(MENAFN- IMARC Group) According to the latest report by IMARC Group, titled “China LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the china LED market reached a value of US$ 28.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 22% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A light-emitting diode (LED) refers to an electronic device that emits narrow-spectrum light when an electric current is passed through it. It is a two-lead semiconductor device that is compact and provides fast switching options. LEDs are available in various colors, shapes, and sizes and are widely used across the residential, commercial, and industrial sectors. LED lights have minimum radiation emission and low heat output, and they efficiently produce light and energy, unlike conventional and incandescent lights.
The growing demand for energy-efficient solutions in China is primarily driving the market growth. Furthermore, the wide presence of favorable government support policies to gradually phase out incandescent light bulbs and fluorescent lights in favor of LED lights, is also augmenting the product demand. Moreover, rising environmental consciousness has catalyzed the demand for eco-friendly products, such as LED bulbs, thereby propelling the market growth in China. Additionally, the increasing demand for LEDs in architectural lighting across both commercial and residential sectors is further bolstering the market growth. Besides this, the rising use of LED lights in automotive components, signal and signage, mobile devices, etc., will continue to drive the China LED market in the coming years.
China LED market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the china LED market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the china LED market on the basis of product type, application, installation type and region.
Breakup by Product Type:
Panel Lights
Down Lights
Street Lights
Tube Lights
Bulbs
Others
Breakup by Application:
Commercial
Residential
Institutional
Industrial
Others
Breakup by Installation Type:
New Installation
Retrofit Installation
Breakup by Region:
Guangdong
Jiangsu
Shandong
Zhejiang
Henan
Others
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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