![]() North America, Europe, Asia Pacific, Latin America, Middle East and Africa Retrofit, Retail and Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Others Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region ![]() The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global LED panel light market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds: The manufacturers and leading players in the LED panel light market are continuously innovating their products owing to the advancements in the LED technology, which is expected to further aid the industry growth over the forecast period. Moreover, stringent government regulations pertaining to the use of environmentally friendly and sustainable products is providing a boost to the industry. As these lighting solutions consume a negligible amount of electricity, further containing non-hazardous materials such as high-grade extruded aluminum and steel, they are becoming a popular choice for use among consumers. The rising concerns regarding climate change coupled with the growing acceptance of technology are leading to an increased preference for LED panel lights. Owing to these capabilities, LED panel lights have emerged as one of the best led lighting alternatives for indoor settings. Further, the availability of advanced features such as dimmability, remote plug and play drivers, emergency options, motion sensors and timers and compatibility with building controls are primarily driving the global demand for LED panel lights. The good structural design of these panels allows heat and light to dissipate from sides, which further improves their life span. LED panel lights are easy to install, serve as a cost-effective alternative for premium lighting solutions, are available in various designs and materials, and also come in different shapes and sizes such as LED panel lightbox series (square), LED panel light slim series (round), and others. The global LED panel light industry is being supported by rising environmental concerns and growing awareness regarding the benefits of LED lights over traditional lights, such as compact fluorescent and incandescent lamps. The report also covers the major regional markets in the global LED panel light market, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. On the basis of application, the LED panel light market is divided into: Owing to these benefits, LED panel lights are considered one of the best lighting alternatives for indoor settings, rapidly substituting conventional fluorescent ceiling lights and incandescent lamps. These lighting solutions are eco-friendly and have a longer lifespan than traditional lights. It gives uniform light output and demands less maintenance. LED panel light is a kind of lighting fixture that is extremely energy-efficient, long-lasting, and cost-effective. ![]() China is the leading market for LED panel light owing to the rapid urbanisation, strong growth of the economy, and the growing number of malls, hotels, and other commercial complexes in the country. These lighting solutions are extensively adopted across commercial spaces owing to their ability to start instantly, with no-restrike delays, in fast retrofitting situations. The growth of the segment can be attributed to the increasing inclination of the masses towards the retrofitting of existing lighting fixtures with LED lights. Retrofit, among other application segments, leads the market. The rapid technological advancement is further supporting the market growth globally. The LED panel light market is being driven by the rising environmental concern and the growing demand for eco-friendly products. ![]() Read more about this report - REQUEST FREE SAMPLE COPY IN PDF The market is further projected to grow at a CAGR of 14% over the forecast period of 2023-2028 to attain a value of USD 48.48 billion by 2028. The global LED panel light market size was around USD 22.09 billion in 2022.
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