Title: Global LED Lighting Market Trends
1Global LED Lighting Market
2Global electricity consumption has been
increasing rapidly in several industrial and
residential sector. Due to the industrial
revolution and shift in consumer preference
toward better infrastructure, technology
gadgets and lifestyle. Owing to rising demand for
electricity and depleting natural resources such
as coal, oil, etc. electricity cost is also
increasing. According to International Energy
Agency (IEA) lighting accounts for over 19.1 of
global electricity consumption and creates 1.9
billion tons of CO2 emissions annually. Switch to
LED lighting will help in saving average 50 in
energy costs, which results in global savings of
USD 160 billion and 1.5 billion barrels of oil
every year thereby diminishing prices of LED
lighting will propel the demand for
LED lightning over the years. According to a new
market report published by BlueWeave Consulting,
The Global LED lighting Market was valued at US
34.0 Bn in 2017 and is expected to expand at a
CAGR of 13.7 from 2018 to 2025, reaching US
98.4 Bn by the end of the forecast period.
3The growing need among consumer for energy
efficient lighting systems for various purposes
is driving the Global LED Lighting market. Rising
urban population and consumer shift
towards energy efficient lighting system will
positively drive the LED lighting Market. Since
the scarcity of natural resources and costs of
energy are increasing, LED lighting is among the
most cost-effective products to reduce the
depletion of natural energy resources. The demand
for energy-efficient lighting systems is
increasing across residential, commercial, and
industrial sectors due to growing industrialisatio
n across the globe, increase in residential areas
with better interior decorations owing to the
changing lifestyle of people. The lower cost of
operation along with reduced heat losses makes
them the appropriate replacement for incandescent
lights. Significant reductions in the price of
LED lighting systems in recent years have
enhanced the adoption of various LED lighting
products worldwide. Get the Sample Copy of the
Reporthttps//www.blueweaveconsulting.com/led-lig
hting-marke/report-sample