Skip to main content

Global LED Retrofit Market to rise at a CAGR of 9.25% by 2026

LED Retrofit Market  

The global LED retrofit 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 retrofit Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The LED retrofit market is expected to grow significantly due to increased cost efficiency and long life duration. The report suggests that the prominent adoption of LED lighting is expected to boost the LED retrofit 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 significant share in the market. Furthermore, multiple states of the U.S. have adopted LEDs due to these large number of benefits. For instance, in April 2017, General Electric, a leading lighting solutions company, published a report stating that multiple states have adopted LEDs on a significant 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 retrofit market. 
Planning To Lay Down Future Strategy? Request Sample https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43124

Temperature issues with LED to hinder growth of the global LED retrofit market
LED retrofit lights can suffer a significant drop in performance or even face mechanical failure, due to the temperature issues associated with LEDs, as growth of LED retrofit is directly dependent on the growth of LEDs. In 2016, the American Medical Association (AMA) in the U.S. adopted an official 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 retrofits in street lighting and residential sector
On the basis of application, the LED retrofit market is segmented into residential, commercial, industrial, and others. Additionally, on the basis of type, the global LED retrofit market is divided into indoor and outdoor. The outdoor segment is predicted to expand at a significant 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 retrofit market. 
Curious? Request To Access Market Data LED Retrofit Market

Asia Pacific is the fastest growing region for the LED retrofit market
In terms of growth, Asia Pacific is expected to witness highest CAGR growth over the forecast period. The factors contributing to the growth in Asia Pacific 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 retrofit market in the region. Furthermore, multiple initiatives taken by government bodies in the region are anticipated to boost the LED retrofit 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 retrofit 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 retrofit 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 retrofit market profiled in this study. Various market players are establishing partnerships, and entering into strategic M&A to enhance the LED retrofit offerings worldwide. For instance, in November 2017, Osram’s Digital Lumens formed a partnership with Industrial Lighting Products, a prominent manufacturer of energy-efficient luminaries and retrofit solutions, which can help the growth of retrofit solutions by OSRAM Licht Group.
More Trending Reports by Transparency Market Research –  

Labels:

Comments

Post a Comment

Popular posts from this blog

Internet of Things Testing Market: Latest Trends and Forecast Analysis up to 2025

The Internet of things (IoT) represents a giant network of interconnected devices or things that are embedded in the existing internet infrastructure. These things can include a variety of objects such as electronics devices, vehicles, equipment, sensors, and consumer appliances. The concept may signify the sharing of data and information with people and animals connected to the infrastructure in near-real time. The proliferation of connected devices and the soaring popularity of IoT among enterprises in developed and developing nations have led to the pressing need for  Internet of Things testing  mechanisms. Developing an effective IoT testing mechanism foregrounds evaluating key aspects such as compatibility and usability of the interconnected devices, security of the network, the connectivity, and overall performance of the system. Furthermore, enterprises implementing IoT should take into account the integration of new devices and technologies with the existing network. A number
Post a Comment
Read more

Low Power Display Market: Projection of Each Major Segment over the Forecast Period 2017 - 2025

  Low power display technology is treated separately from our modern world. High resolution displays with low power are considered by many consumers to represent the low power display technology. The development in optoelectronics and nanotechnology has changed the low power display market . The low power display market consumes of less power than plasma technologies and cathode ray tube (CRT). Low-power features have become essential for liquid crystal displays (LCDs) due to environmental concerns. The technology that saves energy by decreasing the power consumption of the backlight unit in a display panel is considered in in low power display technology.  A low refresh-rate technology was introduced in order to further minimize power consumption in the display panel. The low refresh-rate was achieved by employing oxide thin-film transistors (Ox-TFTs) with extremely low leakage currents. However, flicker may be visible due to the current leakage through the liquid crystal (LC
Post a Comment
Read more

Noise Suppression Components Market: Granular View of The Market from Various End-Use Segments

Noise suppression refers to the methods of reducing and eliminating the effects of unwanted and undesirable sound effects and electrical disturbances which occurs when the level of signal carrier is greater than the noise level. Noise causes intrusion in many electrical devices. However, there are rules to suppress noise, because noise which does not affect a particular electrical device may affect some other electrical device. Further, an electronic device is known as ‘emission’ if it is itself the source of unwanted noise and it is referred to as immunity if the concerned electronic device is the victim of unwanted noise. Electromagnetic interference (EMI) and electromagnetic compatibility (EMC) has made the issue of noise suppression important. Some of the examples of noise suppression components are electromagnetic interference suppression filter which is an electronic component which provides electromagnetic noise suppression techniques for electronic goods. The function of the e
Post a Comment
Read more