Global LED Lighting Market – Top Key Players are Cooper Industries Plc, Osram Opto, Digital LumensInc., Philips Electronics N.V and GE lightings – ZMR Blog
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Global LED Lighting Market – Top Key Players are Cooper Industries Plc, Osram Opto, Digital LumensInc., Philips Electronics N.V and GE lightings

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 coming years. Continuous new product introduction by manufacturers such as Phillips and GE with innovative technology are attracting the customer attention globally.  However, the high production cost is expected to have an adverse impact on LED lighting market. Nonetheless, screen and display backlighting market development are likely to open new doors for the LED lighting demand.

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As per analyst at Zion Market Research, 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.

LED Lighting Market Segment by Applications considering Consumption Growth Rate and Market Share:

  • Residential Application
  • Architectural Application 
  • Outdoor Application

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 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 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.

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Major Key Players of Hexagonal-Boron Nitride Powder (h-BN) Market Report:

  • JBS SA (US)
  • Pilgrims Pride Corp.(US)
  • Sysco Corp. (US)
  • Hormel Food (US)
  • Tyson Foods Inc. (US)
  • Keystone Foods (US)
  • Sanderson farms (US)

On the other hand, the high production price is likely to have an adverse affect on LED lighting market. Nevertheless, display and screen backlighting market development are expected to unlock new doors for the demand of LED lighting market.

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 LED lightning market. The functional application comprises building and landscaping facades.

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Europe surfaced as ruling area for the LED lighting market in 2016 and added up for more than 31% of 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 tremendous requirement from residential application sector.

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