Australia LED Lighting Market is expected to keep growing in the next five years owing to the growing consumer awareness about the environment as well as the durability of LED lights: Ken Research
Australia Led Lighting Market is in the growing stage, owing to the growing consumer awareness about the environment, the durability of LED lights and the government initiatives for energy efficiency drive. The LED Lighting Market in Australia is consolidated with key players such as LED EXPO Australia, Ledtec, MyEnergy Group and Dongguan City Tianhua Photoelectric Technology Co Ltd etc.
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Key Market Findings:
- Australia LED Lighting Market was valued at USD ~ in 2021 and is projected to grow to USD ~ by 2027F, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027F).
- The commercial sector accounted for the majority of the market share in 2021 in Australia.
- The use of LED lights has increased in both home and business settings as they are effective, durable, and have good illumination.
Growing Lamp Segment: The lamps segment dominated the overall LED lighting market in 2022 and similar trend is expected to continue during the forecast period. A-type and T-type lamps are highly adopted in residential applications, which, in turn, leads to a larger market size of the lamps segment compared to luminaires. The modern technology equipped with LED lamps enables improved efficiency with low maintenance costs. The warm light from the LED lamps allows for complete brightness without energy loss. Customers increasingly want environmentally friendly options and using an environmentally friendly light source to reduce energy consumption. Traditional lighting sources do not function well in cold weather. When the temperature drops, lighting sources, particularly fluorescent lamps, require a higher voltage to start, and light intensity diminishes.
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Rising Digital Platforms for Fund Transfer: The outdoor market is expected to expand during the projected period. This is because infrastructure-related projects including highways, airports, and public areas are being expanded. The market for LED lights for outdoor applications is also expected to increase due to growing government initiatives to attain net-zero emissions by reducing energy use.
Growing Commercial End-User Segment: The need for sophisticated lighting among exhibition, museum, and gallery owners for improved lighting applications is one of the driving forces behind the rapid growth of the commercial building industry around the world and is anticipated to promote market expansion. The demand for high-luminance LED lights is expanding predominantly owing to the requirements for office lighting to conform to government regulations and norms, which is boosting the expansion of the market.
Analysts at Ken Research in their latest publication “Australia LED Lighting Market Outlook to 2027F – By Type of LEDs (Luminaires and Lamps), By Usage of LEDs (Indoor, Outdoor, Street Lighting, Building Exteriors/ Façade Lighting, Parking Lots and Garages, Others) and By End User Sector (Commercial, Residential, Industrial, Healthcare and Hospitality)” observed that Australia LED Lighting Market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to the growing consumer awareness about the environment, the durability of LED lights and the government initiatives for energy efficiency drive. The LED Lighting Market in Australia is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.
Key Segments Covered in the report
By Type of LEDs
- Luminaires
- Lamps
By Usage of LEDs
- Indoor
- Outdoor
- Street Lighting
- Building Exteriors/ Façade Lighting
- Parking Lots and Garages
- Others
By End User Sector
- Commercial
- Residential
- Industrial
- Healthcare
- Hospitality
By Type of Sales
- Project
- Retail
Key Target Audience
- Government Bodies and Regulatory Authority
- Fintech Companies
- Investors and Fianciers
- Venture Capitalist
- New Market Entrants
- Banks and its Subsidiaries
- NBFCs
- OEM Dealerships
- LED Light Manufacturers
- LED Light Sellers
Time Period Captured in the Report:
- Historical Period: 2017-2022P
- Base Period: 2022P
- Forecast Period: 2022P-2027F
Companies Covered:
- LEDEXPO Australia
- Ledtec
- MyEnergy Group
- Dongguan City Tianhua Photoelectric Technology Co Ltd
- Jiangsu ChuangXu Optoelectronics Technology Co., Ltd.
- Shenzhen Guangshezhaoming Technology Co., Ltd
- Ningbo ALVA Electric Appliance Co., Ltd.
- Zhejiang Danse Electronic Technology Co., Ltd.
Key Topics Covered in the Report
- Australia LED Lighting Market Overview
- Australia LED Lighting Market Segmentation
- Australia Domestic LED Lighting Market Overview
- Australia International LED Lighting Market Overview
- Ecosystem of Australia LED Lighting Market
- Market Share of Major Players in Australia LED Lighting Market
- Industry Analysis of Australia LED Lighting Market
- Value Chain of LED Lighting Market in Australia
- Key Growth Drivers in Australia LED Lighting Market
- End User Analysis of Australia LED Lighting Market
- Key Challenges of Australia LED Lighting Market
- SWOT Analysis of Australia LED Lighting Industry
- Future Outlook of Australia LED Lighting Market
- Trends and Development of Australia LED Lighting Market
For more information on the research reports, refer to below link:
Australia LED Lighting Market Outlook to 2027F
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