Light Engine Market report which delivers detailed overview of the global light engine market in terms of market segmentation by product type, installation type, end user, and by region.
The global light engine market is estimated to occupy a large amount of revenue by recording a CAGR of ~14% during the forecast period, i.e., 2022 – 2030, owing to the increasing demand for energy-efficient lighting systems across the globe, and decline in the cost of LED lights. Apart from these, growing urbanization and infrastructural development, and rising implementation of IoT based lighting systems globally are also expected to drive market growth in the forthcoming years.
Light Engine Market Statistics –
- The Light Engine Market is slated to observe 14% growth rate through 2022-2030
Get Free Sample Copy of this Report @:https://www.researchnester.com/sample-request-3648
The market is segmented by product type, installation type, and end user. Based on product type, the luminaries segment is anticipated to grab the largest market share during the forecast period on the back of surging consumer awareness associated with energy conservation and high energy efficiency. Additionally, by end user, the commercial segment is projected to gather the largest share over the forecast period ascribing to the fact that the escalating development of commercial complexes and spaces, fueling the demand for LED light engines in the sector.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Geographically, the global light engine market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to consistent technological advancements and presence of prominent market players in the region. Moreover, Asia Pacific is predicted to register noteworthy market growth by the end of 2030 in view of the growing construction activities and rapidly rising population in the region. The World Bank depicts that the population of South Asia grew up to 1.857 billion in 2020, which was calculated to be 1.836 billion and 1.814 billion in the years 2019 and 2018 respectively.
According to recent study by Research Nester, the Light Engine Market size is projected to expand at CAGR of over 14% from 2022 to 2030.
Major players include in the global Light Engine Market:
- General Electric Company
- Acuity Brands, Inc.
- OSRAM GmbH
- Samsung Electronics Co., Ltd.
- Signify Holding
- Zumtobel Lighting GmbH
- Glamox Limited
- Hubbell Incorporated
- Ideal Industries Inc.
- Lutron Electronics Co., Inc.
Get Your Free Sample Copy of this Report @https://www.researchnester.com/sample-request-3648
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Hike in Demand for Energy-Efficient Lighting Systems Worldwide to Boost Market Growth
Over the last few years, consumers are shifting their focus from conventional lights towards LED light engines owing to the high energy efficiency of the latter. In addition, governments of several developed and developing nations are investing heavily to deploy sustainable means of development. These are the major factors assessed to drive the growth of the market in the near future.
However, availability of alternative technologies is expected to operate as key restraint to the growth of the global light engine market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global light engine market which includes company profiling of General Electric Company, Acuity Brands, Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, Zumtobel Lighting GmbH, Glamox Limited, Hubbell Incorporated, Ideal Industries Inc., Lutron Electronics Co., Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global light engine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Buy a Copy of this Strategic Report to drive your Business Growth @https://www.researchnester.com/purchage/purchase_product.php?token=3648
Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
For more information, please contact:
AJ Daniel
Research Nester
Email: info@researchnester.com
Tel: +1-6465869123