According to SPER Market Research, the Global LED Lighting Market is predicted to grow most rapidly in emerging economies because, in both residential and commercial applications, LED lighting has surpassed the purchase of fluorescent lighting, and in the upcoming years, the proportion of LED technology is anticipated to rise. The sales of LED bulbs and lighting fixtures must achieve their maximum levels internationally in the following years in order to continue on the path toward net-zero emissions. As one of the main development factors for the LED lighting industry, this is anticipated to hasten the adoption of LED lighting technology in the upcoming years.
The coronavirus pandemic had a substantial influence on the world economy, including travel and labor restrictions, supply chain and industrial disruptions, and a fall in demand and consumer expenditure in a variety of industries.
Global LED Lighting Market Overview (2022-2030)
Forecast CAGR (2022-2030): 10.4%.
Forecast Market Size (2030):166.17 billion.
The coronavirus pandemic had a substantial influence on the world economy, including travel and labor restrictions, supply chain and industrial disruptions, and a fall in demand and consumer expenditure in a variety of industries. It is anticipated that a sharp fall in infrastructure installation and construction projects would stifle the growth of the LED industry in the residential, commercial, and industrial sectors.
Impact of COVID-19 on the Global LED Lighting Market
The coronavirus pandemic had a significant impact on the world economy, causing travel and labor restrictions, supply chain and manufacturing disruptions, and a decline in demand and consumer spending across a variety of industries. It is anticipated that a sharp decline in infrastructure installation and development projects will stifle the growth of the LED sector in the residential, commercial, and industrial verticals.
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Global LED Lighting Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type:
- T-type, Others.
- New, Retrofit.
- High-Power LED.
- Lower-Power LED.
By Sales Channel:
- Direct Sales.
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Global LED Lighting Market Key Players:
The Global LED Lighting Market study provides market data by the competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Acuity Brands, Cree Inc., ever light Electronics Co. Ltd., General Electric Company, Hubbell Lighting, Kimonolike Philips N.V., LG Innated Co. Ltd., Lumens Co. Ltd., Lummi Lads Holding B.V., Nichia Corporation, Osram Licht AG, Savant Systems, Seoul Semiconductor Co. Ltd., Signify Holding.
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Anthony tone Business Consultant – U.S.A.