Coxreels has launched a new line of three industrial duty LED lights which are now accessible on the power cord reels. These new LEDs have a 50,000-hour rating, internal light diffusers and shatter repellent lenses made of polycarbonate, which makes them perfect for industrial applications.
Nichia Corporation, a chief manufacturer of LEDs and connected materials, has filed an infringement lawsuit against Corlant Inc., a merchandiser of automotive LED lamps under the brand name Valenti, in the Tokyo District Court.
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Market Drivers and Restraints:
In the continuously emerging technological world, instead of using the conventional tungsten bulbs, LEDs are far better and much more cost useful source of light. Also, the use of LEDs as decor in automobiles has elevated the demand for the LED materials, charging the market growth in the forecast period. Nevertheless, the centralization of the global market in the Asia Pacific region decreases the chances of market development over the globe.
At the end of 2018, the market size of Global LED Materials was around USD 9.46 billion by revenue. It is estimated to grow at CAGR of 9.92 % to reach USD 15.18 billion by 2023.
Report segmented as:
The wafer segment is expected to rule the global market in the forecast period, due to the interest in companies in moving from four and two-inch wafer sized LED to the more cost effective eight and six-inch wafer LED production.
The general lighting sector is to conquer the global market due to its massive number of applications in the industrial, household and outdoors like floodlights and street lights.
Middle-East & Africa
The largest global market share was overtaken by the Asia Pacific in the year 2018 and is anticipated to be a rapid-growing market in the forecast period. On the other hand, Europe and North America have a lower market value than the Asia Pacific.
Due to the low contribution and being in low developing countries, the regions, Middle East & Africa have fewer chances for industry growth.
Key Market Players:
Koninklijke Philips N.V.
Reggiani Spa Illuminazione
OSRAM Licht AG
OPPLE Lighting Co. Ltd.
Endo Lighting Corp.
Global Light LLC
GE Lighting Solutions
Lumileds Holding B.V.
Bright Special Lighting S.A.
Lumens Co., Ltd.
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The Scope of the report:
This report offers the current product & services market evaluation and the future estimations of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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