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According to the latest report by IMARC Group, titled “China LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the China LED market is expected to exhibit a CAGR of 21% during 2022-2027.
A LED or light-emitting diode refers to a semiconductor device that generates non-coherent and narrow-spectrum light when an electric current passes through it. As compared to conventional lighting products, it offers various benefits, including longer shelf life, higher efficiency, reliability, improved dimmability, compact size, low heat output, minimum radiation emission, less power consumption, etc. Furthermore, a LED is commonly available in a wide array of sizes and can be installed in any circuit type. Presently, it is replacing incandescent and fluorescent lights across China.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
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The widespread product adoption that provides optimum luminous efficacy and the growing consumer awareness towards sustainable development are primarily driving the China LED market. Additionally, the increasing levels of urbanization, local energy savings targets, and minimized prices are stimulating the market growth. Apart from this, government bodies in this country are offering large-scale subsidies to promote the utilization of LED lighting for better service life at less wattage, which is acting as another significant growth-inducing factor. Moreover, the inflating popularity of LED technology that is combined with exterior area lighting, including street lights, to provide a secure and connected city lighting network is also stimulating the market growth. Besides this, the rising investments in R&D activities aimed at developing smart lighting systems are anticipated to fuel the China LED market over the forecasted period.
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China LED market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players: The competitive landscape of the China LED market has been studied in the report with the detailed profiles of the key players operating in the market. Key Market Segmentation: The report has segmented the China LED market on the basis of product type, application, installation type and region. Breakup by Product Type: Panel Lights Down Lights Street Lights Tube Lights Bulbs Others Breakup by Application: Commercial Residential Institutional Industrial Others Breakup by Installation Type: New Installation Retrofit Installation Breakup by Region: Guangdong Jiangsu Shandong Zhejiang Henan Others Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1212&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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