Favorable government policies burgeon growth in Asia Pacific LED Materials Marke
Posted by rohan on March 20th, 2020
A light-emitting diode or LED emits an incoherent narrow spectrum of light when it is in forward biased condition. The color of the light emitted is depended on the composition of the semiconductor material employed in the making of LED. It is mainly engaged in an array of applications like clock displays, digital watches, lighting bulbs, calculators, and others. These LEDs are also found in HD TV display, cameras, camcorders, optical fiber communication, and remote controls. The application of LED is even exceeded to the jewelry and wearables. LED lights work excellently even under high temperatures and can show the same result of long hours of use. The Asia Pacific LED materials market in 2019 was expected to be at USD 4.81 billion and is estimated to rise at a compound annual growth rate of around 15% to reach approximately USD 9.51 billion by 2025.
Market drivers and restraints:
The Asia Pacific LED material market is majorly driven by the increasing application and call of LED in energy-efficient and excellent resolution displays in smartphones and high definition television. Furthermore, favorable government policies, including different labeling and certification programs, are offering the latest expansion opportunities for the regional LED materials market. One of the critical reasons for fast adoption in LED lights is its relatively less power consumption when compared with standard lights. In some instances, the power consumption is as low as one-third. The increasing application of LED in automotive lighting and display, home and industrial lighting need is fueling the market of LED that in turn is driving the demand for LED materials in the Asia Pacific region.
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Report segmented as:
On the basis of region, the Asia Pacific LED materials market has been segregated into regions namely, India, China, Japan, and others. Japan and China are considered to be largest contributors to the regional market, followed by other nations like India, Indonesia, Taiwan, etc.
Philips lighting launches brand new LED products. Philips Lighting India, the country’s dominating brand in the lighting market, in recent times has introduced two products – Philips Razor LED and Philips Ace Saver 2 – in – 1.
Important market players:
The major players operating in the Asia Pacific LED market are Nichia Corporation (Japan), Epistar Corporation (Taiwan), Koninklijke Philips N.V. (Netherlands), OSRAM Licht AG (Germany), II-VI incorporated (U.S.), and AkzoNobel (Netherlands) and other manufacturers.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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