Lighting equipment characterize as construction equipment or hand-held tools that generally includes line trimmers, wheel barrows, handsaws, and post-hole diggers. It also includes various lighting elements (fluorescent lamps [CFL], incandescent bulbs, halogen incandescent bulbs, light emitting diodes [LED]), high intensity discharge [HID] bulbs, and their fixtures & accessory components and products used to provide the illumination & artificial lighting. With various lighting elements commanding noteworthy global markets, there are different manufacturing processes & supply chains for each lighting element technology.
Lighting tools are basically categorized into three major categories: light sources, modifiers that control the spread of light, and grips that support the lights. Growing urbanization is encouraging the market to grow. Newer innovations & developments of products for instance LED that support the green initiatives, are few other factors driving the growth of the global LED lighting equipment market. Lighting equipment is basically used across workplaces, homes, shops, roads, airports, hospitals, and sports stadiums. Manufacturing organizations also use lighting equipment in products like household appliances and other electronic gadgets. All these driven factors will ensure the market’s growth during the coming years. Apart from this, high competition in the market due to presence of various players is one of the factors hindering the growth of the market. Additionally, high cost of the technologically advanced LED lighting equipment becomes a defined problem for price sensitive consumers.
As per analysis, “Global Light Emitting Diodes Lighting Equipment Market Status (2015-2019) and Forecast (2020-2024) by Region Product Type & End-Use” some of the renowned companies operating in the global light emitting diodes lighting equipment market include Cooper Industries, GE Lighting, Samsung, ARRI Group, Nichia, OSRAM, Philips lighting, Cree, EKTA, Toyoda Gosei and among others. Renowned players in this industry manufacture the electric light bulbs & tubes as well as lamp shades, lighting fixtures, and other components & parts.
Based on type, light emitting diodes lighting equipment market is segmented as fixed general lamps, embedded lights, aquarium lamps, portable general purpose lamps and power outlet mounted nightlights. In addition, based on application, market is segmented as display screen, general lighting, backlight source, electronic equipment and others.
Growth in adoption of energy-efficient lighting solutions, followed by increase in adoption of smart lighting products are some major factors, which are responsible for growth of the light emitting diodes lighting equipment market. Apart from this, high initial investment & development of alternative technologies is a major hindering factor for market.
Based on regional analysis, the North-America and Asia-Pacific regions hold major share in global light emitting diodes lighting equipment market owing to growth in construction & infrastructural development coupled with surge in population across the region. The Europe region is estimated to exhibit considerable growth rate due to increase in government initiatives for the deployment of smart lighting products ad toughening regulations for energy efficiency over the forecast period. It is anticipated that future of the global light emitting diodes lighting equipment market will be optimistic on account of growth in adoption of smart lighting products and strong government focus on developing smart cities during the forecast period.
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Ankur Gupta, Head Marketing & Communications