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Energy-Efficient Lighting Technology Market was valued at US$ 202.58 Bn in 2021 and is expected to reach US$ 323.26 Bn by 2027, at a CAGR of 8.1% during a forecast period.
Energy-Efficient Lighting Technology Market Overview:
The Energy-Efficient Lighting Technology market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Energy-Efficient Lighting Technology Market, as well as the reasons for variations in the industry's growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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Segmentation:
Based on product type, Light-Emitting Diodes (LEDs) are expected to see maximum growth in the global energy-efficient lighting technology market due to their swift uptake on the back of surging popularity. This is because they are available in a range of customized shapes for both commercial and residential purposes. The gas discharge lamps are another promising segment that is projected to expand at a healthy clip. Linear Fluorescent Lamps (LFL and) Compact Fluorescent Lamps (CFL) are predicted to be the main drivers of this product type segment.
Also, Asia Pacific follows the European market by the second position in terms of market size vis-à-vis revenue. The Swift pace of economic growth in the market resulting in mega-urban projects and supportive government policies have made the region lucrative for manufacturers. By registering a CAGR of 8.1% over the course of the forecast period, the market in the Asia Pacific is expected to gross revenue of an approx. US$323.26 Bn by the future.
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Key Players:
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
. The biggest players in the Energy-Efficient Lighting Technology market are as follows:
• Cree, Inc.
• Digital Lumens, Inc.
• LIGMAN Lighting Co., Ltd.
• Eaton Corporation
• General Electric Co.
• LED Roadway Lighting Ltd.
• Nichia Corporation
• OSRAM Licht Group
• Philips Lighting Holding B.V.
• Toshiba Lighting & Technology Corporation
• Zumtobel Group AG.
• GE Lighting
• Cooper Lighting
Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Energy-Efficient Lighting Technology market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Energy-Efficient Lighting Technology Market:
Due to a break in operations, end-user sectors where Energy-Efficient Lighting Technology are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Energy-Efficient Lighting Technology manufacturers, impacting the growth of the Energy-Efficient Lighting Technology market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Energy-Efficient Lighting Technology .
Key Questions Answered in the Energy-Efficient Lighting Technology Market Report are:
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