According to a new market report published by Credence Research Inc “LED Tube Lights Market was valued at US$ 3,705.0 Mn in 2017 and is set to cross US$ 13,000.0 Mn by 2026, growing with a CAGR of 15.2% during the forecast from 2018 to 2026.
Credence Research, the leading business intelligence provider, has published its latest research, “LED Tube Lights Market 2026″, which gives insights into LED Tube Lights in the Global market. The report determines the market size for 2018, along with forecasts until 2026. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.
The demand for LED tube lights is growing considerably as these tubes offer smooth, constant and clear supply of light and consumes less power. Owing to their long life and higher efficiency these lighting tubes are rapidly replacing traditional fluorescent tube lights in residential and commercial applications. One of the most prominent factors driving the global LED tube lights market growth is the stringent energy consumption regulations being implemented in all major countries across the world. Moreover, the fact that LED tube lights offer high efficiency is another important factor leading to its increased adoption. Therefore, these factors are expected to drive the demand for LED tube lights during the forecast period from 2018 to 2026. However, high initial cost of LED tube lights is one of the restraining factors impacting the market growth negatively.
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In 2017, the residential segment held the largest share in the overall tube lights market. Stringent consumption regulations introduced by major countries across the world coupled with incentives offered on less energy consumption is expected to drive the demand for LED tube lights. Moreover, shorter payback time is another prominent factor which has led to the increasing adoption of LED tube lights across the residential segment. Therefore, on account of the aforementioned factors, the residential segment expected to maintain its dominance throughout the forecast period from 2018 to 2026. With new commercial construction projects, the segment would exhibit robust growth during forecasted period. Architectural sector is the early adopter of LED tube lights in the U.S. and European countries. With consistently declining prices of LED tube lights, architectural sector have reached more than 70% shares of commercial LED lighting usage.
Some major players operating in the global LED tube light industry include Koninklijke Philips N.V., Cree, Inc, LG Electronics Inc., GE Lighting, Hubbell Incorporated, Cooper Industries, Samsung LED, Acuity Brands, Inc, Lighting Science Group Corp, Panasonics Corp, Eaton Lighting and OSRAM Licht AG among others.
- The report presents the brief overview of LED Tube Lights Market including business description, key information and facts, and its locations and subsidiaries
- The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
- Special feature on out-licensed and partnered product portfolio
- The report summarizes all the dormant and discontinued projects
- Latest company statement
- Latest news and deals relating to the LED Tube Lights products
The following research methods were used in this report:
- Desk study
- A questionnaire survey among specialty retail chains
- Analyzing statistical data released by the Federal Customs Service
- Desk study sources include materials taken from print and online media conference materials.
Reasons to Buy
- The report provides information about technology solutions needed for the implementation of LED Tube Lights projects, and allows readers to make effective business decisions
- The report helps readers to strengthen strategic framework by understanding the business benefits to be achieved through LED Tube Lights solutions
- The report highlights projected investment on LED Tube Lights over the next two years. This will help organizations to allocate budget towards LED Tube Lights implementation and business expansion
- The report helps executives plan their adoption of LED Tube Lights by providing expected timeframes for implementation
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