According to IMARC Group latest report titled” LED Panel Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 18.6 Billion in 2020. The Global LED Panel Light Market size to exhibit moderate growth during the next five years. LED panel light represents a kind of lighting fixture with slim panels of LEDs, used as an alternative to conventional indoor fluorescent lights. This is attributable to properties, including high energy efficiency, cost-effectiveness, durability, uniform light output, etc. Besides this, superior structural design for heat dissipation facilitates quick heat dispersion, thereby extending their lifespan. Nowadays, these lightings are available in numerous shapes, sizes, designs, etc., suitable for offices, hotels, showrooms, malls, hospitals, laboratories, etc.Get a sample copy of this Report: www.imarcgroup.com/led-panel-light-manufacturing-plant/requestsample
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Numerous advantages offered by LED panel lights over conventional bulbs and tube lights are currently driving the global market. For instance, unlike fluorescent light fixtures, LED panel lights can start instantly without any restrike delays and allow easy installation in fast retrofitting situations. Additionally, they are gaining popularity in highly controlled environments due to advanced features like dimmability, maintained three hours emergency options, remote plug and play drivers, etc. Moreover, being made of non-hazardous materials that have minimal disposal issues, such as high-grade extruded aluminum and steel, LED panel lights are witnessing a rising demand as green alternatives to traditional light fixtures. Furthermore, numerous government bodies of several nations are also promoting the use of LED panel lights for energy and environmental conservation, which is expected to further catalyze the LED panel light market growth over the forecast period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Nichia
Osram
Samsung Electronics
Everlight Electronics
LG Innotek
LED Panel Light Market Segmentation:
Our report has categorized the market based on region and application.
Breakup by Application:
Retrofit
Retail & Hospitality
Outdoor
Offices
Architectural
Residential
Industrial
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape