LED Strip market size (a most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 935.2 million in 2022. Over the next five years, the LED Strip market will register a 15.6% CAGR in terms of revenue, and the global market size will reach US$ 1671.4 million by 2027.
LED Strip Market Overview
Forge Europa dominated the market, with accounted for 35.77% of the LED Strip revenue market share in 2017. LEDVANCE and Ledridge Lighting are the key players and accounted for 10.13%, 9.93% respectively of the UK LED Strip market share in 2017. In terms of applications, the commercial application segment was estimated to account for the highest sales volume share of 85.70% in 2017 and is expected to gain significant market share by the end of 2023.
The market is not only influenced by the price, but also influenced by the product performance. The leading companies own the advantages on better performance, more abundant product's types, better technical and impeccable service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The report also assesses the key opportunities in the LED Strip market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global LED Strip Market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Recent Development:
LEDVANCE LAUNCHES NEW GENERATION OF IMPROVED LED STRIPS WITH ACCESSORIES FOR NUMEROUS APPLICATION AREAS
22.04.2022--With its new and improved portfolio of white LED Strips, LEDVANCE now offers an even broader range of flexible LED Strips with matching drivers, accessories and controllers. The new LED Strips can be easily combined with the comfortable VIVARES lighting management system enabling even more a broad and versatile range of lighting projects. In addition, the flexible, powerful, and efficient Tunable White LED Strips can also be used in combination with BIOLUX human centric lighting. Thanks to their compact size, high brightness, low power consumption and extreme versatility, the LED Strips are popular in many facets of lighting design. Thus, installers and electro planners will appreciate the improved Performance or Value Class Strips in various application areas including hospitality, office, public buildings, shops and residential.
What are the major Applications, Types, and Regions of LED Strip Market?
LED Strip Market is segmented based on the type, applications, companies and regions.
By Type, LED Strip Market has been segmented into
The end user’s industry application on LED Strip Market is,
- Home Application
- Commercial Application
- Others
Regional Analysis:
The led strip market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is dominating the market and is expected to continue its positive growth. The presence of many major players in the countries in the Asia Pacific region is a reason for it. The demand for LED strip lights in outdoor events is rising. As a result, the preference towards fancy lightings among customers in residential areas is increasing as well. These factors are expected to propel the growth of the market in the countries in the region.
Europe and North America flex LED strip lights markets are projected to register significant CAGR over the forecast period. The demands in Latin America, and Middle East & Africa will also account for moderate opportunities in terms of revenue and consumption over the forecast period in the target market. The Asia Pacific market is going to have the most opportunities during the forecast period. The number of major players in the led market is significant in the region. The extensive use of led strip lights will create more opportunities for the market.
What is our LED Strip Market report scope?
Reports Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 15.6% during the review period (2022 to 2027).
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By Type
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By Application
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- Home Application
- Commercial Application
- Other
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By Companies
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Forge Europa, LEDVANCE, Ledridge Lighting, Digital Advanced Lighting
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Regions Covered
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• North America
• Europe
• Asia-Pacific
• Rest of the World
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Countries Covered
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• US
• Canada
• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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95
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this LED Strip Report
- Evaluate LED Strip market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the LED Strip market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Frequently Asked Questions
What is the study period of this market?
The LED Strip Market is studied from 2017 - 2027.
Who are the key players in LED Strip Market?
Forge Europa, LEDVANCE, Ledridge Lighting, Digital Advanced Lighting, Lighting Ever, LEDMY and others.
What are the significant types of LED Strip Market?
5050, 3528, Others,
What are the major end-use applications of the LED Strip Market?
Home Application, Commercial Application, Others
What segments are covered in the LED Strip Market report?
The Global LED Strip Market is Segmented on the basic of Product, Application, and Geography.
How can I get a sample report/company profile for the LED Strip Market?
The sample report for the LED Strip Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
