The future of the global the LED tube light market looks promising with opportunities in the residential and commercial markets. The global LED tube light market is expected to reach an estimated $8.45 billion by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are growing demand for smart city projects and growing usage of LED tube lights in vehicles, mobile devices, signal and signs as they are energy-efficient and provides superior ambient compared to other lights.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the LED tube light market by
tube type (T5, T8, T12, and others), application (residential and commercial),
and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, T5, T8,
and T12 are the major segments of LED tube light market by tube type. Lucintel
forecasts that T8 is expected to witness highest growth over the forecast
period due to its high longevity and durability. Within this market, commercial
will remain the largest segment due to increasing deployment in malls, clubs,
restaurants, and other places.
North America is
expected to witness highest growth over the forecast period due to the
reduction in LED prices, and strict government regulations.
Osram, Syska, Toshiba,
Seoul Semiconductor, Acuity Brands, Havells, and Ideal Industries are the major
suppliers in the LED tube light market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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