting and Indoor Lighting), By Installation Type, By End-Use, By Distribution Channel, By Region, Competition Forecast and Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
The Global LED Lighting Market valued at USD66.83 billion in 2020 and is projected to grow with a CAGR of 3.73% to reach USD81.09 billion by 2026. An increase in demand for the energy-efficient lighting system, reduction in LED product costs, and ongoing smart city construction projects going around the globe are the major factors driving the growth of the Global LED Lighting Market in the forecast period.
High-end investments made by leading authorities in research and development activities to find innovative solutions to lower the cost of LED lighting are creating lucrative opportunities for the growth of the Global LED Lighting Market. Organizations install LED lighting in their office premises to reduce electricity costs as LED lights are highly energy-efficient and consume less energy to provide maximum output.
The growing disposable income of consumers enables them to afford a quality lifestyle and upgrade to adopt the latest technologies for their indoor lighting. Growing internet penetration and proliferation of smart devices and the rise in awareness about using smart connected lighting systems that consumers can control using mobile devices from remote locations is expected to create enormous potential for the Global LED Lighting Market in the forecast period. However, lack of consumer awareness and using LED with incandescent fixtures may hinder the growth of the Global LED Lighting Market in the forecast period.
The Global LED Lighting Market can be segmented based on Type, Application, Installation type, End-use, Distribution channel, and region. Based on application, the market is bifurcated into indoor lighting and outdoor lighting. The outdoor lighting is expected to hold the largest market share in the forecast period. The rise in the number of product launches, product innovations, and the increased expenditure by the government on improving the outdoor lighting system is driving the demand for outdoor lighting all over the globe.
Signify N.V, Acuity Brands Inc., Osram GmBH, Seoul Semiconductor Co., Ltd., Zumtobel Lighting GmbH, General Electric Co, Fagerhult Group, Hubbell Incorporated, Everlight Electronics Co Ltd., Foshan Electrical & Lighting Co Ltd, Endo Lighting Corp, LSI Industries Inc., FW Thorpe Plc, Havells India Ltd, Dialight plc are the major players operating in the Global LED Lighting Market.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021E
- Forecast Period: 2022F-2026F
Objective of the Study:
- To analyze the historical growth in the market size of the Global LED Lighting Market from 2016 to 2020.
- To estimate and forecast the market size of the Global LED Lighting Market from 2021 to 2026F and growth rate until 2026F.
- To classify and forecast the Global LED Lighting Market based on type, application, installation type, end-use, distribution channel, competitional landscape, and regional distribution.
- To identify the dominant region or segment in the Global LED Lighting Market.
- To identify drivers and challenges for the Global LED Lighting Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global LED Lighting Market.
- To identify and analyze the profiles of leading players operating in the Global LED Lighting Market.
- To identify key …….