About LED Tube Lights
LED Tube lights convert converts existing linear fluorescent fixtures to LED lighting. These are ideal for seeking high energy savings with minimal installation time. These are designed in various colors and it has no harmful UV radiation and no virtual heat. LED tube light growing at a higher rate because of the feature as smooth, constant, and consumes less power. These lights are replacing traditional fluorescent tube lights in residential and commercial applications. The major factors behind the growth of LED tube lights are the stringent energy consumption regulations are implemented across the globe. Another major factor is the fact that LED tube lights are high efficiency which makes them at a high adoption rate.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global LED tube light market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cree (United States), LG Electronics (South Korea), GE Lighting (United States), Hubbell (United States), Syska (India), CG Power and Industrial Solutions (India), Wipro (India), Eveready (India), Philips (Netherlands) and Bajaj (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Osram (Germany), Corvi (India) and Oreva (India).
Segmentation Overview
AMA Research has segmented the market of Global LED Tube Lights market by Type (Up to 5 Inches, 5-10 Inches and Above 10 Inches), Application (Commercial Sector, Residential Sector and Industrial Sector) and Region.
On the basis of geography, the market of LED Tube Lights 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). If we see Market by Watt, the sub-segment i.e. Under 6 Watts will boost the LED Tube Lights market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Stores will boost the LED Tube Lights market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High rate adoption from the residential sector
Market Growth Drivers:
Stringent energy consumption regulation by government and Increase adoption of high-efficiency lights
Challenges:
The rising cost of raw materials
Restraints:
Increased competition between processors and Fluctuation in foreign currency exchange rates
Opportunities:
Strong export markets and The growing trend of converging regulatory requirements across nations, increasing access to raw materials in the long
Market Leaders and their expansionary development strategies
In March 2022, Chinese company NANLITE recently introduced a new family member to their PavoTube LED light series. The new NANLITE PavoTube T8-7X is a 1-meter long LED fixture that comes with 16 individually controllable zones, support for built-in and custom-made effects as well as wired, Bluetooth, and DMX/RDM control.
In September 2020, Signify has announced the new up-down Philips TwinGlow LED tube-light for homes. The path breaking LED batten provides both a bright white work mode down-light and a soothing ambient relax mode up-light in a single LED batten. The batten conforms to Signifys EyeComfort standard, which measures products against a set of key comfort criteria: flicker, glare, stroboscopic effect, photo-biological safety, dimmable, tuning and color rendering factors that can impact the comfort of users eyes.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, LED Tube lights Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.