What is Led Retrofit Services Market?
LED retrofit means replacing traditional lighting technology with LED lighting across a wide spectrum of lighting applications. LED lights are widely installed in various types of infrastructure facilities to improve lightings and reduce operational and maintenance costs. However, upgrading lamps or lighting fixtures with LED retrofits increases energy efficiency and decreases lighting pollution & carbon emissions.
Highlights from Led Retrofit Services Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Stouch Lighting (United States), Action Services Group (United States), Comet Signs (United States), The Retrofit Companies, Inc. (United States), Premier Lighting (United States), SitelogIQ (United States), Rowbel Services (United States), TRILUX (Finland), Daisy Energy (Canada) and NationalLED (United States) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Led Retrofit Services market throughout the forecasted period.
Stouch Lighting (United States), Action Services Group (United States), Comet Signs (United States), The Retrofit Companies, Inc. (United States), Premier Lighting (United States), SitelogIQ (United States), Rowbel Services (United States), TRILUX (Finland), Daisy Energy (Canada) and NationalLED (United States) are some of the key players profiled in the study. Led Retrofit Services Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Residential, Commercial and Industrial |
Installation Type | Interior,Exterior |
On the basis of geography, the market of Led Retrofit Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Popularity of Connected LED Lighting Systems
Market Growth Drivers:
Increasing Demand of Replacing Traditional Lightings with LED Lightings to Reduce the Energy Cost
Challenges:
High Cost Related to Fixture Replacement in Some Situation
Restraints:
Some Types of LED Lights Disrupt the LED’s Radiation Pattern and Make It Less Efficient
Opportunities:
Rapidly Increasing Infrastructural Developments across the Globe Due to Urbanization
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, LED Retrofit Service Providers, LED Lighting Manufacturers, Suppliers and Distributors of LED Lighting, Raw Material Manufacturers & Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
Market Leaders & Development Strategies
In January 2021, Shiffler Equipment Sales, Inc. announced the partnership with Rogers Electric, the leading provider of electrical, construction, lighting, and distribution service. The partnership will enable Shiffler to immediately offer LED retrofit and electrical maintenance services to educational facilities nationwide and also allow to repair, install, upgrade and retrofit any lighting system, anywhere in the United States.