0 items USD 0.00LED Lights Market Analysis and Top Manufacturers
The global LED lighting market is set to grow with maturing light culture. The lighting market is experiencing a shift from conventional lighting to LED lighting with the easy availability of LEDs in compact form, thereby has created a billion-dollar market.
The lighting industry is always driven by social and market forces. With the technology shift, LED lighting has emerged as a replacement for legacy lighting: LED is available in both cold and warm colors, temperature varieties, is color-tuneable, and can be dimmed.听
LED Lighting Market Analysis
At present, LED lighting technology has matured, and the global LED lighting market is rapidly expanding. It has expanded from US$1.750 billion in 2009 to US$61.214 billion in 2019, with an average annual compound growth rate of 42.69%. From the perspective of manufacturers, the LED lighting industry is widely distributed in North America, Asia, and Europe. Companies from Western Europe, Japan, and the United States lead the world and occupy the commanding heights of the industry. From the perspective of consumption, Europe and the Asia-Pacific region will occupy the world's largest market share. The Asia-Pacific region and Latin America are expected to be the fastest-growing markets. These markets will be driven by healthy economic growth trends, strong industrialization and urbanization, and awareness of the importance of improving energy efficiency in achieving carbon emission reduction targets.
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Source:听LED-Lighting world market: European Commission and MarketResearchReports.com
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The future growth of the LED lighting market will come from expanded applications in traffic lights, commercial and residential lighting, factory and warehouse lighting, healthcare, and hospital lighting. Among them, residential home lighting accounted for the highest proportion of about 38%, and office, outdoor, store, hotel, industrial and construction accounted for 16%, 13%, 11%, 8%, 7% , and 6% respectively.
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Global LED Lighting Solutions market report provides the details about industry overview, industry chain, market size (sales, revenue, and growth rate), gross margin, major manufacturers, development trends and forecast.
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Top 5 LED Manufacturers
- Lumileds Lighting
- Cree, Inc.
- OSRAM
- Daktronics
- GE Lighting
Company in Focus:听Cree, Inc.
Cree's LED Products segment includes LED chips and LED components. LED chip products include blue and green LED chips based on GaN and related materials. The company's LED components include a range of packaged LED products, from our 齿尝补尘辫庐 and J Series庐 LED components and LED modules for lighting applications to our high-brightness LED components. The company's revenue for FY 2020 was $903.9 million.
Source: Annual Report
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About The Author
Sudeep Chakravarty
