DUBLIN, Sept. 20, 2019 /PRNewswire/ -- The "Asia-Pacific LED Lighting Market by Product Type, by Installation Type, by Application, by Geography Market Size, Share, Development, Growth and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
According to this research, the Asia-Pacific (APAC) LED lighting market, by 2024, is predicted to reach $58.0 billion, advancing at a 13.0% CAGR during the forecast period (2019-2024).
The factors driving the growth of the market are increasing number of smart cities and government initiatives toward the adoption of LEDs. The increasing sale of lights with the ability to be controlled anytime from anywhere using smartphones is a key trend in the market.
Based on installation type, the APAC LED lighting market is bifurcated into retrofit and new installations. Of these, during the historical period (2014-2018), retrofit installations registered faster growth, which is expected to continue in the forecast period as well in the region, owing to the ongoing replacements of sodium vapor and incandescent lamps with LEDs in countries such as India, China, Australia, Japan, and South Korea.
On the basis of indoor LED lighting application, the APAC LED lighting market is classified into industrial, commercial, and residential. Out of these, in 2018, the commercial classification held the largest share in the market. The commercial category includes hospitality and tourism, office, retail, hospital, education, transportation, government, BFSI, and others. The growth of the indoor application of LED lights is mainly attributed to the increasing government initiatives promoting energy-efficient lighting in commercial spaces, especially in India, China, Japan, and Australia.
Furthermore, based on industrial LED lighting, the APAC LED lighting market is divided into automotive, chemicals and pharmaceuticals, food and beverages, oil and gas, electronics and semiconductors, energy and utilities, and others, wherein others' include textile, telecom, and mining. Out of these, energy and utilities are predicted to be the fastest-growing division during 2019-2024, owing to the expanding construction of energy substations and power plants in the region.
Now, coming to the outdoor LED lighting application, the APAC LED lighting market is categorized into parks, parking spaces, road network, transportation, stadiums and sports complex, and others where others' include architectural, agriculture, and religious institutions. Out of these, in 2024, road network sub-category is projected to hold the largest share in the market.
This can be ascribed to the rising replacement rate of conventional lights installed on streets with new, energy-efficient LED lights. Countries such as China, India, Australia, and South Korea are rapidly installing LED lights to minimize CO2 emissions and energy consumption.
Some of the key players in the LED lighting market in APAC are focusing on partnerships and product launches. The companies participating in such activities include Osram Licht AG, Cree Inc., Zumtobel Group AG, Samsung Electronics Co. Ltd, and Koito Manufacturing Co. Ltd.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product Type
4.1.2 By Installation Type
18.104.22.168 New installation
22.214.171.124.4 Other lamps
4.1.3 By Application
126.96.36.199.1.3 Hospitality and Tourism
188.8.131.52.3.2 Food and Beverage
184.108.40.206.3.3 Electronics and Semiconductors
220.127.116.11.3.4 Energy and Utilities
18.104.22.168.3.5 Chemicals and Pharmaceuticals
22.214.171.124.3.6 Oil and Gas
126.96.36.199.1 Road Network
188.8.131.52.4 Parking spaces
184.108.40.206.5 Stadiums/Sports Complex
4.2 Value Chain Analysis
4.3 Market Dynamics
220.127.116.11 Growing popularity of smart LED lighting
18.104.22.168 High energy efficiency and greater life span
22.214.171.124 Government initiatives driving the adoption of LED lights
126.96.36.199 Increasing number of smart cities
188.8.131.52 Impact analysis of drivers on market forecast
184.108.40.206 Development of alternative technology
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 Upcoming sports events in APAC
4.4 Porter's Five Forces Analysis
Chapter 5. APAC Market Size and Forecast
Chapter 6. China Market Size and Forecast
Chapter 7. Japan Market Size and Forecast
Chapter 8. India Market Size and Forecast
Chapter 9. South Korea Market Size and Forecast
Chapter 10. Australia Market Size and Forecast
Chapter 11. Rest of APAC Market Size and Forecast
Chapter 12. Competitive Landscape
12.1 Market Share Analysis of Key Players
12.2 Companies' Benchmarking Based on LED Light Offerings
12.3 Recent Activities of Major Players
12.4 Strategic Developments of Key Players
12.4.1 Mergers and Acquisitions
12.4.2 Product Launches
12.4.4 Client Wins
Chapter 13. Company Profiles
- Koito Manufacturing Co. Ltd.
- Stanley Electric Co. Ltd.
- Osram Licht AG
- Samsung Electronics Co. Ltd.
- Cree, Inc.
- Signify N.V.
- LG Electronics Inc.
- Panasonic Corporation
- Zumtobel Group AG
- Seoul Semiconductor Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/hokyal
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets