Lighting Products market: Introduction
Transparency Market Research delivers key insights on the global lighting products market. In terms of revenue, the global lighting products market is estimated to expand at a CAGR of 3.7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global lighting products market.
The global lighting products market is broadly affected by several factors, including end-use market for lighting products such as residential, commercial, industrial, outdoor, offices, etc.
Lighting Products Market: Dynamics
The global lighting products market is witnessing rapid transformation driven by technological changes. The push for energy-efficiency in many parts of the globe has led to regulations aimed at phasing out older lighting technologies.
The shift toward LED and connecting lights is driving the Lighting products market. The decline in LED prices has made a huge impact on the lighting product market. The significant investment on LED chips and packages has also enhanced the penetration of LED products in the lighting products market.
In terms of application, the general lighting segment accounted for a notable share among all other segments, owing to higher demand and volume of lighting products in the segment. Various technological advancements in lighting products such as fixtures, drivers, and power supplies have made lighting products more reliable and efficient.
Lighting Products Market: Prominent Regions
In terms of region, the global market has been dominated by Asia Pacific. The region is expected to continue its dominance over the next few years, owing to a rise in the demand for lighting products in nations such as China, which is also major manufacturer and supplier of the lighting products. The increasing demand, durability, and energy efficiency of lighting product systems has further propelled their demand in developing nations of Asia Pacific such as India.
Lighting Products Market: Key Players
Key players operating in the global lighting products market are GE Lighting Philips NV., Panasonic Corporation, OSRAM Licht AG, Schneider Electric, Cree INC., Citizen Electronics, Lumerica, Havells India Pvt., LEDtronics, Inc., Patriot LED, and Acuity Brands.
Global Lighting Products Market: Segmentation
Lighting Products Market, by Type
Lighting Products Market, by Application
Lighting Products Market, by End-use
Lighting Products Market, by Region
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