According to the latest report by IMARC Group, titled “China LED Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the china LED market reached a value of US$ 28.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 22% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A light-emitting diode (LED) is an electronic device that produces noncoherent light when electricity passes through it. It provides low heat output, emits minimum radiation, and requires less power consumption. It is eco-friendly and has a longer shelf life as compared to its conventional lighting counterparts. As a result, the demand for LED lighting solutions is escalating across China.
At present, LED lights find extensive applications in the commercial, residential, institutional, and industrial sectors of China. Moreover, the Government of the Republic of China is offering large-scale subsidies to promote the adoption of LED lights. They are also prohibiting imports and sales of incandescent light bulbs, which is propelling the market growth. Besides this, technological developments, such as the introduction of smart lighting solutions, are positively influencing the product sales in the country. Other significant factors, including the easy accessibility of products at reduced prices and local energy saving targets, are anticipated to drive the market.
China LED market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the china LED market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the china LED market on the basis of product type, application, installation type and region.
Breakup by Product Type:
- Panel Lights
- Down Lights
- Street Lights
- Tube Lights
Breakup by Application:
Breakup by Installation Type:
- New Installation
- Retrofit Installation
Breakup by Region:
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/china-led-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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