Europe high brightness LED market is poised to witness an exponential growth at a rate of 4.4% from 2016-2023, due to the vast presence of industries in the region.
Growing concerns regarding energy saving and rising number of initiatives toward increasing green construction are expected to provide ample growth prospects in the regional landscape of high brightness LED market. Asia Pacific high brightness LED market is projected to register a CAGR of 5.5% over the period of 2016-2023. China and Japan are the prominent countries which are actively seeking a fundamental shift in their energy policies by encouraging improved LED manufacturing, attractive initiatives, and huge financial subsidies.
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According to a new study by Global Market Insights Inc., High Brightness LED Market size is anticipated to surpass USD 22 billion, at 4.9% by 2023. Growing awareness and government initiatives concerning energy conservation are likely to propel the demand in the near future. The report comprises of an overview of the market with in-depth analysis of key factors and key trends driving the market. It also includes the current market scenario, forecast, and estimations for the projected period.
High brightness LED bulbs are robust, efficient and are likely to have a greater life span as compared to other types. They aid more than 50% energy savings over conventional technologies. All these features are anticipated to boost the market demand in the next few years. Longer life span leads to low replacement costs. Low prices HB LED will be a key strategy for manufacturers to further the demand over the projected time frame. Increasing use in heat sensitive applications including textile and food illumination is poised to impel High Brightness LED Market growth over the predicted period. The high initial cost may hamper the acceptance and growth across the industry.
Lighting application is expected to surge and register more than USD 7.4 billion by 2023. Factors like increased consumer awareness and consistent growth in sales of replacement lamps, downlights, commercial, industrial and outdoor products are likely to drive the demand.
Browse key industry insights spread across 81 pages with 57 market data tables & 20 figures & charts from the report, “High Brightness LED Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/high-brightness-HB-LED-market
Glimpse of Table of Content (ToC)
Chapter 3 High Brightness LED Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012 – 2023
3.3 Industry ecosystem analysis
3.3.1 Vendor landscape
3.4 HB LED market dynamics
3.4.1 Growth drivers
184.108.40.206 Positive regulatory outlook
220.127.116.11 High replacement demand
18.104.22.168 Growing consumption across application areas
3.4.2 Industry pitfalls & challenges
22.214.171.124 Cost concerns
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Key competitor analysis, 2015
3.8 PESTEL analysis
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/high-brightness-HB-LED-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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