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Market Size

Global LED Panel Light Market Analysis, Share, Forecast: By Application: Retrofit, Retail and Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

LED Panel Light Market Size

The global LED panel light market size was around USD 25.18 billion in 2023. The market is further projected to grow at a CAGR of 14% over the forecast period of 2024-2032 to attain a value of USD 81.88 billion by 2032.

 

The LED panel light market is being driven by the rising environmental concern and the growing demand for eco-friendly products. The rapid technological advancement is further supporting the market growth globally. Retrofit, among other application segments, leads the market. The growth of the segment can be attributed to the increasing inclination of the masses towards the retrofitting of existing lighting fixtures with LED lights. These lighting solutions are extensively adopted across commercial spaces owing to their ability to start instantly, with no-restrike delays, in fast retrofitting situations. China is the leading market for LED panel light owing to the rapid urbanisation, strong growth of the economy, and the growing number of malls, hotels, and other commercial complexes in the country.

 

LED Panel Light Market Report Snapshots

LED Panel Light Market Size

LED Panel Light Market Analysis

LED Panel Light Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global LED Lighting Market Overview

    8.1    Key Industry Highlights
    8.2    Global LED Lighting Historical Market (2018-2023) 
    8.3    Global LED Lighting Market Forecast (2024-2032)
    8.4    Global LED Lighting Market by Product Type
        8.4.1    LED Lamps
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Modules
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Fixtures
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global LED Lighting Market by Application
    8.6    Global LED Lighting Market by Region
        8.6.1    North America
        8.6.2    Europe
        8.6.3    Asia Pacific
        8.6.4    Latin America
        8.6.5    Middle East and Africa
9    Global LED Panel Light Market Analysis
    9.1    Key Industry Highlights
    9.2    Global LED Panel Light Historical Market (2018-2023) 
    9.3    Global LED Panel Light Market Forecast (2024-2032)
    9.4    Global LED Panel Light Market by Application
        9.4.1    Retrofit
            9.4.1.1    Historical Trend (2018-2023)
            9.4.1.2    Forecast Trend (2024-2032)
        9.4.2    Retail and Hospitality
            9.4.2.1    Historical Trend (2018-2023)
            9.4.2.2    Forecast Trend (2024-2032)
        9.4.3    Outdoor
            9.4.3.1    Historical Trend (2018-2023)
            9.4.3.2    Forecast Trend (2024-2032)
        9.4.4    Offices
            9.4.4.1    Historical Trend (2018-2023)
            9.4.4.2    Forecast Trend (2024-2032)
        9.4.5    Architectural
            9.4.5.1    Historical Trend (2018-2023)
            9.4.5.2    Forecast Trend (2024-2032)
        9.4.6    Residential
            9.4.6.1    Historical Trend (2018-2023)
            9.4.6.2    Forecast Trend (2024-2032)
        9.4.7    Industrial
            9.4.7.1    Historical Trend (2018-2023)
            9.4.7.2    Forecast Trend (2024-2032)
        9.4.8    Others
    9.5    Global LED Panel Light Market by Region
        9.5.1    North America
        9.5.2    Europe
        9.5.3    Asia Pacific
        9.5.4    Latin America
        9.5.5    Middle East and Africa
10    Regional Analysis
    10.1    North America
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
        10.1.3    Breakup by Country
            10.1.3.1    United States of America 
            10.1.3.2    Canada
    10.2    Europe
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
        10.2.3    Breakup by Country
            10.2.3.1    United Kingdom
            10.2.3.2    Germany
            10.2.3.3    France
            10.2.3.4    Italy
            10.2.3.5    Others
    10.3    Asia Pacific
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
        10.3.3    Breakup by Country
            10.3.3.1    China
            10.3.3.2    Japan
            10.3.3.3    India
            10.3.3.4    ASEAN
            10.3.3.5    Australia
            10.3.3.6    Others
    10.4    Latin America
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
        10.4.3    Breakup by Country
            10.4.3.1    Brazil
            10.4.3.2    Argentina
            10.4.3.3    Mexico
            10.4.3.4    Others
    10.5    Middle East and Africa
        10.5.1    Historical Trend (2018-2023)
        10.5.2    Forecast Trend (2024-2032)
        10.5.3    Breakup by Country
            10.5.3.1    Saudi Arabia
            10.5.3.2    United Arab Emirates
            10.5.3.3    Nigeria
            10.5.3.4    South Africa
            10.5.3.5    Others
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyers Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    Key Indicators for Demand
    11.4    Key Indicators for Price
12    Value Chain Analysis
13    Manufacturing Process

    13.1    Detailed Process Flow
    13.2    Raw Material Requirements
    13.3    Product Overview and Specifications
14    Price Analysis
15    Project Details, Requirements and Costs Involved

    15.1    Land Requirements and Expenditures
    15.2    Construction Requirements and Expenditures
    15.3    Plant Machinery
    15.4    Machinery Pictures
    15.5    Raw Material Requirements and Expenditures
    15.6    Raw Material and Final Product Pictures
    15.7    Packaging Requirements and Expenditures
    15.8    Transportation Requirements and Expenditures
    15.9    Utility Requirements and Expenditures
    15.10    Manpower Requirements and Expenditures
    15.11    Other Capital Investments
    15.12    Loans and Financial Assistance
16    Project Economics
    16.1    Capital Cost of the Project
    16.2    Techno-Economic Parameters
    16.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    16.4    Taxation and Depreciation
    16.5    Income Projections
    16.6    Expenditure Projections
    16.7    Financial Analysis
    16.8    Profit Analysis
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Senior LED
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Osleder Lighting Technology Co.,Ltd. 
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Elstar
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Lumiron
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Others
18    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
2.    Global LED Lighting Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3.    Global LED Lighting Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4.    Global LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global LED Lighting Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global LED Lighting Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global LED Lighting Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    Global LED Panel Light Light Market: Key Industry Highlights, 2018 and 2032
9.    Global LED Panel Light Light Historical Market: Breakup by Application (USD Billion), 2018-2023
10.    Global LED Panel Light Light Market Forecast: Breakup by Application (USD Billion), 2024-2032
11.    Global LED Panel Light Light Historical Market: Breakup by Region (USD Billion), 2018-2023
12.    Global LED Panel Light Light Market Forecast: Breakup by Region (USD Billion), 2024-2032
13.    North America LED Panel Light Light Historical Market: Breakup by Country (USD Billion), 2018-2023
14.    North America LED Panel Light Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
15.    Europe LED Panel Light Light Historical Market: Breakup by Country (USD Billion), 2018-2023
16.    Europe LED Panel Light Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
17.    Asia Pacific LED Panel Light Light Historical Market: Breakup by Country (USD Billion), 2018-2023
18.    Asia Pacific LED Panel Light Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
19.    Latin America LED Panel Light Light Historical Market: Breakup by Country (USD Billion), 2018-2023
20.    Latin America LED Panel Light Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
21.    Middle East and Africa LED Panel Light Light Historical Market: Breakup by Country (USD Billion), 2018-2023
22.    Middle East and Africa LED Panel Light Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
23.    Global LED Panel Light Light Market Structure

Key Questions Answered in the Report

The global LED panel light market reached a value of USD 25.18 billion in 2023. 

The market is projected to grow at a CAGR of nearly 14% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 81.88 billion by 2032.

The major drivers of the market include rising disposable incomes, rising construction sector, surging environmental concerns, and the growing awareness about the benefits and cost-effectiveness of LED lights.

The introduction of favourable government initiatives aimed at promoting the use of energy-efficient lighting, the growing concerns regarding rapid climate change, and technological advancements and product innovations are the key trends fuelling the market.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

The various applications of LED panel light are retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others.

The leading players in the market are Senior LED, Osleder Lighting Technology Co.,Ltd., Elstar, and Lumiron, among others.

Analyst Review

The global LED panel light market attained a value of USD 25.18 billion in 2023, driven by the rising environmental concern. Aided by the growing awareness regarding the benefits of LED lights over traditional lights and its cost-effectiveness, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 14%. The industry is projected to reach USD 81.88 billion by 2032. 

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of application, the retrofit sector accounts for the largest share in the global industry. The major regional markets for LED panel light are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include Senior LED, Osleder Lighting Technology Co.,Ltd., Elstar, and Lumiron, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.  

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