Japan Indoor LED Lighting Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 1.65 Billion |
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Market Size (2030) | USD 1.83 Billion |
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Largest Share by Indoor Lighting | Industrial and Warehouse |
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CAGR (2024 - 2030) | 1.82 % |
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Fastest Growing by Indoor Lighting | Agricultural Lighting |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Japan Indoor LED Lighting Market Analysis
The Japan Indoor LED Lighting Market size is estimated at 1.65 billion USD in 2024, and is expected to reach 1.83 billion USD by 2030, growing at a CAGR of 1.82% during the forecast period (2024-2030).
1.65 Billion
Market Size in 2024 (USD)
1.83 Billion
Market Size in 2030 (USD)
-0.49 %
CAGR (2017-2023)
1.82 %
CAGR (2024-2030)
Largest Segment by Indoor Lighting
69.18 %
value share, Industrial and Warehouse, 2023
In 2021, the area under class 1-3 regular warehouses in Japan reached a decade-high of approximately 61.61 million square meters, increasing from 38.8 million square meters in 2012.
Largest Segment by Commercial
46.50 %
value share, Office, 2023
In Q2 of 2022, overseas investment in Japanese commercial property rose by 37% Y-o-Y, driven by a surge in transactions in the office sector. In 2021, over 3,000 retail establishments were in operation, out of which 24 were new openings.
Fastest-growing Segment by Indoor Lighting
5.97 %
Projected CAGR, Agricultural Lighting, 2024-2030
The number of vegetable vertical farms in Japan grew from 93 in 2011 to 390 in February 2021. Thus, commercial greenhouses is expected to promote agriculture lighting in the coming years.
Fastest-growing Segment by Commercial
1.40 %
Projected CAGR, Retail, 2024-2030
The luxury goods sector in Japan is the third largest in the world after the US and China. Ginza high street rents rose by 3.8% Q-o-Q to JPY 250,700 per tsubo per month.
Leading Market Player
34.82 %
market share, Panasonic Holdings Corporation, 2022
Panasonic holds the largest market share in Japan. The company has eco-friendly LED lights that are valued for achieving energy savings of 50% or more compared to older fluorescent lighting.
Increasing development in the industrial sector and commercial office demand states to drive market growth
- In terms of value share, in 2023, the industrial and warehouse segment accounts for a majority share, followed by commercial. Japan's economy expanded more than expected in the opening quarter of 2019. Japan's economy grew at an annual rate of 1.8%. This has led to a major demand for LED lighting in all sectors, mainly in the industrial and commercial segments. The COVID-19 era increased the demand for e-commerce goods, leading to more demand for LED lighting, majorly in B2C. Currently, the market demand is increasing for both sectors. In 2022, the supply increased, leading to low LED pricing. In Q4 2022, the commercial property price index for retail properties, warehouses, factories, apartment buildings, and commercial and industrial land in Japan stood at 146.6, down from 155.4 points in the previous quarter.
- In volume share, commercial accounts for the majority of the share, and then residential stands at the second spot. Over the next six months in 2023, new supply is expected to triple from 2022, at around 1.5 times higher than the 10-year historical average in Tokyo Central 5 Wards Grade A office. With the onset of the pandemic in 2020, residential land prices plunged 0.5% in 2021. However, despite the long-term trend, housing demand remained strong in the country’s metropolitan areas. Sapporo is expected to have major residential demand, having an 11.8% growth rate in 2023.
- In terms of development, the market is expected to see major demand growth in agriculture and industrial lighting. In terms of area, only 12% of Japan’s land was dedicated to agriculture in 2020. In the coming year, this number is expected to decrease further, leading to the penetration of commercial greenhouses, which will cater to more demand for LEDs.
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Japan Indoor LED Lighting Market Trends
Increasing number of elderly people and the decreasing population are expected to hinder the growth of real estate
- In Japan, the construction of owned housing complexes began on about 253.3 thousand projects in 2022. The number of owner-occupied home development starts fell by 11.3% from the previous year. The new house construction has been happening every year, but the growth percentage has declined. This trend suggests that the increasing number of properties is expected to boost LED penetration in the country. Japan's disposable income is high compared to other developing nations. For instance, in 2022, India's disposable income was USD 2301.4, followed by Vietnam at USD 3716.8 and China at USD 12,732.5, resulting in rising spending power of individuals and more money being spent on new residential spaces. Japan's per capita income reached USD 33,911.2 in December 2022 compared to USD 39,916.1 in December 2021. Compared to 2021, disposable income declined as Japan’s economic growth slowed in 2022, with economic activity being affected by high commodity prices, supply-side constraints, and the impact of the COVID-19 pandemic.
- Japan's population has declined for the 12th year in a row due to increased deaths and declining birth rates. In 2022, there were 124.49 million people, a decrease of 556,000 from the previous year. This decline suggests that the average household size is expected to decrease in the coming years, leading to a saturation point for a number of house owners. In May 2017, the Tokyo Metropolitan Government (TMG) launched a campaign to promote the energy-saving movement among households through a shift to LED bulbs. Residents of Tokyo who bring two or more incandescent bulbs to their local home appliance store will receive one LED bulb in exchange. Such instances are expected to boost the demand for LED lighting in the country in the coming years.
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Rise in residential and commercial construction, smart city projects, and government campaigns promote the use of LED lights
- The combined energy consumption of Japan's industrial and commercial sectors in FY 2021 was roughly 7.8 exajoules. The residential sector consumed approximately 1.7 exajoules of energy in the same year. The Japanese economy relies heavily on the construction sector, contributing 5.5% to the country's GDP in 2021. It is estimated that the construction of the Chuo Shinkansen maglev line and other buildings planned for the Osaka World Expo 2025 will have a similar impact. As part of its five-year acceleration strategy, the government plans to invest over USD 0.12 trillion. The rise in construction is expected to boost demand in the commercial and residential markets, which is anticipated to benefit the LED market.
- Electricity demand in the commercial sector is the highest during operating business hours, which are 10-12 hours. Electricity use in the industrial sector tends not to fluctuate throughout the day (24 hours). Electricity demand in the residential sector tends to vary by about four to six hours. A Japanese company called Minebea Mitsumi launched a smart LED street lighting scheme in Osaka in 2020. The smart city project aims to check the environment around the roads, traffic volume, and flood water on the roads. This is expected to fuel the country's growing LED market.
- The Tokyo Metropolitan Government started a campaign in 2017 to encourage families to switch to LED bulbs to save energy. The campaign encouraged locals to take advantage of the energy-saving features of LED lamps. This program is expected to reduce the nation's electricity consumption and encourage the adoption of LED lighting.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- An increasing number of households may drive the growth of the market
- High export of LED products and increasing government policies and campaigns promote the use of LED lights
- The market is driven by technology advancement and government LED projects to promote horticulture in the country
- An increasing number of households and the growing real estate industry may drive the market's growth
- The market is driven by government initiatives to increase the use of energy-efficient lights and banning of batteries containing mercury and fluorescent light
Japan Indoor LED Lighting Industry Overview
The Japan Indoor LED Lighting Market is fairly consolidated, with the top five companies occupying 76.97%. The major players in this market are Endo Lighting Corporation, Nichia Corporation, OSRAM GmbH, Panasonic Holdings Corporation and Toshiba Corporation (sorted alphabetically).
Japan Indoor LED Lighting Market Leaders
Endo Lighting Corporation
Nichia Corporation
OSRAM GmbH
Panasonic Holdings Corporation
Toshiba Corporation
Other important companies include Everlight Electronics Co. Ltd, Iris Ohyama Co. Ltd, Lumileds Holding BV (NARVA), ODELIC Co. Ltd, Up-shine Lighting Co. Limited.
*Disclaimer: Major Players sorted in alphabetical order.
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Japan Indoor LED Lighting Market News
- December 2023: The company contributed to visionary light wall in CoorsTek office gallery with "Traxon Dot XL" lighting.
- October 2023: The company launched Wi-Fi enabled smart LED bulb with multi-colour options and automated scheduling functions.
- January 2023: The company launched high Luminous flux and flux density suitable for Various Indoor/Outdoor lighting applications.
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.
Japan 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. Japan
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. Endo Lighting Corporation
4.4.2. Everlight Electronics Co. Ltd
4.4.3. Iris Ohyama Co. Ltd
4.4.4. Lumileds Holding BV (NARVA)
4.4.5. Nichia Corporation
4.4.6. ODELIC Co. Ltd
4.4.7. OSRAM GmbH
4.4.8. Panasonic Holdings Corporation
4.4.9. Toshiba Corporation
4.4.10. Up-shine Lighting Co. Limited
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, JAPAN, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, JAPAN, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, JAPAN, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, JAPAN, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, JAPAN, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, JAPAN, 2017 - 2030
- Figure 7:
- HORTICULTURE AREA, HECTARE, JAPAN, 2017 - 2030
- Figure 8:
- VOLUME SALES OF JAPAN INDOOR LED LIGHTING MARKET, NUMBER, JAPAN, 2017 - 2030
- Figure 9:
- VALUE SALES OF JAPAN INDOOR LED LIGHTING MARKET, USD, JAPAN, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY INDOOR LIGHTING, NUMBER, JAPAN, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY INDOOR LIGHTING, USD, JAPAN, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, JAPAN, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY INDOOR LIGHTING, %, JAPAN, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, NUMBER, JAPAN, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN AGRICULTURAL LIGHTING, USD, JAPAN, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES BY COMMERCIAL, NUMBER, JAPAN, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES BY COMMERCIAL, USD, JAPAN, 2017 - 2030
- Figure 18:
- VALUE SHARE OF LED FIXTURES BY COMMERCIAL, %, JAPAN, 2017 - 2030
- Figure 19:
- VOLUME SHARE OF LED FIXTURES BY COMMERCIAL, %, JAPAN, 2017 - 2030
- Figure 20:
- VOLUME SALES OF LED FIXTURES IN OFFICE, NUMBER, JAPAN, 2017 - 2030
- Figure 21:
- VALUE SALES OF LED FIXTURES IN OFFICE, USD, JAPAN, 2017 - 2030
- Figure 22:
- VOLUME SALES OF LED FIXTURES IN RETAIL, NUMBER, JAPAN, 2017 - 2030
- Figure 23:
- VALUE SALES OF LED FIXTURES IN RETAIL, USD, JAPAN, 2017 - 2030
- Figure 24:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, JAPAN, 2017 - 2030
- Figure 25:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, JAPAN, 2017 - 2030
- Figure 26:
- VOLUME SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, NUMBER, JAPAN, 2017 - 2030
- Figure 27:
- VALUE SALES OF LED FIXTURES IN INDUSTRIAL AND WAREHOUSE, USD, JAPAN, 2017 - 2030
- Figure 28:
- VOLUME SALES OF LED FIXTURES IN RESIDENTIAL, NUMBER, JAPAN, 2017 - 2030
- Figure 29:
- VALUE SALES OF LED FIXTURES IN RESIDENTIAL, USD, JAPAN, 2017 - 2030
- Figure 30:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, JAPAN, 2017 - 2030
- Figure 31:
- MOST ADOPTED STRATEGIES, COUNT, JAPAN, 2017 - 2030
- Figure 32:
- VALUE SHARE OF MAJOR PLAYERS, %, JAPAN, 2022
Japan Indoor LED Lighting Industry Segmentation
Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.
- In terms of value share, in 2023, the industrial and warehouse segment accounts for a majority share, followed by commercial. Japan's economy expanded more than expected in the opening quarter of 2019. Japan's economy grew at an annual rate of 1.8%. This has led to a major demand for LED lighting in all sectors, mainly in the industrial and commercial segments. The COVID-19 era increased the demand for e-commerce goods, leading to more demand for LED lighting, majorly in B2C. Currently, the market demand is increasing for both sectors. In 2022, the supply increased, leading to low LED pricing. In Q4 2022, the commercial property price index for retail properties, warehouses, factories, apartment buildings, and commercial and industrial land in Japan stood at 146.6, down from 155.4 points in the previous quarter.
- In volume share, commercial accounts for the majority of the share, and then residential stands at the second spot. Over the next six months in 2023, new supply is expected to triple from 2022, at around 1.5 times higher than the 10-year historical average in Tokyo Central 5 Wards Grade A office. With the onset of the pandemic in 2020, residential land prices plunged 0.5% in 2021. However, despite the long-term trend, housing demand remained strong in the country’s metropolitan areas. Sapporo is expected to have major residential demand, having an 11.8% growth rate in 2023.
- In terms of development, the market is expected to see major demand growth in agriculture and industrial lighting. In terms of area, only 12% of Japan’s land was dedicated to agriculture in 2020. In the coming year, this number is expected to decrease further, leading to the penetration of commercial greenhouses, which will cater to more demand for LEDs.
| 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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