Solid State Lighting Market to hit $85 bn by 2024 - PowerPoint PPT Presentation

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Solid State Lighting Market to hit $85 bn by 2024


More Information @ Global LED-based SSL market size is poised to surpass USD 80 billion by 2024 pertaining to their low power consumption and rising demand for high brightness LEDs. These products are used in panel indicators, automotive lamps and large display screens which may boost solid state lighting market size. – PowerPoint PPT presentation

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Title: Solid State Lighting Market to hit $85 bn by 2024

SSL Market to reach 85 bn by 2024 Global Market
Insights Inc.
Industry Overview
  • Solid State Lighting Market to surpass USD 85
    billion by 2024 driven by government initiatives
    for the development of smart cities. Rapid
    urbanization industrialization primarily in
    Malaysia, and China have increased the focus on
    energy-efficient lighting to reduce GHG emissions
    and improve bulbs life may contribute to solid
    state lighting market demand. These products
    provide high energy efficiency and less heat
    generation as compared to incandescent lamps
    thereby leading to reduction in carbon emissions.
  • High efficiency, improved battery life, and
    design flexibility are contributing to rising
    solid state lighting usage in automotive lighting
    applications. Additionally, increasing usage of
    solid state lighting technology in high, mid and
    low-end cars pertaining to cost standardization
    and optimization may further propel solid state
    lighting market. Rising high-brightness LEDs
    demand for providing high visibility
    differentiation is likely to boost the market.
  • Ban on energy-inefficient lighting products such
    as incandescent and halogen bulbs majorly in the
    U.S., Germany, France and UK is likely to
    significantly boost solid state lighting market
    growth. For instance, EU ban on incandescent,
    halogen bulbs CFL lamps is further promoting
    the usage of LED bulbs in the region. Regulations
    against incandescent bulb import, manufacture or
    sale for general illumination applications is
    estimated to significantly expand the market size
    up to 2024.

  • Europe OLED based solid state lighting market
    size may register gains close to 11 by 2024.
    Declining prices due to reduction in
    manufacturing costs and increasing demand for
    sustainable energy-efficient lighting products
    are predicted to boost market growth.
  • Phosphides nitrides of aluminum, gallium and
    indium are the major raw materials used in
    manufacturing of solid state lighting products.
    High manufacturing cost owing to expensive raw
    materials and low emission efficiency will be a
    major challenge and may pose a high threat for
    the solid state lighting industry growth.
  • Germany LED based solid state lighting market
    share from industrial applications is poised to
    exceed USD 2.5 billion over the foreseeable time
    period. They are widely used in the automotive
    sector due to its cutting-edge design which in
    turn enhances cars aesthetic look and style.
  • U.S. LED market size from outdoor applications
    may witness significant gains at about 12.5 by
    2024 owing to declining streetlight LED prices
    and rising government focus on energy efficient
    products. The progress of LED outdoor lighting
    market from a nascent to a mature stage along
    with replacement of decorative streetlights in
    various cities such as Las Vegas, Los Angeles and
    New York to achieve energy cost reduction will
    further stimulate market growth.


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State Lighting Market _at_ https//
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SSL Market

U.S. Solid State Lighting Market Size, By
Technology, 2017 2024, (Million Units)

Industry Coverage

  • China OLED based solid state lighting market
    revenue from architectural applications may
    witness significant gains over the foreseeable
    timeframe. They are mainly used for decoration
    purpose, buildings structure illumination and
    signage backlighting owing to its diffused output
    and low luminance.
  • General Electric, OSRAM, Koninklijke Philips, and
    Cireon are the prominent industry participants in
    the solid state lighting market. Companies are
    concentrating on innovative strategies to improve
    color rendition and achieve cost advantages in
    addition to indulging in acquisitions
    collaborations to complement their product
    portfolio which may stimulate solid state
    lighting industry demand.

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