APAC LED Lighting Market Set for Rapid Growth Forecast 2019-2024

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Increasing government initiatives aimed at promoting energy-efficient lighting systems, growingnumber of smart city projects, and longevity of LED lights are driving the growth of the sector. Dueto various benefits of LED lights, such as low energy requirement, electricity expenditure reductioncapabilities, and better build, their demand from businesses has increased.The Asia-Pacific LED lighting market was valued at $27.5 billion in 2018 and is predicted towitness a CAGR of 13.0% in the forecast period (2019–2024).To request a sample copy visit : http://bit.ly/2YXyBTtIn 2018, among China, India, Japan, South Korea, Australia, and rest of APAC, China held thelargest revenue share in the market, owing to its growing number of urban lighting projects forbuildings, roads and railways, rising government spending on bettering the lighting system inshopping malls, offices, and hospitals, and surging demand for energy-efficient and eco-friendlylighting products.With the help of energy-efficient lighting, the greenhouse gas emission and thermal pollution can beminimized. Government initiatives toward checking carbon emissions are playing an important partin supporting the growth of the APAC LED lighting market. In 2015, the Government of Indialaunched the Street Light National Programme (SLNP) to encourage energy efficiency. SLNP isaimed at replacing 35 million conventional lights with LED lights.With the help of energy-efficient lighting, the greenhouse gas emission and thermal pollution can beminimized. Government initiatives toward checking carbon emissions are playing an important partin supporting the growth of the APAC LED lighting market. In 2015, the Government of Indialaunched the Street Light National Programme (SLNP) to encourage energy efficiency. SLNP isaimed at replacing 35 million conventional lights with LED lights.Hence, with the growing initiatives of governments toward energy-efficient lighting, building newresidential houses and commercial buildings, and development of smart cities with all modern© P&S Intelligence. All rights reserved2
facilities, the demand for LED lighting is escalating, thereby resulting in significant growth ofthe APAC LED lighting market.© P&S Intelligence. All rights reserved3
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APAC LED Lighting Market Set for Rapid Growth Forecast 2019-2024

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