LED Retrofit Market Forecast 2018 - 2026

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LED Retro몭t Market Overview, Manufacturing Cost Structure Analysis, Growth Opportunities By 2026 July 1, 2021

By Zaraki Kenpachi -

The global LED retro몭t market was valued at US$ 2,046.7 Mn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 9.25% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “LED retro몭t Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The LED retro몭t market is expected to grow signi몭cantly due to increased cost e몭ciency and long life duration. The report suggests that the prominent adoption of LED lighting is expected to boost the LED retro몭t market at the global level for the forecast period of 2018-2026. Additionally, LED based solutions are gaining popularity in residential and commercial applications, which holds a signi몭cant share in the market. Furthermore, multiple states of the U.S. have adopted LEDs due to these large number of bene몭ts. For instance, in April 2017, General Electric, a leading lighting solutions company, published a report stating that multiple states have adopted LEDs on a signi몭cant scale namely- Seattle, Washington- 35.5% and Minneapolis, Minnesota 32.9% leading the way. Such initiatives are expected to have a positive impact on the global LED retro몭t market.

Get sample copy at: https://www.transparencymarketresearch.com/sample/sample.php? 몭ag=S&rep_id=43124 Temperature issues with LED to hinder growth of the global LED retro몭t market LED retro몭t lights can su몭er a signi몭cant drop in performance or even face mechanical failure, due to the temperature issues associated with LEDs, as growth of LED retro몭t is directly dependent on the growth of LEDs. In 2016, the American Medical Association (AMA) in the U.S. adopted an o몭cial policy statement about street lighting: “Cool it and Dim it.” Within the statement, AMA discussed issues related to LEDs such as the high color temperature owing to the blue light content in LED. Alternatively, they suggested using LED’s with appropriate blue light content to boost the adoption of LED in the U.S. Prominent adoption of linear LED retro몭ts in street lighting and residential sector On the basis of application, the LED retro몭t market is segmented into residential, commercial, industrial, and others. Additionally, on the basis of type, the global LED retro몭t market is divided into indoor and outdoor. The outdoor segment is predicted to expand at a signi몭cant CAGR over the forecast period. Increasing adoption of LED in street lighting applications across the globe is a primary factor for the growth of the outdoor LED retro몭t market. For instance, Norway has adopted smart street lights that dim to 20%in the absence of cars nearby. The market in the industrial sector is expected to grow at the highest CAGR over the forecast period from 2018 to 2026. However, the residential sector holds a prominent share for the year 2026, as adoption of linear LED retro몭t lights in households around the globe is continuously increasing. Asia Paci몭c is the fastest growing region for the LED retro몭t market

Asia Paci몭c is the fastest growing region for the LED retro몭t market In terms of growth, Asia Paci몭c is expected to witness highest CAGR growth over the forecast period. The factors contributing to the growth in Asia Paci몭c is the rising adoption of LED across the region due to continuous increasing population. The rising adoption level of LED is expected to fuel the growth of the linear LED retro몭t market in the region. Furthermore, multiple initiatives taken by government bodies in the region are anticipated to boost the LED retro몭t market during the forecast period 2018-2026. For instance, in 2017, as per the “Street Light National Programme” of the Indian government, 2,100 thousand LED’s were installed across India. Furthermore, the growing adoption of smart cities in developed countries like Japan is having a prominent impact on the LED retro몭t market. Key Players such as OSRAM Licht Group, Philips Lighting Holdings B.V., General Electric Company, Cree Inc., and Eaton are likely to lead the global LED retro몭t market Philips Lighting Holdings B.V., OSRAM Licht Group, Fulham Co., Inc., Tridonic, General Electric Company, Eaton, and Cree Inc. among others are some of the major players operating within the LED retro몭t market pro몭led in this study. Various market players are establishing partnerships, and entering into strategic M&A to enhance the LED retro몭t o몭erings worldwide. For instance, in November 2017, Osram’s Digital Lumens formed a partnership with Industrial Lighting Products, a prominent manufacturer of energy-e몭cient luminaries and retro몭t solutions, which can help the growth of retro몭t solutions by OSRAM Licht Group. The global LED retro몭t market has been segmented as follows: Global LED Retro몭t Market, by Application Residential Commercial Industrial Others Global LED Retro몭t Market, by Type Indoor

Indoor Outdoor Global LED Retro몭t Market, by Functionality Dimmable Non-dimmable Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php? rep_id=43124&ltype=S About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always re몭ects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Transparency Market Research, 90 Sate Street, Suite 700, Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com Previous articleRemote Browser Market Global Business Growth, Demand, Trends, Key Players

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Zaraki Kenpachi