
LED for Work Market
LED for Work Market Global Industry Assessment & Forecast
Segments Covered
By Product Portable LED Lighting, Fixed LED Lighting, Others
By Application Residential, Commercial, Utility
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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81.74 Billion |
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192.62 Billion |
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11.31 |
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North America |
Customization Offered
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
Others Request Customization Speak To Analyst
Key Insights
The global LED for Work market was valued at USD
81.74 Billion in 2020 and is projected to reach USD 192.62 Billion by
2028, growing at a CAGR of 11.31% from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 192.62 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 11.31% |
Definition And Overview
A light-emitting diode (LED) is a semiconductor light source that emits light when current flows through it. The
global LED for Work market was valued at USD 81.74 Billion in 2020 and is
projected to reach USD 192.62 Billion by 2028, growing at a CAGR of 11.31%
from 2021 to 2028.
The
global LED for Work market is segmented into product, application, regions, and
countries. The regional segmentation covers current and forecasts demand on the
basis of North America, Europe, Asia Pacific, Latin America, and Middle East
& Africa. All the segments are analyzed on the basis of current and future
trends. The report covers a complete evaluation of the market based on competition,
drivers, restraints, opportunities, trends, and industry-authenticated data. The
market is estimated from 2016 to 2020 and forecast from 2021 to 2028.
COVID-19 Impact Analysis
Outbreak
of COVID-19 led various countries impose strict lockdown measures during the initial
stages of the pandemic. Numerous companies from different verticals faced
challenges due to remote work environments. As a result, companies from various
sectors switched to online/virtual platforms to maintain a steady flow in their
daily business activities. Impact of COVID-19 on the market demand is
considered while estimating the current and forecast market size and growth
trends for all the regions and countries. The
report provides a completely separate chapter for COVID-19 Impact Analysis.
This chapter includes: o Impact Assessment of COVID-19
Pandemic o Pre & Post COVID-19
Market Size o Qualitative analysis on the
short term & long term impact of COVID-19 on the market
o
The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Market Insights
The high demand for led lighting driven by the modernization and development of infrastructure such as smart cities is expected to augment the growth of the market during the forecast period.
The increasing need for energy-efficient lighting systems is anticipated to augment the growth of the market over the forecast period.
The lack of awareness regarding installation costs and payback periods is expected to hamper the growth of the market over the forecast period.
Global LED for Work Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Product, Application |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | LG Innotek, Nichia, TOSHIBA, Cree, Osram, Philips Lumileds, Toyoda Gosei, Seoul Semiconductor, Everlight, Agilent, Vishay, Epistar, Bosch, Kingbright, MICROPLUS GERMANY. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
Product Analysis: Preview On the basis of Product,
the market is segmented into Portable LED Lighting, Fixed LED Lighting, Others,. Portable LED Lighting held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the Portable LED Lighting
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the LED for Work
market growth. Application
Analysis: Preview
Based on Application,
the market is segmented into Residential, Commercial, Utility,. Commercial held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for LED for Work in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global LED for Work Market: Product Segment Analysis
-
- Portable LED Lighting
- Fixed LED Lighting
- Others
Global LED for Work Market: Application Segment Analysis
-
- Residential
- Commercial
- Utility
Regional Analysis Preview
On the basis of region, the global LED for Work market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held a leading share of the global LED for Work market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. US is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.
Market Size, 2021 (USD Billion)
Global LED for Work Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global LED for Work market are LG Innotek, Nichia, TOSHIBA, Cree, Osram, Philips Lumileds, Toyoda Gosei, Seoul Semiconductor, Everlight, Agilent, Vishay, Epistar, Bosch, Kingbright, MICROPLUS GERMANY.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
Key Highlights – Global LED for Work Market
FAQ
Frequently Asked Question
What is the global demand for LED for Work in terms of revenue?
-
The global LED for Work valued at 81.74 Billion in 2020 and is expected to reach 192.62 Billion in 2028 growing at a CAGR of 11.31%.
Which are the prominent players in the market?
-
The prominent players in the market are LG Innotek, Nichia, TOSHIBA, Cree, Osram, Philips Lumileds, Toyoda Gosei, Seoul Semiconductor, Everlight, Agilent, Vishay, Epistar, Bosch, Kingbright, MICROPLUS GERMANY..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 11.31% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the LED for Work include
- The high demand for led lighting driven by the modernization and development of infrastructure such as smart cities is expected to augment the growth of the market during the forecast period.
- The increasing need for energy-efficient lighting systems is anticipated to augment the growth of the market over the forecast period.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the LED for Work in 2020.