Healthy Outlook for the Global Light Emitting Diode (LED) Lamps and Fixtures Market

A new market study published by Global Industry Analysts presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Amid the COVID-19 crisis, the global market for Light Emitting Diode (LED) Lamps and Fixtures estimated at US$45 Billion in the year 2020, is projected to reach a revised size of US$103.9 Billion by 2026, growing at a CAGR of 14.7% over the analysis period. LED Lamps, one of the segments analyzed in the report, is projected to record a 14.7% CAGR and reach US$43.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the LED Fixtures segment is readjusted to a revised 14.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $13.9 Billion in 2021, While China is Forecast to Reach $22.6 Billion by 2026
The Light Emitting Diode (LED) Lamps and Fixtures market in the U.S. is estimated at US$13.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.6 Billion by the year 2026 trailing a CAGR of 19.1% over the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 12.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.6% CAGR.