Europe is anticipated to dominate the LED lamp market share owing to the increasing demand for smart lighting and smart homes options. Various regulations in the region for implementation of these lamps in industrial, public, and residential sectors have further escalated the regional growth. North America is expected to showcase a considerable growth rate owing to the increasing adoption in outdoor applications. Asia Pacific will exhibit a significant growth rate owing to various government initiatives across the region for the implementation of LED lamps.
LED Lamp Market scale has witnessed a swift upsurge with the commendable product penetration across the industrial and residential sectors. The LED lamp industry growth is not only attributed to the huge profit residing in its wide spectrum of applications but is also equally driven by the buzzing trend of energy conservation worldwide. Considering the demand curve of LED lamps over the recent years, these products have become a commodity of choice in response to the escalating demand for sustainable lighting solutions and optimal energy usage.
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The emerging economies such as India and China are becoming popular platforms for the LED lamp market expansion. The rapid economic development, urban projects, and favorable government policies are the factors influencing the investments of the industry players in these regions. For instance, the Government of India, under the UJALA scheme, provides these lamps at lower prices, making it quite a viable option for the lower-income groups as well. Lighting Africa Program by the World Bank which enables sustainable lighting solutions access to 250 million people across sub-Saharan Africa, also provided a phenomenal impetus to LED lamp market.
The growing trend of automation and the ‘smart city’ and ‘smart home’ initiatives have further added to the growth of LED lamp industry. In this regard, the developed economies have contributed toward a major chunk of the overall market revenue. U.S. and Canada have been lucrative avenues for the LED lamp market growth over the recent years and are anticipated to display an upward path in the coming years as well. U.S. LED lamp market is also projected to gain a significant traction via the horticulture lighting recognized as one of the major niche applications in this region.
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Extensive use of conventional fluorescent lamps and low awareness about benefits of LED lamps will hamper the industry growth over the forecast timeline. Excessive costs of these lamps as compared to traditional fluorescent and halogen lamps may have a negative impact on the LED lamp market growth.
Some Point from Table of Contents:
Chapter 4 Lamp Market, By Product
4.1 Lamp market share, by product, 2016 & 2024
4.2 Electrical Discharge Lamps
4.2.1 Market estimates and forecast, by region, 2013-2024
4.2.2 Fluorescent lamps
22.214.171.124 Market estimates and forecast, by region, 2013 – 2024
4.2.3 High density discharge lamps
126.96.36.199 Market estimates and forecast, by region, 2013 – 2024
4.3 Filament Lamps
4.3.1 Market estimates and forecast, by region, 2013-2024
4.3.2 Incandescent Lamps
188.8.131.52 Market estimates and forecast, by region, 2013 – 2024
4.3.3 Halogen Lamps
184.108.40.206 Market estimates and forecast, by region, 2013 – 2024
Chapter 5 Lamp Market, By Application
5.1 Lamp market share, by application, 2016 & 2024
5.2 Indoor Use
5.2.1 Market estimates and forecast, by region, 2013-2024
220.127.116.11 Market estimates and forecast, by region, 2013-2024
18.104.22.168 Market estimates and forecast, by region, 2013-2024
22.214.171.124.1 Market estimates and forecast, by region, 2013-2024
126.96.36.199.1 Market estimates and forecast, by region, 2013-2024
188.8.131.52.1 Market estimates and forecast, by region, 2013-2024
184.108.40.206.1 Market estimates and forecast, by region, 2013-2024
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