Product ID: SQMIG45J2152
Report ID:
SQMIG45J2152 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
63 |
Figures:
75
Asia Pacific accounted for a revenue share of over 42.8% in 2021 and is anticipated to witness the highest growth in the coming years. The increased demand for LED lighting solutions from major nations like China, India, Japan, Australia, and South Korea is one of the main drivers of the LED lighting market's expansion in Asia Pacific. Similar to this, the expansion of the LED Lighting Market in the region is also fueled by the rising number of construction projects in the residential, commercial, and industrial sectors of developing economies in Asia and the Pacific, especially Southeast Asian nations.
China is anticipated to dominate the Asia Pacific led lighting market due to its quick industrialization, growing infrastructure, and rising standard of life for its people. Additionally, the expansion of the industry is projected to be fueled by rising government spending on public infrastructure and a steady uptick in construction projects for commercial and industrial buildings.
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REQUEST FREE CUSTOMIZATIONLED Lighting Market size was valued at USD 63.83 billion in 2019 and is poised to grow from USD 70.94 billion in 2023 to USD 168.87 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).
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Product ID: SQMIG45J2152