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LED Lamp Market Share

Report ID: GMI1565
Published Date: Aug 2024
Report Format: PDF

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LED Lamp Market Share

Major players operating in the LED lamp industry are:

Philips Lighting (Signify)
Osram
GE Lighting
Cree, Inc.
Samsung Electronics
LG Innotek
Acuity Brands
Eaton Corporation

Key players in the market are actively solidifying their positions and driving growth through diverse strategies. These firms are channeling significant resources into R&D to advance LED technology. Strategic partnerships and acquisitions further enhance their product portfolios and market reach. Noteworthy is Nichia's recent move, establishing a cutting-edge production facility in Japan, underscoring the industry's trend towards advanced manufacturing. These facilities not only boost production capacity but also drive down costs. Augmenting these initiatives are robust marketing campaigns, focusing on brand visibility and consumer preference. Additionally, a strong emphasis on sustainability and adherence to environmental regulations aligns with the global push for eco-friendly solutions, fortifying the market's outlook.

Authors: Suraj Gujar, Saptadeep Das

Frequently Asked Questions (FAQ) :

The LED lamp industry was valued at USD 32.89 billion in 2023 and is anticipated to record a CAGR of over 11% between 2024 & 2032, as they offer superior electricity-to-light conversion rate that reduces energy consumption.

The outdoor lighting segment of LED lamp industry accounted for a CAGR of over 13% between 2024 and 2032, propelled by the increasing adoption of smart outdoor lighting systems and a growing emphasis on energy-efficient urban infrastructure.

North America LED lamp market accounted for a revenue share of over 38% in 2023, driven by the government mandates of phasing out incandescent bulbs and a strong push for energy-saving solutions.

Philips Lighting (Signify), Osram, GE Lighting, Cree, Inc., Samsung Electronics, LG Innotek, Acuity Brands, and Eaton Corporation among others.