According to a new report Global LED Light Engine Market, published by KBV research, The Global LED Light Engine Market size is expected to reach $66.6 billion by 2027, rising at a market growth of 13.4% CAGR during the forecast period.
On the basis of end-use applications, indoor lighting would obtain a prominent market share in the LED light engine market than outdoor lighting. The cause for this is an increase in infrastructural activity around the world, which is mostly focused on residential illumination.
On the basis of installation type, Retrofit installations would exhibit maximum growth rate in the LED light engine market. The growing use of energy-efficient light sources such as LED lamps to replace incandescent lamps is a major driver driving the demand for retrofit installations. Bulbs from previous generations are gradually being phased out, and fixtures are being upgraded with LED lamps, which have a longer operating life and consume less energy.
The growing building activities in APAC are helping to drive the LED light engine market in the region. In the coming years, there will be various new possibilities for energy-efficient lighting, as China and India are anticipated to build almost 200 million and 18 million houses, respectively. Countries such as China, Japan, and India have a huge impact on the APAC market.
Full Report: https://www.kbvresearch.com/led-light-engine-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 Signify N.V., OSRAM GmbH (AMS AG), LEDRAbrands, Inc., Hubbell Incorporated, Zumtobel Group AG, Samsung Electronics Co., Ltd. (Samsung Group), Acuity Brands Lighting, Inc., Lumitech LLC, Lutron Electronics Co., Inc., and Glamox AS
By Product Type
By Installation Type
By Application
By End User
By Geography
Companies Profiled
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