
LED Panel Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
LED Panel Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global LED panel light market size reached US$ 22.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.1 Billion by 2028, exhibiting a growth rate (CAGR) of 11.1% during 2023-2028.
LED panel light is a type of lighting fixture that is highly energy efficient and cost-effective, long-lasting, gives uniform light output, and requires less maintenance. Owing to these advantages, it is rapidly replacing conventional fluorescent ceiling lights and is considered one of the best lighting alternatives for indoor settings. Due to good structural design for heat dissipation and light emitting on sides, LED panel lights can disperse heat quickly which helps to extend their life span. Nowadays, the demand for these lights is high across the globe as they are available in various shapes, sizes and designs that are suitable for offices and conference rooms, hotels and restaurants, showrooms and malls, hospitals and laboratories, and educational institutes.
Unlike fluorescent light fixtures, LED panel lights have no-restrike delays and can start instantly and can be easily installed in fast retrofitting situations. Apart from this, these lights are rapidly gaining preference in highly controlled environments owing to their advanced features including dimmability, remote plug and play drivers, maintained three hours emergency options, compatibility with building controls, motion sensors and timers. They are also being considered as a green alternative to traditional light fixtures as they are constructed with non-hazardous materials such as high-grade extruded aluminum and steel which have no disposal issues. Owing to these benefits, governments of various nations are also encouraging the use of LED panel lights to conserve energy and promote environmental protection. Moreover, with the advancements in the LED technology, manufacturers have launched LED products in new color variants, which is further contributing to their demand.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED panel light market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Retrofit
Retail & Hospitality
Outdoor
Offices
Architectural
Residential
Industrial
Retrofit currently represents the largest application segment, accounting for the majority of the global LED lighting market share. Retrofitting of existing lighting fixtures with LED lights has gained immense popularity in both the indoor and outdoor lighting segments.
Regional Insights:
India
China
Europe
United States
Japan
Brazil
Russia
Others
On the geographical front, China exhibits a clear dominance in the global LED lighting market. The increasing number of malls, hotels and other commercial complexes in the country have escalated the demand for LED lights.
Competitive Landscape:
The market is highly concentrated with the presence of a few small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Nichia
Osram
Samsung Electronics
Everlight Electronics
LG Innotek
Key Questions Answered in This Report
1. What was the size of the global LED panel light market in 2022?
2. What is the expected growth rate of the global LED panel light market during 2023-2028?
3. What are the key factors driving the global LED panel light market?
4. What has been the impact of COVID-19 on the global LED panel light market?
5. What is the breakup of the global LED panel light market based on the application?
6. What are the key regions in the global LED panel light market?
7. Who are the key players/companies in the global LED panel light market?
Table of Contents
137 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1Objectives of the Study
- 2.2Stakeholders
- 2.3Data Sources
- 2.3.1Primary Sources
- 2.3.2Secondary Sources
- 2.4Market Estimation
- 2.4.1Bottom-Up Approach
- 2.4.2Top-Down Approach
- 2.5Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1Overview
- 4.2Key Industry Trends
- 5 Global LED Lighting Industry
- 5.1Market Overview
- 5.2Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3Impact of COVID-19
- 5.4LED Panel Light Market
- 5.5Market Breakup by Region
- 5.6Market Breakup by Application
- 5.7Market by LED Products: LED Lamps, Modules and Fixtures
- 5.7.1Current and Historical Market Trends
- 5.7.2Market Forecast
- 5.8Market Forecast
- 5.9SWOT Analysis
- 5.9.1Overview
- 5.9.2Strengths
- 5.9.3Weaknesses
- 5.9.4Opportunities
- 5.9.5Threats
- 5.10Value Chain Analysis
- 5.10.1 Primary Raw Materials Suppliers
- 5.10.2 LED Chip Manufacturers
- 5.10.3 LED Package and Module Manufacturers
- 5.10.4 Lighting Products, Electronic Products and Automotive Part Manufacturers
- 5.10.5 Product Distribution
- 5.10.6 End Users
- 5.11Porter’s Five Forces Analysis
- 5.11.1Overview
- 5.11.2Bargaining Power of Buyers
- 5.11.3Bargaining Power of Suppliers
- 5.11.4Degree of Competition
- 5.11.5Threat of New Entrants
- 5.11.6Threat of Substitutes
- 5.12Key Success and Risk Factors for LED Panel Light Manufacturers
- 5.13 Comparative Analysis of CFL and LED
- 5.14Price Analysis
- 5.14.1Key Price Indicators
- 5.14.2Price Structure
- 6 Performance of Key Regions
- 6.1 India
- 6.1.1Market Trends
- 6.1.2Market Forecast
- 6.2 China
- 6.2.1Market Trends
- 6.2.2Market Forecast
- 6.3 Europe
- 6.3.1Market Trends
- 6.3.2Market Forecast
- 6.4 United States
- 6.4.1Market Trends
- 6.4.2Market Forecast
- 6.5 Japan
- 6.5.1Market Trends
- 6.5.2Market Forecast
- 6.6 Brazil
- 6.6.1Market Trends
- 6.6.2Market Forecast
- 6.7 Russia
- 6.7.1Market Trends
- 6.7.2Market Forecast
- 6.8 Others
- 6.8.1Market Trends
- 6.8.2Market Forecast
- 7 Market by Application
- 7.1Retrofit
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2Retail & Hospitality
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3Outdoor
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4Offices
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5Architectural
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6Residential
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7Industrial
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
- 8 Competitive Landscape
- 8.1Market Structure
- 8.2Market Breakup by Key Players
- 9 LED Panel Light Manufacturing Process
- 9.1Product Overview and Specifications
- 9.2Key Features and Advantages
- 9.3Key Application Areas
- 9.3.1Offices and Conference Rooms
- 9.3.2Hotels and Restaurants
- 9.3.3Showrooms and Malls
- 9.3.4Hospitals and Laboratories
- 9.4Popular Shapes and Sizes
- 9.4.1LED Panel Light Box Series (Square)
- 9.4.2LED Panel Light Slim Series (Round)
- 9.4.3LED Panel Light Slim Series (Square)
- 9.4.4LED Panel Light Slim Series (Rectangular)
- 9.5Design Material Alternatives
- 9.5.1Extruded Aluminium Frame
- 9.5.2Steel Sheet Frame
- 9.5.3Steel Sheet Frame Coated/Finished with White Powder
- 9.5.4Metallized or White Reflector
- 9.5.5Clear or Matted Lens
- 9.6Manufacturing Process
- 9.7Raw Material Requirements
- 9.8Raw Material Pictures
- 10 Project Details, Requirements and Costs Involved
- 10.1Land Requirements and Expenditures
- 10.2Construction Requirements and Expenditures
- 10.3Plant Machinery
- 10.4Machinery Pictures
- 10.5Raw Material Requirements and Expenditures
- 10.6Raw Material and Final Product Pictures
- 10.7Packaging Requirements and Expenditures
- 10.8Transportation Requirements and Expenditures
- 10.9Utility Requirements and Expenditures
- 10.10Manpower Requirements and Expenditures
- 10.11Other Capital Investments
- 11 Loans and Financial Assistance
- 12 Project Economics
- 12.1Capital Cost of the Project
- 12.2Techno-Economic Parameters
- 12.3Product Pricing and Margins Across Various Levels of the Supply Chain
- 12.4Taxation and Depreciation
- 12.5Income Projections
- 12.6Expenditure Projections
- 12.7Financial Analysis
- 12.8Profit Analysis
- 13 Key Player Profiles
Pricing
Currency Rates
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