led light engine market worth $59.5 billion by 2024 - exclusive report by marketsandmarkets™

engine market valued at $59.
5 billion to 2024
Exclusive coverage of MarketsandMarkets™Chicago, June 4, 2019 Chicago, June 4, 2019/PRNewswire /--
According to a new market research report \" engine market by product type (
Lamps)
, Installation type (
New installation and renovation installation), End-Application (
Indoor and outdoor lighting)
And geography.
MarketsandMarkets announced in Forecastto 2024 ^™The market value of engines is expected to be $30.
It is $ in 2019 and is expected to reach $59.
By 2024, the growth rate was 5 billion and the compound growth rate was 14.
7% from 2019 to 2024.
Rising energy demand-
Energy saving of lighting system;
Development and modernization of infrastructure, such as smart cities;
Availability of low-cost led;
Led as the entrance of ordinary lighting source;
The accelerated growth of LED technology relative to traditional lighting technology is a key factor affecting the growth of LED lighting engine market.
Ask for a PDF manual: \"The most CAGR lamps in the LED lighting engine market during the forecast period\", which is expected to have the highest growth rate in the lamp segment as it is the main component of the LED lighting system.
Increasing consumers\' awareness of energy conservation and installation of energy-efficient lighting systems is expected to promote the development of the LED lighting market.
\"During the forecastperiod, the renovation installation market will grow at the highest compound growth rate\", and according to the installation type, the renovation installation is expected to experience the highest growth.
Increase alternatives to lighting fixtures using energy
Efficient light sources, such as LED lights, are a major factor in the growth of the LED lighting engine, lighting installations.
The older generation lights are slowly being phased out, and the lamps are being refurbished as the LED lights provide longer service life and less energy consumption.
\"Residential indoor lighting application leading LED lighting engine market\"
Building activities, a large part of which is the building sector, are the main factors that lead to high growth of indoor lighting terminalsUse the app.
Economies with high per capita income are expected to implement energy-
Efficient lighting solutions in residential applications.
Countries such as China, the United States, Canada, the United Kingdom and Germany are expected to push the indoor lighting market for LED lighting engines during the forecast period.
\"During the forecast period, the Asia-Pacific region will occupy the largest share of the overall market of engines\", and it is expected that the Asia-Pacific region will be one of the fastest markets.
LED lighting engine market is growing during the Forecast period.
High growth rates can be attributed to rapid infrastructure construction.
Construction activities were carried out in the area.
China and Japan are the main market for engines in the Asia-Pacific region.
China is already the world\'s largest producer and consumer of lamps and lanterns.
Despite the recent slowdown in the property market, the led lighting market is expected to grow at a high speed, mainly due to increased government spending on public infrastructure and sustained growth in commercial and industrial construction. Browsein-
Depth TOC on the reported 68-table40-figures141-pagesrequest example page: In 2018, the engine market is dominated by major players such as: lighting NV (Netherlands)
, Osram Licht AG (Germany), GE lighting (US),Cree, Inc. (US), Hubbell Inc. (US)
, Zumtobel Group AG (Austria)
, Wiprovesies (P)Ltd. (India)
Samsung Electronics (South Korea), LG Innotek(South Korea), Legrand SA (France), Glamox AS (Norway)
Lu Qiong Electronics, Inc. (US), among others.
Please browse the relevant reports: LED lighting market of each installation type (
New installation and installation of solar fitinstallation), End-
Use the app (
Indoor and outdoor lighting),Product Type (
Lamps)
And geography.
Global 2022LED package Market Forecast by package type (SMD, COB, CSP)
Packaging materials (
Lead Frame, base plate, adhesive line, packaging resin), Application(
General Lighting, Automotive Lighting, backlight)
And geography.
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