The Global Energy Efficient Lighting Market is Predict to reach $42.6 Billion by 2028, at a CAGR of 8.4%

Energy Efficient Lighting Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Energy Efficient Lighting Market size is expected to reach $74 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.

The Light Emitting Diodes (LED) segment acquired maximum revenue share in the Global Energy Efficient Lighting Market by Type in 2021, thereby, achieving a market value of $31.7 billion by 2028. A light-emitting diode (LED) is a two-lead semiconductor light source. Since it is a p n junction diode, it emits light when activated. Because of recent developments in LED technology, they can now be employed in environmental illumination. LEDs have witnessed a boom in popularity due to the benefits they offer over incandescent light sources, including lower energy usage, increased physical resilience, longer lifetime, faster switching, and smaller size.

The Industrial segment is showcasing a CAGR of 8.8% during (2022 - 2028). This is because energy efficient lighting solutions reduce capital expenditures, scheduled outages, and maintenance, optimize labor costs, meet national and international safety standards, have a lower carbon footprint, and have a lesser environmental impact. All of these factors are projected to encourage the use of energy-efficient lighting in industrial settings, resulting in fast growth during the projection period.

The Europe market dominated the Global Energy Efficient Lighting Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $24.8 billion by 2028. The North America market is estimated to witness a CAGR of 8% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 9.1% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/energy-efficient-lighting-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ams-OSRAM AG, Signify N.V., Savant Systems, Inc., Toshiba Corporation, ABB Group, Schneider Electric SE, Advanced Lighting Technologies Australia, Inc., Nichia Corporation, Bridgelux, Inc., and Digital Lumens, Inc.

Global Energy Efficient Lighting Market Segmentation

By End-use

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)

By Connectivity Type

• Wireless
• Bluetooth
• Cellular
• Wired

By System Type

• Multimedia
• Navigation Unit
• Communication Unit
• Rear Seat Entertainment
• Heads-up Display

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• Alps Alpine Co., Ltd.
• Continental AG
• Denso Corporation
• Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
• General Motor Co.
• Ford Motor Company
• Volkswagen AG
• Garmin Ltd.
• Panasonic Corporation
• Pioneer Corporation

Unique Offerings from KBV Research

• Exhaustive coverage
• The highest number of market tables and figures
• Subscription-based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free

Related Reports:

North America Energy Efficient Lighting Market Future Scope & Opportunities 2022-2028

Europe Energy Efficient Lighting Market Size & Growth Forecast 2022-2028

Asia Pacific Energy Efficient Lighting Market Size, Share & Industry Outlook to 2028

LAMEA Energy Efficient Lighting Market Growth, Trends & Forecasts 2022-2028