Start a Business in LED Light Manufacturing Industry

The worldwide LED lighting industry is predicted to develop at a 12.5 percent compound annual growth rate (CAGR). Government rebate and retrofit programmes to stimulate the deployment of LED lighting, as well as strict restrictions prohibiting or restricting the use of inefficient lighting technologies, are all contributing to market growth.

LED lighting is more expensive than incandescent, CFL, and halogen lighting, but it has a longer service life and produces more lumens for less wattage. Furthermore, consistently falling LED bulb and luminaire prices, as well as the availability of smart lighting solutions, together with revised energy legislation around the world, are likely to boost market growth. The term “light-emitting diode” refers to a device that emits light.

LED lighting products, such as fluorescent and incandescent lights, produce light 90 percent more efficiently than incandescent light bulbs. About 95% of the energy in LEDs is turned into light, with only 5% wasted as heat, prompting consumers to choose a more energy-efficient lighting option. The market is divided into distinct LED lighting applications, such as indoor and outdoor lighting, as well as sub-applications. The indoor market is divided into four categories: residential, commercial, industrial, and government. The market is further divided into highway and roadway, architectural, and public places in the outdoor segment.