Press Release

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global LED Market to Reach US$ 128 Billion by 2025.

According to a new report by Expert Market Research, the global LED market reached a value of US$ 75.3 Billion in 2019 and is further expected to reach US$ 128 Billion by 2025.

LEDs represent electronic components that can convert electric energy into light. They have today gained prominence across all the regions on account of their potential advantages over other lighting sources such as incandescent bulbs and CFLs. LEDs stay much cooler than incandescent lights, reducing the risk of combustion or burns. As they are made with epoxy lenses, they are highly resistant to breakage. Besides this, they are energy-efficient, long-lasting and easy to install.

With technological advancements, manufacturing efficiency and decline in the prices, the global market for LEDs has witnessed a strong growth over a period of time. According to a new report by Expert Market Research, the global LED market reached a value of US$ 75.3 Billion in 2019 and is further expected to reach US$ 128 Billion by 2024. Owing to the growing environmental concerns and increasing expenses on electricity generation, governments’ regulations have become more stringent, encouraging the penetration of energy-efficient light sources like LED lights. Moreover, a rising demand for LEDs in high-tech products such as flat TVs, digital cameras, smart phones and automotives has also propelled the growth aspects of the LED market.

                                                       Global LED Market

 

Key findings from the report:

  • The two lighting products are LED lamps and modules, and LED fixtures.
  • The major end-uses of LED lights are in retrofit, retail and hospitality, outdoor, office, architectural, homes, industry and others. In 2018, retrofit was the biggest end-use sector with a share of more than a third of the global market. It was followed by retail and hospitality, outdoor, offices, architectural, homes, industry and others.
  • Region-wise, China dominated the market with a share of more than one-fifth of the global LED market. It was followed by Europe, North America, Asia-Pacific, Japan, Middle East & Africa and Latin America.
  • Being fragmented in nature, the global LED market is surrounded by a number of small and big players. In 2019, Nichia was the biggest player in the market with a share of nearly a fifth of the total LED sales. It was followed by Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Epistar, Seoul Semiconductor, Cree, Lumileds, Mulinsen and others.

Expert Market Research has analysed the global LED market according to lighting product, end-use, major regions and top players:

Market breakup by Lighting Product

  • LED Lamps and Modules
  • LED Fixtures

Market breakup by End-use

  • Retrofit
  • Retail and Hospitality
  • Outdoor
  • Office
  • Architectural
  • Homes
  • Industry
  • Others

Market breakup by Region

  • China
  • Europe
  • North America
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Top players

  • Nichia
  • Osram
  • Samsung Electronics
  • Everlight Electronics
  • LG Innotek
  • Epistar
  • Seoul Semiconductor
  • Cree
  • Lumileds
  • Mulinsen

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global Chip Mounter Market Report and Forecast 2020-2025


Global Microdisplay Market Report and Forecast 2020-2025


Global Medium Format Camera Market Report and Forecast 2020-2025


Global Ice Maker Market Report and Forecast 2020-2025


Global Digital Camera Market Report and Forecast 2020-2025


NEWSLETTER