The architectural LED products market globally has experienced a significant growth due to the surging demand for more efficient lighting, displays and fixtures in the residential and commercial places along with the rising awareness among people for energy conservation.
New York, NY -- (SBWIRE) -- 01/06/2016 -- The global architectural LED products market has been witnessing a steady growth in its market valuation. Several governments across the world have enforced various rules and regulations, encouraging the deployment of LED lighting systems at construction sites, which is stimulating this market to a great extent.
By 2015, the worldwide architectural LED products market is anticipated to reach US$3,997.5 mn. Analysts expect it to rise further and reach US$10,751 mn by the end of 2021, rising at a CAGR of 17.90% between 2015 and 2021.
Request sample of this report: http://www.persistencemarketresearch.com/samples/8074
Conventional LED Products to Maintain Demand
On the basis of types, solar LED products and conventional LED products are the two major segments of the worldwide architectural LED products market. The conventional LED products segment dominates the global market at present. It stood at US$3,209 mn in 2014 and is likely to reach a value of US$3,746 mn by the end of 2015.
The rise in demand for LED lamps as well as LED strips and linear products are likely to propel the conventional LED products segment owing to which the product segment is expected to maintain its lead also in the near future.
Wall Washing Segment Poised to Reach US$1,557 mn by 2015
Wall washing, cove lighting, backlight, in ground, and specialty lighting are the prime application areas for architectural LED products. Among these, architectural LED products are majorly utilized for wall washing. In 2014, the wall washing segment stood at US$1,325.7 mn. Analysts project it to reach US$1,557 mn, occupying 38.8% of the overall market, by the end of 2015.
The increasing requirement for lighting systems, utilized to illuminate large surfaces such as museums and contemporary architecture, is anticipated to drive the segment at a CAGR of 18.50% between 2015 and 2021.
Commercial Sector to Remain Largest End User of Architectural LED Products Market
The commercial sector and the residential sector are the main end users of architectural LED products. The commercial sector is a bigger end user among the two. It accounted for about 76.9% of the total revenue generated by the global architectural LED market in 2014. By the end of 2015, the share of the market held by the segment is likely to increase to 77.3%.
The retail market, BFSI industry, IT and Telecom sector, medical and healthcare industry, media and entertainment industry, museums, and places of worship come under the commercial segment in the global market for architectural LED products.
Asia Pacific to Remain Undisputed as Market Leader
Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa are the key regional markets for architectural LED products. Asia Pacific is poised to acquire about 47.1% of the overall market and capture the leading position by the end 2015.
View Detail Report: http://www.persistencemarketresearch.com/market-research/architectural-led-products-market.asp
The regional market is likely to maintain its dominance in the coming years, exhibiting the highest CAGR among all the regions during the period from 2015 to 2021. Other regional architectural LED products markets are also expected to witness a healthy growth over the next few years.
The major players operating in the global architectural LED products market are Samsung Electronics, Eaton Corp., Verbatim Ltd., Osram Licht AG, Philips Lumileds Lighting Co. LLC, Galaxia Electronics Co. Ltd., Epistar Corp., Toshiba Lighting & Technology Corp., Cree Inc., and GE Lighting LLC.
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.