MarketResearchReports.biz has recently added the “Global Light-Emitting Diode Lighting Module Market 2017-2021” report to its offering. Awareness about the exhaustion of non-renewable sources of energy, the hazards of global warming, and the more imperative need to conserve energy have popularized the demand for light-emitting diode (LED) lighting in recent times. During the forecast period 2017-2021, the market for light-emitting diode lighting module is predicted to grow at a favorable CAGR of 19.95%.
The report analyzes key factors such as market trends, growth drivers, opportunities, and challenges, together with an in-depth evaluation of the LED lighting module market landscape, market attractiveness, and major companies. The strengths, weaknesses, business strategies, and market shares of these companies are also covered. Some of the chief exhibits include discussions on cost comparison for LEDs and incandescent bulbs, comparison of prices of connected bulbs from different manufacturers, level of urbanization in each continent, and LED penetration in smart homes.
Governments across the world have been encouraging the manufacture and usage of LED lighting solutions, due to heightened awareness about conservation of energy. Lighting applications were responsible for a large share in the global electricity consumption in 2016. Therefore, numerous countries have come up with tax incentive programs and subsidies in order to curb the usage of unproductive lighting sources and replace them with efficient ones. These factors have been functioning as the major drivers for the LED lighting module market. On the other hand, a lack of standardization is expected to be a major restraint faced by the global LED lighting module market.
In the report, the market has been studied based on application, end user, and geography. The key application segments include lamps and luminaries. Of these, luminaries are projected to be the leading segment owing to their longer lifespan and greater efficiency. Luminaries such as downlights have grown popular among residential, retail, and office sectors, while troffers, too are extensively used in sectors such as industrial, healthcare, office, and retail. Based on end users, the global market for LED lighting modules is categorized into industrial, hospitality, retail, outdoor, office, residential, and architectural segments.
The geographical analysis includes segments such as the Americas, APAC, and EMEA. It was APAC that claimed the largest market share in 2015 and is expected to hold its leading position during the following four years. The industrial, retail, and office sectors have been showing great demand in the APAC region. Emerging economies such as South Korea, China, and India are witnessing large-scale urbanization, with an emphasis on infrastructural development. This will provide a furtherance to the light-emitting diode lighting module market in these regions.
The competition between international and regional market players will heighten due to the rising number of product extensions and technological innovations in the field. The key vendors discussed in the report on the global light-emitting diode lighting module market are Philips, GE Lighting, Acuity Brands, Cree, LG Innotek, OSRAM, Advanced Lighting Technology, Cooper Lighting, and Bridgelux.
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