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2021
Led Panel Light Market

LED Panel Light Market By Type (Embedded, Suspended, and Ceiling), Application (Retail, Hospitality, Offices, Architectural, and Others), and Industry Vertical (Commercial, Industrial and Residential): Global Opportunity Analysis and Industry Forecast, 2021–2030

A13301
Pages: NA
Nov 2021 | 86 Views
   
Author(s) : Vineet Kumar
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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LED Panel Light Market Outlook – 2030

LED panel light comes in the category of light fixtures that are economical, durable, require less maintenance and provide uniform light output. LED panel lights are rapidly replacing conventional lights, which consist of fluorescent tubes and tray lightings. These LED panel light use integrated surface-mounted diode technology and is considered to be one of the best substitutes for indoor lighting, which provides instant cut to power usage by delivering bright light.

The companies involved in the manufacturing of LED panel light are now focusing on maximizing the sensitivity of the LED panel light, which will provide results that are more accurate. This development will help the LED Panel Light to penetrate in the market. The LED Panel Lights find their applications in diverse sectors such as retail and hospital, architectural and many others.

The global LED panel light market is segmented on the basis of type, application, industry vertical, and region. Based on type, the market is segregated into embedded, suspended, and ceiling. In terms of application, the market is categorized into retail, hospitality, offices, architectural, and others. On the basis of industry vertical, the market is divided into commercial, industrial and residential. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global LED panel light industry include Nichia Corporation, Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Philips, GE Lighting, Seoul Semiconductor, Zumtobel Group, and Cree Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.

Top Impacting Factors

Top driving factors include increase in attention to the environment and rise in demand for green-technology, which have promoted the development of the LED panel light market. Another driving factor is the rapid technological progress which continues to support the LED panel light market growth. In addition, among the application areas of LED panel light, retrofit is the market leader as the public is increasingly inclined to retrofit existing lighting equipment with LED panels. Furthermore, these lighting solutions usually used in commercial spaces, due to the ability to start instantly, with no-restrike delays, in fast retrofitting situations. These factors create lucrative opportunities in the market during the forecast period.

LED Panel Light Market Trends, Scenario Analysis, Drivers and Impact Analysis

Large market participants in the market provide energy-savings and increase the demand in the market by launching new products with enhanced functions and color choices for consumers. LED panel lights are environment-friendly alternative as compared to conventional lighting fixtures because they are made of safe materials, such as high-quality extruded aluminum and steel, and can be easily handled. Furthermore, because of these benefits, regulatory bodies around the world are also promoting the use of LED panel lights and creating market opportunities.

Moreover, good heat dissipation and side-emitting design of LED panel lights help extend service life of LED panels. Nowadays, these LED panel light are in demand because they come in different shapes and sizes. These are suitable for offices and conference rooms, hotels and restaurants, showrooms and shopping centres, hospitals and laboratories, and educational institutions.

Compared with fluorescent lamps, LED panel lights have no start-up delay, and can be easily installed through quick upgrades. In addition, these lights are rapidly gaining popularity due to their advanced features, such as dimming, plug-and-play remote control, and 3-hour emergency stop option, compatibility with building controls, motion sensors, and timers in strictly controlled environments.

Key Benefits of the Report

  • This study presents the analytical depiction of the LED panel light market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the LED panel light market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the LED panel light market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed LED panel light market analysis based on competitive intensity and how the competition will take shape in coming years.

Market Scope and Structure Analysis

Report Metric

Details

 Market Size Available For Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period 

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

 Type, Application, Industry Vertical, and Region

 Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and the Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa)

 Companies Covered

Nichia Corporation, Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Philips, GE Lighting, Seoul Semiconductor, Zumtobel Group, and Cree Inc.

 

COVID-19 Impact analysis

During the unpredictable period of the pandemic, regulatory bodies throughout the globe impose lockdown and restriction and have recommended stringent norms such as social distancing, isolation, which severely affect the growth of the industry. In addition, rise in urbanization leads to increase in disposable income and change in consumption trends of the consumer. This is expected to drive the market growth in the next few years.

Another major impact of COVID-19 pandemic is shutdown of the retail shops and pause on manufacturing operations, which in turn reflects decrease in demand and impact the market growth. Furthermore, even after the lockdown was lifted and the installations resumed, the LED panel light market growth remained slow due to difficulty in availing labor, goods, which restricted the progress of the market.

LED Panel Light Market Key Segments

Segment

Sub-Segment

 Type

  • Embedded
  • Suspended
  • Ceiling

 Application

  • Retrofit
  • Retail & Hospitality
  • Outdoor
  • Offices
  • Architectural
  • Others

 Industry Vertical

  • Commercial
  • Industrial
  • Residential


Questions Answered in the LED Panel Light Market Research Report

  • What are the leading market players active in the LED panel light market?
  • What would be the detailed impact of COVID-19 on the LED panel light market?
  • How current LED panel light market trends will influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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