+1-888-308-5802     
News Contact Us

Commercial LED Lighting Market is driven by energy efficiency and enhanced controllability

Author : Ronak Bora | Published Date : 2019-03-27 

The commercial LED lighting market is primarily driven by energy efficiency and enhanced controllability over the forecast period. The consumers are willing to pay for a new lighting fixture for the first installation. For residential and office lighting sectors, the average cost increases to 30% and 39% respectively. However, for all application areas, the overall cost increases to around 30%. This transformational provides several opportunities across OEM’s, but also presents huge strategic challenges to top industry players in terms of business model and technology change.

Request for an in-depth table of contents for this report @

https://www.gminsights.com/request-toc/upcoming/288

In 2014, the largest applications for LED lighting market included residential, architectural, retail and outdoor. Among all the applications, architectural sector leads the industry by gaining maximum percentage of shares. Others application areas are also expected to grow at a swift rate over the forecast period. The fastest growing applications are industrial, hospitality and office. Industrial sector is likely to grow from a low base, while adoption in the large office space would amplify outside of the headquarters buildings that were more of the architectural adopters.

LED lighting market was valued around USD 16 billion in 2014 and is expected to grow at CAGR of over 28% from 2016 to 2023. It is anticipated to reach over USD 45 billion over the forecast period. The industry is likely to achieve share of around 84% of lumen-hour market sales in the general illumination market by 2030.

Make an inquiry for buying this report @

https://www.gminsights.com/inquiry-before-buying/288

In 2014, UK LED lighting market was anticipated to be valued over USD 400 million at manufacturers’ selling prices (MSP); this includes all finished products, non-domestic and domestic used within building and construction sectors.

Key application markets include industrial lighting, outdoor lighting, architectural lighting and commercial lighting. The industry can be further bifurcated on the basis of region which includes North America, Europe, Asia Pacific, Latin America and MEA. Asia Pacific LED lighting market developed relatively earlier and accounted for over 40% of the overall share in 2014. China LED lighting market is expected to grow at a CAGR of over 35% from 2016 to 2023.

Browse Full Report: https://www.gminsights.com/industry-analysis/led-lighting-market

Key manufacturers for the global LED lighting market share include Cree, Epistar, GE Lighting Solutions, Everlight Electronics, GYLED, Lite-On Technology, Mitsubishi, Osram, Philips, Lighting Science Group, Solid State Lighting Systems, Samsung, Avances Lumínicos Plus S.A. de, Black Dog LED, Bridgelux, Litecontrol, Lowcled and Toshiba among others.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Space Launch Services Market in Satellite Payload Segment is Excepted to Observe High Growth Rate Over the Coming Years

Published Date: 2019-04-18         Author: Ronak Bora

The Space Launch Services Market report add detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the industry based on product segment, technology, end user ... Read More

Commercial Aircraft MRO Market Outlook | Drivers, Restraint & Future Growth Analysis by 2024

Published Date: 2019-04-18         Author: Ronak Bora

Global Market Insights, Inc. present the report on Commercial Aircraft MRO Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for th... Read More

Structured Cabling Market in Software Technologies Will Grow at A CAGR of Over 14% Over 2019 to 2025

Published Date: 2019-04-18         Author: Ronak Bora

The software technologies are expected to witness a high adoption in the structured cabling market and will grow at a CAGR of over 14% over the forecast timespan owing to the rise in demand for effective tools that will help to manage, maintain, and implement the cabling systems in IT environment. T... Read More

© 2019 Fractovia. All Rights Reserved