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According to IMARC Group latest report titled “LED Tube Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on LED tube light market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global LED tube light market reached a value of US$ 3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6 Billion by 2027, exhibiting at a CAGR of 10.9% during 2022-2027.
A light-emitting diode (LED) tube light is one of the most energy-efficient types of linear tube lighting. These lights are increasingly replacing fluorescent tube lights, particularly across residential and commercial buildings, owing to their prolonged operational life and high energy efficiency. LED tube lights are versatile with control systems, unlike fluorescent tubes, which tend to burn out faster when integrated with occupancy sensors or other controls. As a result, these tube lights find extensive applications, such as smart devices, signal and signage, street lighting, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Shifting consumer preferences from compact fluorescent lights (CFLs) to LED tube lights due to the inflating electricity prices are driving the LED tube light market. Furthermore, the launch of various awareness campaigns for energy conservation and environmental protection by several government bodies is also augmenting the product demand. Additionally, numerous manufacturers are introducing innovative LED lighting products, along with investing in marketing strategies to raise product awareness. Moreover, there is a rising demand for LED tube lights from the corporate sector, owing to their better ambiance lighting, reduced maintenance costs, enhanced controls, etc. This, in turn, is anticipated to fuel the market growth in the coming years.
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LED Tube Light Market Segmentation:
Our report has categorized the market based on region, tube type and application.
Market Breakup by Tube Type:
Key highlights of the report:
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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