DUBLIN — The “Global LED Tube Light Market Report by Tube Type, Application, and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global LED tube light market size reached US$ 4.2 Billion in 2023. Looking forward, the market is projected to reach US$ 9.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.49% during 2023-2032.
With the inflating prices of electricity around the world, consumers are shifting from compact fluorescent lights (CFLs) to LED tube lights. This is further supported by awareness campaigns and policies for energy conservation and environmental protection by governments in various countries. On the other hand, manufacturers are coming up with different LED lighting products and investing in marketing through newspapers and televisions, which is increasing product awareness among consumers.
Furthermore, strong demand for LED tube lights is emerging from the corporate sector as they offer better ambiance lighting, enhanced controls, and reduced maintenance costs. They are also widely being used in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics, and street lighting, which is stimulating market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global LED tube light market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on tube type and application.
Breakup by Tube Type:
- T5
- T8
- T12
- Others
Breakup by Application:
- Residential
- Office
- Industrial
- Hospitality
- Others
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being Acuity Brands Inc., Eaton Corporation PLC, Foshan Electrical and Lighting Co. Ltd., Iris Ohyama Inc., Koninklijke Philips N.V., LEDVANCE GmbH (MLS Co. Ltd.), Opple Lighting, Panasonic Life Solutions India Pvt. Ltd. (Panasonic Corporation), Savant Technologies LLC, Toggled (Altair Engineering Inc.), Yankon Lighting and Zumtobel Group.
Key Questions Answered in This Report
- What was the size of the global LED tube light market in 2023?
- What is the expected growth rate of the global LED tube light market during 2024-2032?
- What are the key factors driving the global LED tube light market?
- What has been the impact of COVID-19 on the global LED tube light market?
- What is the breakup of the global LED tube light market based on the tube type?
- What is the breakup of the global LED tube light market based on the application?
- What are the key regions in the global LED tube light market?
- Who are the key players/companies in the global LED tube light market?
For more information about this report visit https://www.researchandmarkets.com/r/bmbqje
Tagged with LED, lightED