China Indoor LED Lighting Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 3.87 Billion |
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Market Size (2030) | USD 6.70 Billion |
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Largest Share by Indoor Lighting | Industrial and Warehouse |
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CAGR (2024 - 2030) | 9.58 % |
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Fastest Growing by Indoor Lighting | Agricultural Lighting |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
China Indoor LED Lighting Market Analysis
The China Indoor LED Lighting Market size is estimated at 3.87 billion USD in 2024, and is expected to reach 6.70 billion USD by 2030, growing at a CAGR of 9.58% during the forecast period (2024-2030).
3.87 Billion
Market Size in 2024 (USD)
6.70 Billion
Market Size in 2030 (USD)
3.55 %
CAGR (2017-2023)
9.58 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
79.65 %
value share, Industrial and Warehouse, 2023
China is a net exporter and one of the cheapest manufacturing hubs in the world. Its total exports hit an all-time high in 2022, accounting for USD 6.3 trillion, up by 7.7% from 2021.
Largest Segment by Commercial
65.57 %
value share, Retail, 2023
The total sales of LEDs in this category were expected to reach USD 241.94 million by 2023. The luxury brands accounted for 41% of all stores in China in 2022.
Fastest-growing Segment by Indoor Lighting
15.49 %
Projected CAGR, Agricultural Lighting, 2024-2030
China has a strong manufacturing infrastructure with YOY production growth of 2.2%, which may help it grow its presence and bag long-term foreign businesses in the coming years.
Fastest-growing Segment by Commercial
7.28 %
Projected CAGR, Office, 2024-2030
China's retail sales in the first two months of 2023 maintained a growth of 3.5%, whereas the total retail sales in the first five months of 2023 increased by 9.3% Y-o-Y.
Leading Market Player
11.32 %
market share, OPPLE Lighting Co. Ltd, 2022
Opple Lighting Co. Ltd holds the highest market share in China. Its domestic sales network covers 95% of cities above the county level through 4,000 Opple stores and 30,000 sales outlets.
Growing star-ups, rising manufacturing facilities, and increasing retail sales are expected to raise the demand for indoor lighting
- In 2023, industrial and warehouse (I&W) accounted for the majority of the share (79.6%), followed by commercial, agricultural, and residential. The market share is expected to have a minimal reduction in all applications and a gain in (I&W) in the coming years. Chinese industries faced several internal and external headwinds, such as weak domestic consumption, declining business confidence, and supply chain disruptions caused by the surge of COVID-19. Further, China sustained its industrial production in 2021. In 2021, China produced a total of USD 4865.8 billion, an increase of 26.04% compared to 2020. Thus, the growing industrial production will create demand for Indoor lighting in the coming years.
- The demand for automotive manufacturing plants and warehouses across China is rising, and this is due to the global auto market relying on China because of its cheap components, source of finished cars, and others. Such instances necessitate more requirements for Indoor LEDs during the study period. BMW opened a new factory in the city of Shenyang, and Audi started production at a new EV factory in the city of Changchun.
- China’s retail sector continues to show signs of robust growth, with retail sales surging by 12.7% in May 2023 from a year earlier. The rapid increase in online shoppers is further expected to boost the need for new warehouses in the region, resulting in more demand for indoor lighting.
- China is one of the top players in creating billion-dollar start-ups. In 2022, China added 74 new unicorns, falling behind the United States. Around 70% of its new unicorns come from the healthcare and smart logistics sectors, which surges the demand for commercial spaces. The above instances are expected to drive the demand for Indoor LEDs in the coming year.
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China Indoor LED Lighting Market Trends
The rising per capita income complements the growth of households
- The average household size in China registered 3.03 persons in 2017. By 2021, it reduced to 2.7, indicating an increase in private households/housing ownerships. After 1998, China went from being a nation dominated by public renters to one with the highest homeownership rates, owing to the privatization of existing public housing and the vast provision of private housing, primarily in the ownership sector. By 2020, more than 90% of households in China owned their homes (87% in urban areas and 96% in rural areas). In contrast to many affluent countries, more than 20% of Chinese households own several properties. Thus, the increase in the number of properties is expected to create more LED penetration for the need for illumination in the country.
- In China, disposable income is growing, resulting in the rising spending power of individuals who spend more money on new residential spaces. China's per capita income reached USD 12,732.5 in December 2022 compared to USD 12,615.7 in December 2021. India's per capita income was USD 2,301.4 as of Mar 2022, which is lower than China's.
- In China, the floor area of residential buildings per capita for rural areas was reported at 48.900 sq. m in 2019, an increase from the previous year of 47.300 sq. m. In urban areas, it was 38.600 sq. m in 2020, a decrease from 39.800 sq. m in 2019 due to an increase in the investment in small-size apartments/studio apartments. This is propelling the growth of LED lighting in the country. For instance, people in China invested in low-cost apartments in small Chinese cities.
- In 2012, households in China were offered a subsidy program of CNY 2.2 (USD 0.31) billion for the use of energy-conserving light bulbs and LEDs. Such instances are expected to increase the demand for LED lighting in the country.
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China's energy conservation initiatives could propel the LED lighting market in the country
- In 2021, Chinese households used approximately 1,170 terawatt hours of electricity. At around 5,610 terawatt hours, the secondary sector, which includes the manufacturing industries, consumed the most energy. The residential and commercial sectors came in second and third. Market growth is negative as a result of the real estate market slump. Despite the decline in new construction, chances for significant growth exist in the renovation of the existing structures and the creation of green buildings, leading to the expansion of the LED market in China.
- During normal business hours, commercial electricity use is at its peak. It usually lasts between 10 and 12 hours every day. Electricity consumption in the industrial sector does not vary during the day or year; for example, manufacturing facilities operate 24 hours a day, 365 days a year. The residential sector often has peak electricity demand in the evenings, ranging from 5.5 to 7 hours.
- The 14th Five-Year Plan for the Development of Culture and Tourism in April 2021 encouraged the development of the night‑time economy and the construction of national clusters for culture and tourism at night by installing 200 intelligent lamp post projects, driving the growth of the LED lighting market.
- By 2022, 70% of new urban buildings must be recognized as green buildings, according to the new standards. According to the Plan, all public facilities, structures larger than 20,000 sq. m, and other sizable public structures must adhere to China's Green Building Evaluation Label's 3-Star Green Building Standards. The development of LED lighting is being accelerated by China's emphasis on energy conservation.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- A steady birth rate is complementing the positive growth of homeowners, small and medium-sized businesses, and electric vehicles
- The Chinese LED market will be boosted by the increased government support for local LED chip producers
- Ambient lighting conditions with LEDs would increase the partnership between manufacturers and indoor grow light producers
- Rising GDP per capita is complementing the growth in households, commercial estate, and the adoption of EVs in China's countryside
- National Development and Reform Commission partners with Ministry of Finance in China to promote LEDs in the country
China Indoor LED Lighting Industry Overview
The China Indoor LED Lighting Market is fragmented, with the top five companies occupying 27.88%. The major players in this market are ACUITY BRANDS INC., Guangdong PAK Corporation Co. Ltd, OPPLE Lighting Co. Ltd, Panasonic Holdings Corporation and Signify (Philips) (sorted alphabetically).
China Indoor LED Lighting Market Leaders
ACUITY BRANDS INC.
Guangdong PAK Corporation Co. Ltd
OPPLE Lighting Co. Ltd
Panasonic Holdings Corporation
Signify (Philips)
Other important companies include Anhui Shilin Lighting Co. Ltd, Hengdian Group Tospo Lighting Co. Ltd, NVC International Holdings Limited, TCL Lighting (TCL Group), Zhejiang Yankon Group Co. Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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China Indoor LED Lighting Market News
- April 2023: Luminis, a recognized innovator and manufacturer of specification-grade lighting systems, has developed the Inline series of external luminaires. With various heights and lighting module options, inline bollards and columns elevate outside areas.
- April 2023: Luminaire LED, a recognized leader in vandal-resistant lighting systems, announced the launch of its Vandal Resistant Downlight (VRDL) line, the company's first downlight. The architecturally designed series has a clean, elegant style while also being able to withstand hard abuse and demanding situations.
- March 2023: Aculux, a precision luminaire manufacturer, has announced improvements to its AXE series, its highest-performing family of architectural recessed downlights that feature industry-leading cut-off and glare control to produce quiet ceilings.
Free with this Report
We provide a complimentary and exhaustive set of data points on the country and regional level metrics that present the fundamental structure of the industry. Presented in the form of 40+ free charts, the sections cover difficult to find data on various countries on Automotive Production, Lighting Electricity Consumption, Road Network, Number of Stadiums, Number of Charging Stations among others.
China Indoor LED Lighting Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. Per Capita Income
2.3. Total Import Of LEDs
2.4. Lighting Electricity Consumption
2.5. # Of Households
2.6. LED Penetration
2.7. Horticulture Area
2.8. Regulatory Framework
2.8.1. China
2.9. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Indoor Lighting
3.1.1. Agricultural Lighting
3.1.2. Commercial
3.1.2.1. Office
3.1.2.2. Retail
3.1.2.3. Others
3.1.3. Industrial and Warehouse
3.1.4. Residential
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
4.4.1. ACUITY BRANDS INC.
4.4.2. Anhui Shilin Lighting Co. Ltd
4.4.3. Guangdong PAK Corporation Co. Ltd
4.4.4. Hengdian Group Tospo Lighting Co. Ltd
4.4.5. NVC International Holdings Limited
4.4.6. OPPLE Lighting Co. Ltd
4.4.7. Panasonic Holdings Corporation
4.4.8. Signify (Philips)
4.4.9. TCL Lighting (TCL Group)
4.4.10. Zhejiang Yankon Group Co. Ltd
5. KEY STRATEGIC QUESTIONS FOR LED CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- HUMAN POPULATION IN MILLION, NUMBERS, CHINA, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, CHINA, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, CHINA, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, CHINA, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, CHINA, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, CHINA, 2017 - 2030
- Figure 7:
- HORTICULTURE AREA, HECTARE, CHINA, 2017 - 2030
- Figure 8:
- VOLUME SALES OF CHINA INDOOR LED LIGHTING MARKET, NUMBER, CHINA, 2017 - 2030
- Figure 9:
- VALUE SALES OF CHINA INDOOR LED LIGHTING MARKET, USD, CHINA, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY INDOOR LIGHTING, NUMBER, CHINA, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY INDOOR LIGHTING, USD, CHINA, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, CHINA, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, CHINA, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, NUMBER, CHINA, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, USD, CHINA, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES BY COMMERCIAL, NUMBER, CHINA, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES BY COMMERCIAL, USD, CHINA, 2017 - 2030
- Figure 18:
- VALUE SHARE OF LED FIXTURES BY COMMERCIAL, %, CHINA, 2017 - 2030
- Figure 19:
- VOLUME SHARE OF LED FIXTURES BY COMMERCIAL, %, CHINA, 2017 - 2030
- Figure 20:
- VOLUME SALES OF LED FIXTURES IN OFFICE, NUMBER, CHINA, 2017 - 2030
- Figure 21:
- VALUE SALES OF LED FIXTURES IN OFFICE, USD, CHINA, 2017 - 2030
- Figure 22:
- VOLUME SALES OF LED FIXTURES IN RETAIL, NUMBER, CHINA, 2017 - 2030
- Figure 23:
- VALUE SALES OF LED FIXTURES IN RETAIL, USD, CHINA, 2017 - 2030
- Figure 24:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, CHINA, 2017 - 2030
- Figure 25:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, CHINA, 2017 - 2030
- Figure 26:
- VOLUME SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, NUMBER, CHINA, 2017 - 2030
- Figure 27:
- VALUE SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, USD, CHINA, 2017 - 2030
- Figure 28:
- VOLUME SALES OF LED FIXTURES IN RESIDENTIAL, NUMBER, CHINA, 2017 - 2030
- Figure 29:
- VALUE SALES OF LED FIXTURES IN RESIDENTIAL, USD, CHINA, 2017 - 2030
- Figure 30:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, CHINA, 2017 - 2030
- Figure 31:
- MOST ADOPTED STRATEGIES, COUNT, CHINA, 2017 - 2030
- Figure 32:
- VALUE SHARE OF MAJOR PLAYERS, %, CHINA, 2022
China Indoor LED Lighting Industry Segmentation
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.
- In 2023, industrial and warehouse (I&W) accounted for the majority of the share (79.6%), followed by commercial, agricultural, and residential. The market share is expected to have a minimal reduction in all applications and a gain in (I&W) in the coming years. Chinese industries faced several internal and external headwinds, such as weak domestic consumption, declining business confidence, and supply chain disruptions caused by the surge of COVID-19. Further, China sustained its industrial production in 2021. In 2021, China produced a total of USD 4865.8 billion, an increase of 26.04% compared to 2020. Thus, the growing industrial production will create demand for Indoor lighting in the coming years.
- The demand for automotive manufacturing plants and warehouses across China is rising, and this is due to the global auto market relying on China because of its cheap components, source of finished cars, and others. Such instances necessitate more requirements for Indoor LEDs during the study period. BMW opened a new factory in the city of Shenyang, and Audi started production at a new EV factory in the city of Changchun.
- China’s retail sector continues to show signs of robust growth, with retail sales surging by 12.7% in May 2023 from a year earlier. The rapid increase in online shoppers is further expected to boost the need for new warehouses in the region, resulting in more demand for indoor lighting.
- China is one of the top players in creating billion-dollar start-ups. In 2022, China added 74 new unicorns, falling behind the United States. Around 70% of its new unicorns come from the healthcare and smart logistics sectors, which surges the demand for commercial spaces. The above instances are expected to drive the demand for Indoor LEDs in the coming year.
| Indoor Lighting | |||||
| Agricultural Lighting | |||||
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| Industrial and Warehouse | |||||
| Residential |
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Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
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Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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