“Architectural
LED Products Market: Global Demand Analysis & Opportunity Outlook 2024”
The global architectural LED
products market is segmented into product type such as solar and conventional.
Further, conventional architectural LED products segment is sub-segmented into
strip & linear and lamp. Among these segments, solar segment is expected to
experiences considerable demand in the market of architectural LED products. The
growth of this segment can be attributed to rising utilization of solar energy
and a number of advantages offered by solar LED products such as self-contained,
zero electricity bill and minimal ongoing costs.
Global architectural LED
products market is expected to register a CAGR of 18.2% over the forecast period.
Moreover, the global architectural LED products market was
valued at USD 3.9 Billion in 2016 and is projected to reach at revenue of USD 10.2
Billion by the end of forecast period. Rising adoption of architectural LED
products in commercial and architectural applications is a key factor which is
anticipated to foster the growth of this segment during the forecast period.
The commercial segment by end-user
is likely to grow at maximum pace during the forecast period. Rising urbanization
in emerging countries and increasing number of buildings, malls and hotels across
the globe are likely to be the dynamic factors behind the growth of this
segment during the forecast period.
Growing
constructional Activities
The world is witnessing highly growing construction
activities and high spending by owners on renovation, interior and outdoor
designs of new constructions. Further, growing demand for architectural LED
lighting solutions in pathways, bikeways, subways, parks and other indoor &
outdoor applications is believed to foster the growth of global architectural
LED products market over the forecast period.
Growing Energy
Concerns and government initiatives
Rising electricity prices is a
major factor which has fueled the demand for high energy efficient lighting
products in residential and commercial places. Further, a number of advantages
offered by architectural LED products such as cost
effective, energy efficient, solar powered, smile to use and compact design are
increasing the adoption of architectural LED products in residential and
commercial applications. Further, favorable government’s initiatives to promote
LED products and solar powered products due to their low carbon emission are
also fostering the growth of global architectural LED products market.
Although, presence of low cost
lighting solutions in the market some is a key factors that is likely to
inhibit the growth of the architectural LED products market in the near future.
The
report titled “Architectural LED Products
Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of
the global architectural LED products market in terms of market segmentation by
product type, by application, by end-user type and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global architectural
LED products market which includes company profiling of Copper Industries PLC, Philips Lumileds Lighting Company, Osram Licht
AG, Epistar Corporation, Cree Inc., Verbatim Ltd, GE Lighting Solutions,
Samsung Electronics Co. Ltd., Toshiba Lighting & Technology Corp. and Galaxia
Electronics Co. Ltd. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global architectural LED products market that will
help industry consultants, equipment manufacturers, existing players searching
for expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
About Research
Nester
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decision so as to avoid future uncertainties.
To know
more about this research, kindly visit: https://www.researchnester.com/reports/architectural-led-products-market-global-demand-analysis-opportunity-outlook-2024/351
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
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