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Industrial LED Market to Garner $20.16 Bn, Globally, by 2026 at 16.8% CAGR: Allied Market Research

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Allied Market Research

21 Apr, 2020, 14:10 GMT

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High demand for cost-effective & energy-saving LED lighting, government campaign toward LED adoption, and surge in need to replace traditional lighting have boosted the growth of the global industrial LED market

PORTLAND, Oregon, April 21, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Industrial LED Market by Product (LED Lamps and LED Fixtures), Application (Indoor Lighting and Outdoor Lighting), and Industry Vertical (Oil & Gas, Mining, Pharmaceutical, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global industrial LED industry was pegged at $5.57 billion in 2018, and is projected to garner $20.16 billion by 2026, growing at a CAGR of 16.8% from 2019 – 2026.

Major driving factors for the market growth

High demand for cost-effective & energy-saving LED lighting, government campaign toward LED adoption, and surge in need to replace traditional lighting have boosted the growth of the global industrial LED market. However, voltage sensitivity & temperature dependence, and high initial cost of LEDs hamper the market growth. On the contrary, surge in adoption of smart lighting technology is expected to create lucrative opportunities in the near future.

Download Report Sample (Tables, Figures with Insights): https://www.alliedmarketresearch.com/request-sample/6419 

The LED lamps segment dominated the market

Based on product, the LED lamps segment held the largest share in 2018, accounting for more than half of the global industrial LED market, owing to the increased demand for LED lamps and rapid development of smart cities. However, the LED fixtures segment is projected to register the highest CAGR of 19.0% during the forecast period. This is due to features such as longest life rating, best visual lighting, and rise in demand for the LED fixture

The outdoor lighting segment to manifest the fastest CAGR through 2026

Based on application, the outdoor lighting segment is anticipated to portray the fastest CAGR of 18.2% during the forecast period, owing to surge in need for longer service life of light panel/bulbs along with brighter light in outdoor applications. However, the indoor lighting segment held the largest share in 2018, accounting for nearly three-fourths of the global industrial LED market, owing to the features such as flexible design, energy efficiency, and prolonged durability of LEDs.

Asia-Pacific, followed by Europe and North America, held the lion's share

The market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market. This is due to technological development in the LED market and a surge in demand for low-power consumption lighting solutions. However, the market across LAMEA is estimated to register the fastest CAGR of 20.2% during the forecast period, owing to the inclination toward advanced technological products, increase in investments in the various industry verticals, and growth in R&D facilities in the region. The global industrial LED market across North America held more than one-fifth of the total market share.

Interested to Procure the Data? Enquire Here: https://www.alliedmarketresearch.com/purchase-enquiry/6419 

Major market players

  • Cree, Inc
  • Dialight
  • Deco Lighting, Inc
  • General Electric
  • Eaton Corporation
  • OSRAM
  • Koninklijke Philips N.V.
  • Toshiba Corporation (Toshiba Tec Corporation)
  • Syska
  • Zumtobel Group AG

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

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Organic LED Market Size to Grow 203.07 Billion by 2026: 21.7% CAGR

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HB-LED Market to Reach $29 Billion Globally, by 2022

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Industrial And Commercial Led Lighting Market Outlook - 2025

Pre-Book Now with 10% Discount:

LED Materials Market Trends by 2030 - Global Opportunities

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
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India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com   
Follow Us on LinkedIn and Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

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