The market for LED Lighting Solutions Market growing with the expansion of this Industry Sector Worldwide. Market Research Report Search Engine (MRRSE) has added a new report titled “Global Market Study on LED Lighting Solutions: Indoor Applications Projected to be the Most Attractive Segment during 2017–2025”which offer details about the current trends as well as scope for the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned LED Lighting Solutions Market is highlighted in the report which indicates a prosperous future.Obtain Brochure for Latest Technology Advancements @ www.mrrse.com/sample/2906
LED lamps are energy efficient, possess a long lifetime and have a service life of 50,000 hours or more. They are rugged as they consist of a solid material and do not contain any filament or tube that is fragile. LED lamps require no warm up period and they light instantly in nanoseconds. They are also environmentally friendly as they consume less energy and do not contain mercury or any other hazardous substances. Due to these desirable properties of LED, they are ideal in situations where lamps are required to be switched on and off frequently and can be easily dimmed. As LED lamps do not wash out colors like fluorescent lamps, they are perfect for displays and retail applications as well. Besides, LED lighting has zero UV emissions and they can also run on low voltage power supply. Due to these distinct advantages of LED lighting, the global market for LED lighting is expanding at a fast pace and LED lighting has the potential to revolutionize the lighting sector.
The global LED lighting market was valued at nearly US$ 37,000 Mn in 2017 and is expected to touch a figure of nearly US$ 126,000 Mn by the year 2025, registering a CAGR of 16.6% and exhibiting an increase of 3.4X in terms of revenue during the forecast period.
Supportive government regulations are fueling the growth of the global LED lighting market
Due to environmental considerations, governments all across the world are recognizing the advantages of LED lighting systems and are insisting on the implementation of specific standards for lighting products and at the same time restricting the use of incandescent lighting products so that energy can be saved and carbon dioxide emissions can be curbed. Besides, the use of LED lighting leads to an overall cutting of operating costs, and this in turn is driving the growth of the global LED lighting market. To emphasize this trend, reference of the Paris Agreement of December 2015 can be sought, in which more than 190 countries committed to carbon emission cuts of 20% by the year 2020. Also, another pertinent example is of the Chinese government, which banned the use of 100W and 60W incandescent bulbs. Also, on similar lines, the European Union has banned the use of all types of traditional incandescent lighting systems.
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