Asia Pacific LED Lighting Market By Product (Luminaires and Lamps), By Application (Indoor and Outdoor), By End User (Commercial, Residential, Industrial and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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The Asia Pacific LED Lighting Market would witness market growth of 11.7% CAGR during the forecast period (2021-2027). China, Indonesia, India, Vietnam, and Malaysia are the fastest developing countries in the Asia Pacific.
These countries have a thriving construction industry as local and migrated populations are increasing at a rapid pace in these countries. Therefore, the swiftly growing construction industry in APAC will boost the demand for products in the regional market. However, the construction projects of industrial, commercial, and residential areas have been delayed during the pandemic due to the absence of a workforce. Thus, the demand for LED lights decreased in 2020 leading to a decline in the growth of the overall market.
Additionally, strict regulations related to traditional lighting and energy consumption across countries would support the demand for the product during the forecast period. The light-emitting-diode lighting market would witness new growth avenues with corresponding ratings and design standards categorizing energy efficiency, like Comprehensive Assessment System for Built Environment Efficiency (CASBEE) in Japan, and regulations for green construction in China.
In recent years, the governments of many emerging countries including India, China, and Indonesia, are willing to take part in the development and modernization of infrastructure. This leads to increased demand for LED lighting solutions in these economies. The major catalysts for the growth of the LED market are the increasing adoption of energy-efficient lighting solutions and reducing costs of LEDs.
The China market dominated the Asia Pacific Troffers LED Lighting Market by Country 2020, thereby, achieving a market value of $2,118.9 million by 2027. The Japan market is showcasing a CAGR of 11.4% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 12.6% during (2021 - 2027).
Based on Product, the market is segmented into Luminaires and Lamps. Luminaires segment is further categorized into Downlights, Streetlights, Troffers and Others. Lamps segment is further bifurcated across A Lamps, T Lamps and Others. Based on Application, the market is segmented into Indoor and Outdoor. Based on End User, the market is segmented into Commercial, Residential, Industrial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dialight PLC, LSI Industries, Inc., Zumtobel Group AG, Heliospectra AB, Nichia Corporation, Seoul Semiconductor Co., Ltd., Lumileds Holding B.V., Signify N.V., Hubbell, Inc., and Acuity Brands Lighting, Inc.
Scope of the Study
Market Segments Covered in the Report:
- A Lamps
- T Lamps
By End User
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Dialight PLC
- LSI Industries, Inc.
- Zumtobel Group AG
- Heliospectra AB
- Nichia Corporation
- Seoul Semiconductor Co., Ltd.
- Lumileds Holding B.V.
- Signify N.V.
- Hubbell, Inc.
- Acuity Brands Lighting, Inc.
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