Global Industry Trends in LED Lighting Market Share Growing Speedily With 13% CAGR, to Reach $54.28 Bn By 2022

According to the report, the global LED lighting market added up for USD 26.09 Billion in 2016 and is likely to cross USD 54.28 Billion by end of 2022, developing at a CAGR of almost 13% from 2017 to 2022.

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New York, NY, July 26, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “LED Lighting Market for Residential, Architectural and Outdoor Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”.

According to the report, the global LED lighting market added up for USD 26.09 Billion in 2016 and is likely to cross USD 54.28 Billion by end of 2022, developing at a CAGR of almost 13% from 2017 to 2022.

Browse through 16 Tables & 15 Figures spread over 110 Pages and in-depth TOC on “Global LED Lighting Market Size & Trends: Industry Growth and Forecast, 2022”.

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Abstract

  • The report covers the forecast and analysis for the LED Lighting Market on a global and regional level.
  • The report includes the positive and negative factors that are influencing the growth of the market.
  • The revenue generated by the prominent industry players has been analyzed in the report.
  • The market numbers have been calculated using top-down and bottom-up approaches.
  • The LED Lighting Market has been analyzed using Porter’s Five Forces Analysis.
  • The market is segmented on the basis of agriculture type, software type, service type, solution type, and application type, which in turn is bifurcated on a regional level as well.
  • All the segments have been evaluated based on present and future trends.
  • The report deals with in-depth quantitative and qualitative analyses of the LED Lighting Market.
  • The report includes detailed company profiles of the prominent market players.

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The report analyzes and estimates the LED lighting market on a global and regional level. The report offers past data of 2016 along with estimation from 2017 to 2022 based on revenue (USD Billion). Assessment of market dynamics offers a brief thought about the drivers and restraints for the LED lighting market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the LED lighting market on a global level.

The report gives a transparent view on the LED lighting market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the LED lighting market. To understand the competitive landscape in the LED lighting market, an analysis of Porter’s Five Forces model for the LED lighting market has also been covered. The study also offers a market attractiveness analysis, wherein the application and regional segments are benchmarked based on their market size, growth rate and general attractiveness for the LED lighting market.

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LED is a semiconductor device that emits visible light when an electric current passes through it. The light is not mostly bright, but in most LEDs it is monochromatic, occurring at a single wavelength. The output from a LED can range from red (at a wavelength of around 700 nanometers) to blue-violet (near 400 nanometers).  LEDs are comprised of compound semiconductor materials which are made up of elements from group III and group V of the periodic table.

The LED lighting market is primarily driven by benefits offered by LED lights over incandescent and fluorescent lamps. In additions, the energy efficiency of LED lights, higher brightness, and longer life span are some of the major reason offers tremendous market opportunities for LED lighting in the coming years. Continuous new product introduction by manufacturers such as Phillips and GE with innovative technology are attracting customer attention globally.  However, the high production cost is expected to have an adverse impact on the LED lighting market. Nonetheless, screen and display backlighting market development are likely to open new doors for the LED lighting demand.

This review is based on a report by Zion Market Research, titled “LED Lighting Market for Residential, Architectural and Outdoor Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”- Report at http://www.zionmarketresearch.com/report/led-lighting-market

Advantages Provided By LED Lights Over Fluorescent And Incandescent Lamps To Be The Major Factor Boosting The Growth Of LED Lighting Market

According to analysts at Zion Market Research, the advantages provided by LED lights over fluorescent and incandescent lamps is the major factor boosting the growth of the LED lighting market. Apart from this, the higher brightness, energy efficiency, and longer life span of LED lights are some of the major factors that offer tremendous opportunities for the LED lighting market in years to come. Incessant new product launch by players such as GE and Philips along with other players with innovative tech are drawing the customer all over the world. For example, in August 2017, Kenall rolled out 6-inch modular downlights, which were developed to perform competently for years and are suitable for pharmaceutical processing, tightly sealed, and compatible for military installations.

Based on application, the LED lighting market is classified into residential, architectural and outdoor. Increasing the use of LED lighting for outdoor application such as roadways, traffic lights, tunnels, parking lots, and garages is expected to provide significant growth opportunities in the coming years. Residential application segment was the largest application for the market accounting for more than 40% share of total market 2016. The architectural application includes both functional and decorative lighting. Decorative LEDs are used to light up pools, gardens, fountains, and statues. The functional application includes landscaping and building facades.

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European And North American Regions Likely To Show Substantial Development In LED Lighting Market Due To Residential And Outdoor Application Sectors

Residential application sector ruled the LED lighting market and added up for more than 40% of LED lightening market share in 2016. Residential applications for LED lighting comprise lighting for bathrooms, dining rooms, kitchens, and hallways. Elevating employment of LED lighting for outdoor application such as parking lots, traffic lights, garages, roadways, and tunnels is likely to offer significant development opportunities to LED lightening market in years to come. The architectural application comprises both decorative as well as functional lighting. Decorative LEDs are employed to light up fountains, pools, statues, and gardens and thereby boosting the LED lighting market. The functional application comprises building and landscaping facades.

Europe surfaced as a ruling area for the LED lighting market in 2016 and added up for more than 31% of the market share. European and North American regions are likely to show substantial development in residential and outdoor application sectors, boosting the LED lighting market. LED lighting market has huge development opportunity in the up-and-coming markets of Asia Pacific owing to the tremendous requirement from residential application sector.

The LED Lighting market is dominated by some of the major players such as Cooper Industries Plc, Zumtobel AG, Osram Opto, Philips Electronics N.V., Toshiba Corporation, Cree Incorporation, Digital Lumens, Inc, and GE lightings. These players are claimed to drive the LED lighting market in the years to come.

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The global LED lighting market is segmented as follows:

By Application

  • Residential Application
  • Architectural Application 
  • Outdoor Application

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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