Architectural LED products are attractive lighting system,
which offers inventive pliability to lighting designer, which they could only
wish for. Architectural LED products have very wide application range; they are
used for illuminating monuments, museums, bridges and residence with artistic
integration of light source. Architectural LED products are stunning lighting
systems and at the same time, they are cost effective too. In terms of energy
saving, architectural LED products are way better than traditional lighting system.
Apart from that, architectural LED products are available in market in
different shapes and sizes and can be installed easily in indoor and outdoor
places.
Market
Size & Forecast
Global architectural LED market is projected to expand at a
robust compound annual growth (CAGR) rate of 18.2% over the forecast period
2017-2024. In past few years, the demand for architectural LED from almost all
sectors including residential and commercial sector have seen remarkable rise.
The global market of architectural LED products stood at a valuation of about
USD 3.9 billion, by the end of 2016 and it is anticipated to rise in near
future. By the end of forecast period, architectural LED market is
expected to reach at a valuation of about USD 10 million and is projected to
maintain the same positive rise in demand for architectural LED products over
the forecast period.
On the basis of products, the architectural LED products
market is segmented as solar and conventional architectural LED products.
Conventional architectural products itself is dominating the market with market
share about 92.9% and is projected to grow at a CAGR of 17.3% over the forecast
year. In terms of volume, the global market of solar architecture LED product
stood at 9.4%, in year 2016.
Geographically, global market of architectural LED products
is segmented into five regions; these include Europe, Asia Pacific, North
America, Latin America and Middle East & Africa. Among these regions, Asia
Pacific region is dominating the global architectural market with a share about
48% by the end of 2016. With rise in adoption of architectural LED products in
Asia Pacific region, it is analyzed to remain dominant over the forecast
period. Rising demand for architectural LED products in North America and
Europe region is anticipated to foster the growth of these regions over the
forecast period.
Market
Segmentation
Our-in depth analysis of the global architectural LED
products market includes the following segments:
By Product
Type
·
Solar
·
Conventional
o Strip
& Linear
o Lamp
By
Application
·
Cove Lighting
·
Wall Washing
·
In Ground
·
Backlight
·
Others
By End
User
·
Residential
·
Commercial
o Retail
o IT
& Telecom
o BFSI
o Media
& Entertainment
o Healthcare
o Others
Growth
Drivers & Challenges
Attractiveness, flexible installation, significant cost
reduction and consistent brightness & uniformity are some of the major
drivers which have driven the global architectural LED market. The
architectural LED products can be very attractive and at same time they can be
proved as a cost effective lighting products too. These factors have propelled
the demand for architectural LED products and global architectural LED products
market is projected to witness a robust growth in near future. Apart from that,
the governments of many countries such as China, USA, and Thailand etc. have
been promoting architectural LED products for its features such as affordable
price and low carbon emission. In addition to this, the government in countries
such as China, USA, and Malaysia etc. has banned the adoption of conventional
lighting system due to their high carbon emission and encouraging construction
companies to deploy architectural LED products. Further, these factors are
driving the growth of architectural LED products market.
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
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
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
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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