Lighting Product Market
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Lighting Product Market is estimated to surpass $0.220 Trillion market in 2019 and reach USD XX Trillion by 2026, at a Compound Annual Growth Rate (CAGR) of XX % during the forecast period 2018-2026 globally.
Lighting Product Market
Lighting Product is having a major impact on rising industries and household sector alike consequently changing the face of global economy in upcoming future. Accordingly, 242.63 Billion lighting products are to be produced in the market by 2020, product efficiency and growing demand being the major driving force. An efficient Lighting Product market to manage such high device volumes, diversity, and geographies is the need of the time.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Mainly in Lighting Product Market, product segment is usually named as Standalone Type. Standalone Type covers LED Tubes & Bulbs, Incandescent, T8 LED Tubes & Bulbs, and High Intensity Discharge. Of these, the LED tubes will hold largest market i.e. around 50% in the forecast period. Simultaneously other product segments are expected to lose their shares in the forecast period.
Basically key applications consist of Residential Lighting, Table Lamp, Floor Lamp, Desk Lamp, Commercial Lighting, Industrial Lighting, Outdoor Lighting (Street Lights, Parking Garage, Landscape, etc.) and others. Amongst these, Outdoor Lighting is estimated to grow at higher rate in the forecast period. Usage in the usage of LEDs at outdoor places has increased in last few decades. Usually, parking areas and traffic lights install it prominently.
Lighting Fixture spending will reach XX billion in 2018, making it the third largest industry segment in Lighting Product Market. The leading consumer use cases will be related to the Application. Retailers of Lighting Product Market will experience strong spending growth over the forecast period with an overall CAGR of over XX%.
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Last Update : Jul 22, 2020
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