The global demand for LED Tube Market is presumed to reach the market size of nearly USD 14.74 MN by 2028 from USD 6.92 MN in 2021 with a CAGR of 11.4% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Units in 2021 and forecast to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
LED or light-emitting diode tubes are a cost-effective and efficient alternative to traditional fluorescent tubes. LED tubes have a long service life and are not fragile like conventional fluorescent tubes. LED tubes are efficient because most electrical energy is not wasted by converting it into heat energy. Due to being more efficient, they are considered a more eco-friendly option than traditional fluorescent tubes. LED Tubes are recyclable and consume less electricity.
Market Dynamics
LED tubes are cheaper, easier to maintain, and consume less electricity than their alternatives. Governments also subsidize LED tubes to make the switch to LED easy. Most LED tubes can be easily installed without the help of an electrician. This drives the demand upward. In addition, LED tubes are safer than traditional fluorescent tubes, further driving the demand. Many people don't know about the benefits of LED tubes and still use fluorescent tubes. This is a significant drawback faced by the LED tube market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of led tube. The growth and trends of LED Tube Industry provide a holistic approach to this study.
Market Segmentation
This section of the led tube market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- LED T5
- LED T8
- LED T10
- LED T12
By End Use
- Residential
- Commercial
- Industrial
- Architectural
- Hospital
- Education Institutes
- Safety & Security
- Other End Use Application
By Sales Channel
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Specialist Stores
- Exclusive Stores
- Department Stores
- Independent Electronic Stores
- Online Retailers
- Other Sales Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the LED Tube market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global LED Tube Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the led tube market include Koninklijke Philips N.V., Acuity Brands, Inc., Ideal Industries INC., Eaton Corporation, Savant Technologies LLC., OSRAM Gmbh, Seoul Semiconductor, Zumtobel Group, Bajaj Electricals, Wipro Ltd, Neptun lights inc, Havells, Syska, Foshan Electrical and Lighting Co., Ltd, LED Tube Lighting Pty. Ltd., Panasonic Corporation, Opple Lighting Co., Ltd., Crompton Greaves Consumer Electricals Limited., HPL Electric & Power Ltd, Toshiba Ltd, Other. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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