Global LED Lighting Market TOC
Japanese Players
APEJ Market Forecast
The Asia Pacific LED lighting market is poised to dominate 41% revenue share by 2037, growing at a largest CAGR of 26.4% over the projected period. The market has been stimulated by the increasing need for LED lighting from the residential sector, particularly in China, India, and South Korea. Additionally, the swift expansion of the APAC market can be attributed to continuing infrastructure modernization initiatives in developing nations including China and India, where governments have encouraged the creation of numerous smart cities.
European Market Analysis
The LED lighting market in Europe is also expected to expand substantially over the forecast period. To promote the use of energy-efficient lighting solutions, Europe has put in place strict laws and standards. For instance, the European Commission has endorsed a regulation that will forbid the sale of any fluorescent lighting in the EU after September 2023. Hence, this is projected to influence the market expansion for LED lighting in this region.
Author Credits: Abhishek Verma
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