The new report by Expert Market Research titled, 'Global LED Curtain Lights Market Report and Forecast 2021-2026', gives an in-depth analysis of the global LED curtain lights market, assessing the market based on its segments like types, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 17%
The rising desire for energy-efficient lighting choices that consume little power, resulting in lower electricity costs, is driving the product's demand and, as a result, aiding the overall expansion of the LED curtain lights market. Because of LEDs' enhanced efficacy, durability, and lifespan, the demand for LEDs over traditional lighting, such as incandescent bulbs and compact fluorescent lamps (CFLs), is expanding as customer preferences alter. Furthermore, LED lighting products can be controlled remotely using a wired or wireless interface. LED lighting's advantages in home and commercial applications are increasing its appeal. These factors are expected to propel the growth of the market.
The increased acceptance of energy-efficient light sources is anticipated to be a major driving force in the market's growth throughout the forecast period. The market is predicted to increase because of the increasing usage of LED curtain lights by hospitality players such as restaurants and food outlets for outdoor and indoor décor. The simple availability of LED curtain lights through online retail channels at lower rates is projected to fuel the market's expansion.
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Industry Definition and Major Segments
LED curtain lights are one of the most recent and widely used breakthrough products. They are energy-efficient lighting alternatives that consume low power.
On the basis of type, the market can be classified into:
By distribution channels, the market is classified as:
On the basis of region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Asia
Growing worries about carbon emissions have spurred the demand for energy-efficient lighting options such as LEDs. Furthermore, governments all over the world are promoting the adoption of LED lighting through a variety of initiatives and public awareness campaigns. Since the cost of semiconductor chips and other components used in the creation of LEDs has decreased, LED lighting systems have become more affordable. During the forecast period, many of these factors are projected to support the growth of the global LED curtain lights market.
Key Market Players
The major players in the market are General Electric Company, Havells India Ltd., OSRAM GmbH, Panasonic Corp., Koninklijke Philips N.V., Signify Lighting NV, Cree Inc., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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