China LED Lighting Market Forecast
- 6 years ago
For More Information: http://www.renub.com/china-led-lighting-market-is-forecasted-to-be-us-24-billion-by-2024-65-nd.php
By the end of year 2024, China LED lighting market is forecast to witness a shipment of US$ 24 Billion. Year on Year China’s lighting industry has been on the rise and the country has become a leading world lighting consumer compared to last 20 years. The growth in China LED industry is due to mounting consumer demand for energy-efficient lighting systems, lessening in prices of LED, and high penetration of LED as a light source in the general lighting market are expected to drive the growth of this market. China’s lighting market is experiencing shifts from conventional lighting to LED technology.
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Evolution of LED
In the year 2000, “Light-Emitting Diode” was developed. LED is an electronic device that discharges light when an electrical current is passed through it. Its main characteristic, compared to traditional lighting technologies such as incandescent light or compact fluorescent lamp, lies in its improved durability and energy saving. LED consumes on an average 85 percent less energy than bulb, have a longer lifespan and last 15 up to 20 years. The energy efficient nature of LED allows them to produce a brighter light than other types of bulbs while using less energy. They are environment-friendly; they don’t contain any toxic substance or gas contrary halogen bulb, which contains mercury for instance. LED market covers a large scope of applications provides shop, residential, office, hospitality, industrial, outdoor and architectural solution lighting.
By the end of year 2024, China LED lighting market is forecast to witness a shipment of US$ 24 Billion. Year on Year China’s lighting industry has been on the rise and the country has become a leading world lighting consumer compared to last 20 years. The growth in China LED industry is due to mounting consumer demand for energy-efficient lighting systems, lessening in prices of LED, and high penetration of LED as a light source in the general lighting market are expected to drive the growth of this market. China’s lighting market is experiencing shifts from conventional lighting to LED technology.
Request a free sample copy of the report: http://www.renub.com/contactus.php
Evolution of LED
In the year 2000, “Light-Emitting Diode” was developed. LED is an electronic device that discharges light when an electrical current is passed through it. Its main characteristic, compared to traditional lighting technologies such as incandescent light or compact fluorescent lamp, lies in its improved durability and energy saving. LED consumes on an average 85 percent less energy than bulb, have a longer lifespan and last 15 up to 20 years. The energy efficient nature of LED allows them to produce a brighter light than other types of bulbs while using less energy. They are environment-friendly; they don’t contain any toxic substance or gas contrary halogen bulb, which contains mercury for instance. LED market covers a large scope of applications provides shop, residential, office, hospitality, industrial, outdoor and architectural solution lighting.