Laidishine Logo-04

LED Market To Garner $192.7 Bn, Globally, By 2030 At 8.2% CAGR

LED Lighting Application-News Cover

Share This Post

Allied Market Research recently published a report, titled, “LED Market by Product (LED Lamps, LED Fixtures), by Applications (Indoor Lighting, Outdoor Lighting), by End User (Industrial, Commercial, Residential, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030.” As per the report, the global LED industry was accounted for $78.69 billion in 2020, and is expected to reach $192.68 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

Major Determinants of the Market Growth

Rise in demand for cost-effective and energy-saving LED lighting and government initiatives toward LED adoption have boosted the growth of the global LED market. However, high initial cost of LED lighting systems and voltage temperature & sensitivity dependence hinder the market growth. On the contrary, increase in need to replace traditional lighting system would open new opportunities in the future.

Low heat and energy-saving are the feature of LED lighting. So if use LED lightings in the refrigerated display case, freezer or under the retail shelves, it can lower the operate cost and maintain the quality of displayed products. How about having a try of our company’s LED lightings?

More To Explore

Want to get the latest market price and advantage of lightning solutions?

drop us a line and keep in touch

Factory News-BG02

Get A Quick Quote

We will respond within 12 hours, please pay attention to the email with the suffix “”

Also, you can go to the Contact Page, which provides a more detailed form, if you have more details for products or would like to obtain a light solution negotiated.

Data Protection

In order to comply with data protection laws, we ask you to review the key points in the popup. To continue using our website, you need to click ‘Accept & Close’. You can read more about our privacy policy. We document your agreement and you can opt out by going to our privacy policy and clicking on the widget.