Outlook on the Light Engine Global Market to 2029 - Asia-Pacific Dominates the Industry - ResearchAndMarkets.com
October 27, 2021 at 09:20 AM EDT
The "Light Engine Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.
Globally, the light engine market is expected to grow with a CAGR of 12.9% during the forecast period from 2021 to 2029 and had been estimated to register a market value of US$ 56.08 Bn by 2029.
Rising urbanization has led to technological advancement which is offering new technologies and products to the consumers and industries. Light engine are similar to the LEDs mounted on a board. The light engine drives the LEDs by managing thermals, providing protection, and regulating power. There are various benefit of light engine such as reduction in cost as these engines are connected directly to the main power by eliminating the external power supply.
Moreover, due to their direct connectivity the design of these engines is more flexible. Addiitonally, the reduction in cost of the semiconductor equipments plays a vital role in the growth of the market globally. Also, increasing adoption of flexible light engines in residential and commercial area is also prominently expanding the market in coming years. However, limited awareness regarding the installation costs, and rapid development of alternative technologies are likely to hinder the growth of this market during the forecast period.
In the year 2020, the overall light engine market was dominated by the indoor lightning segment in its industry size segment accounting for more than 55.0% of the market revenue and is expected to grow with a significant CAGR during the forecast period. The rising in urbanization and development in the infrastructure globally are considered as the major factors driving the market globally. The rise in population and increasing need for homes an apartments is also fuelling the growth of the market.
The global light engine market was led Asia-Pacific with a market share than of more 30.0% in the year 2020. The rising adoption of energy efficient technology and development in the infrastructure in the region is expected to drive the market globally. Moreover, based on countries the region has been segmented as China, Japan, India and rest of Asia-Pacific. The China accounts the largest share in the region due to increasing investments made by the government and private sector for the development of infrastructure and adoting power saving technologies.
Key questions answered in this report
Unique data points of this report
Key Topics Covered:
2. Executive Summary
3. Market Dynamics
3.1.1. Global LE Market Value, 2019-2029, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2020
3.4. Market Positioning of Key Players, 2020
3.4.1. Major Strategies Adopted by Key Players
4. Global Light Engine (LE) Market, by Product Type, 2019-2029 (US$ Bn)
5. Global Light Engine (LE) Market, by Installation Type, 2019-2029 (US$ Bn)
5.2. New Installation
5.3. Retrofit Installation
6. Global Light Engine (LE) Market, by End-Use Application, 2019-2029 (US$ Bn)
6.2. Indoor Lighting
6.3. Outdoor Lighting
6.3.1 Highways & Roadways Lighting
6.3.2 Architectural Lighting
6.3.3 Lighting for Public Places
7. North America Light Engine (LE) Market Analysis, 2019-2029 (US$ Bn)
8. Europe Light Engine (LE) Market Analysis, 2019-2029 (US$ Bn)
9. Asia Pacific Light Engine (LE) Market Analysis, 2019-2029 (US$ Bn)
10. Rest of the World Light Engine (LE) Market Analysis, 2019-2029 (US$ Bn)
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ol4fbu