The latest research study, “LED Downlight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” has been added by IMARC Group. offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global LED downlight market size reached US$ 20.6 Billion in 2020. Looking forward, the market expects to grow at a CAGR of 9.2% during (2021-2026).
A light-emitting diode (LED) downlight is generally installed in the ceiling to provide illumination in a specific space, especially in commercial and residential areas. It is a recessed light fixture, which contains a hollow opening that emits light in the downward direction with a narrow beam. Apart from this, it is also utilized for task and accent lightings that help enhance the aesthetic appearance of a place. Along with this, it has a relatively longer lifespan while being energy-efficient in nature with little to no maintenance.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global energy storage systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, application and end user.
Global LED Downlight Market Trends:
The global market is primarily driven by the increasing investments by public and private firms for infrastructural development projects. Along with this, the rising awareness regarding sustainable development among the masses has led to the widespread adoption of LED downlights as they are eco-friendly and offer the same illumination output as traditional bulbs. Also, the rising popularity of LED retrofitting for excellent lumen power and better service life at less wattage is positively influencing the market growth.
Furthermore, the widespread utilization of outdoor illumination systems due to their capacity to withstand harsh conditions, such as rough weather, vibrations and external shocks, is creating a positive outlook for the market further. Some of the other factors contributing to the market include the introduction of compact-sized LED downlights, a continual rise in the electricity costs across the globe and the numerous favorable initiatives undertaken by the governments of various countries to promote the uptake of LED lights.
Browse full report with detailed TOC and list of figures and tables: https://bit.ly/3tqmCgM
Insights on Market Segmentation:
Key Application Areas:
1. Offices and Conference Rooms
2. Residential Blocks
3. Showrooms and Malls
4. Hospitals and Laboratories
5. Hotels and Restaurants
Performance of Key Regions
1. India
2. China
3. Europe
4. United States
5. Japan
6. Brazil
7. Russia
Key Player:
1. Nichia
2. OSRAM LICHT AG NA O.N. (OSR.DE)
3. Samsung Electronics Co Ltd (SSNLF)
4. Everlight Electronics
5. LG Innotek (011070.KS)
The report has also analyzed the competitive landscape of the market, along with the detailed profiles of the key players operating in the industry.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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