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Global LED Retrofit Market Predictions Through 2030

Global LED Retrofit Market Predictions Through 2030

NEW YORK, N.Y. — announces the release of the report “Global LED Retrofit Industry” —

Global LED Retrofit Market to Reach $5.6 Billion by 2030

In the changed post-COVID-19 business landscape, the global market for LED Retrofit estimated at US$3.1 Billion in the year 2022, is projected to reach a revised size of US$5.6 Billion by 2030, growing at a CAGR of 8% over the period 2022-2030. Indoor, one of the segments analyzed in the report, is projected to record 7.7% CAGR and reach US$3.9 Billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the Outdoor segment is readjusted to a revised 8.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $867.5 Million, While China is Forecast to Grow at 12.1% CAGR

The LED Retrofit market in the U.S. is estimated at US$867.5 Million in the year 2022. China, the world’s second-largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 12.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

Select Competitors (Total 11 Featured)
– Cree, Inc.
– Eaton Corporation PLC
– Fulham Co., Inc.
– General Electric Company
– Osram Licht AG
– Philips Lighting NV
– Tridonic GmbH & Co KG

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