LED Lighting Market: Global Size, Share, Trend, Manufacturers & Forecast to 2019-2024

Blog post   •   Aug 23, 2019 05:52 EDT

LEDs or Light Emitting Diodes work on the principle of electroluminescence and use semiconductors to produce light. LEDs were commercially used for the first time during 1960s as indicators on equipment, and since then their applications have grown by leaps and bounds. Today, they have uses as diverse as backlight sources for displays and automotive lighting. The lighting sector, in particular, has seen tremendous change since the arrival of LED based lights. LED lights have been rapidly replacing the conventional incandescent, fluorescent and halogen lights as a result of the various advantages they offer.

LED lights provide the most lumens per watts, thus consuming the least amount of energy as compared to other lighting sources. An average LED light offers a lifespan of around 50,000 hours, which converts to nearly 20 years of regular 8 hour use. This lifespan is more than 40 times of the average life of incandescent lights and more than 6 times than that of fluorescent lights. Apart from consuming less energy, LED lights do not contain any harmful elements such as mercury in CFLs. They also provide more colour varieties, better brightness control and light up faster than traditional lights. The most unique part of LED lights is that they can be designed in any shape or pattern the user desires.

led lighting market

As a result of the numerous advantages of LED lights they are being used in every segment of the lighting sector ranging from residential to architectural lighting. The biggest part of their production goes in to retrofitting and as efficient lighting solutions in new green buildings. Moreover, the governments of a number of countries such as the United States, Japan, China, Brazil, etc. have banned the manufacturing of energy consuming light sources in order to manage the use of energy resources. Thus, increasing the demand for LED lights.

Source- Read More: Despite Strong Growth, Challenges Still Remain for the LED Lighting Market