Global - Market Forecast of LED Lamps

 

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ElectroniCast Consultants
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A leading market research consultancy, today announced the release of a just-completed global market forecast and analysis of the consumption of Light Emitting Diode (LED) lamps in General Lighting applications.

According to the market study, the global consumption value of specified LED lamps used in General Lighting, reached an estimated $23.15 billion in 2017.

The LED lamps covered in this study are used in luminaires in stationary/fixed locations (non-vehicle/non-portable) General Lighting applications. The lamps are used in new fixtures, as well as retrofitting/replacement of existing (installed-based) lamps. The definition for General Lighting is - lighting that is used to provide the main illumination of an area. The ElectroniCast definition of General Lighting also includes directional and supplementary lighting.

LEDs are used in both functional and decorative light fixtures, with an advantage of energy savings. Compared to incandescent lighting, LED-based solid-state lighting (SSL) delivers visible light with reduced heat. In addition, its solid-state nature provides for greater resistance to shock, vibration, and wear, thereby significantly increasing its lifespan.

The worldwide value is forecasted to increase to $30.81 billion in 2022, and eventually reaching $36.34 billion in 2027. Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.

The market study breaks-out the forecast by eight major lamp types: Parabolic aluminized reflector (PAR), General Service (A-Type), Decorative, Multifaceted reflector (MR) Compatible, Tube and Strips/Tape, Street-lights, High-Bay, and other/ miscellaneous LED lighting. The lamp categories, in turn, may have multiple sub-categories, which are determined by physical size and Watt equivalents of the lamp.

The global consumption value of specified LED lamps used in General Lighting, reached an estimated $23.15 billion in 2017. The consumption value of General Lighting LED Lamps is forecasted to increase to $30.81 billion in 2022, and eventually reaching $36.34 billion in 2027. Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.

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LED General Lighting ,Electronics Market Research Reports , Technology Market

 

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