LED Tube Light Market Report: Trends, Forecast and Competitive Analysis to 2030

LED Tube Light Trends and Forecast

The future of the global LED tube light market looks promising with opportunities in the residential and commercial markets. The global LED tube light market is expected to reach an estimated $8.45 billion by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are growing demand for smart city projects and growing usage of LED tube lights in vehicles, mobile devices, signal and signs as they are energy-efficient and provides superior ambient compared to other lights.

A more than 150-page report is developed to help in your business decisions.

LED Tube Light by Segment

The study includes a forecast for the global LED tube light by tube type, application, and region.

LED Tube Light Market by Tube Type [Shipment Analysis by Value from 2018 to 2030]:

• T5
• T8
• T12
• Others

LED Tube Light Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial

LED Tube Light Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of LED Tube Light Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies LED tube light companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the LED tube light companies profiLED in this report include-

• Osram
• Syska
• Toshiba
• Seoul Semiconductor
• Acuity Brands
• Havells
• Ideal Industries

LED Tube Light Market Insights

• Lucintel forecasts that T8 is expected to witness highest growth over the forecast period due to its high longevity and durability.

• Within this market, commercial will remain the largest segment due to increasing deployment in malls, clubs, restaurants, and other places.

• APAC is expected to witness highest growth over the forecast perioddue to the reduction in LED prices, and strict government regulations.

Features of the Global LED Tube Light Market

• Market Size Estimates: LED tube light market size estimation in terms of value ($B).

• Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

• Segmentation Analysis: LED tube light market size by tube type, application, and region. in terms of value ($B).

• Regional Analysis: LED tube light market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

• Growth Opportunities: Analysis of growth opportunities in different tube type, application, and region.s for the LED tube light market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the LED tube light market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the LED tube light market size?

Answer: The global LED tube light market is expected to reach an estimated $8.45 billion by 2030.

Q.2. What is the growth forecast for LED tube light market?

Answer: The global LED tube light market is expected to grow with a CAGR of 10.5% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the LED tube light market?

Answer: The major drivers for this market are growing demand for smart city projects and growing usage of LED tube lights in vehicles, mobile devices, signal and signs as they are energy-efficient and provides superior ambient compared to other lights.

Q.4. What are the major segments for LED tube light market?

Answer: The future of the LED tube light market looks promising with opportunities in the residential and commercial markets.

Q.5. Who are the key LED tube light market companies?

Answer: Some of the key LED tube light companies are as follows:

• Osram
• Syska
• Toshiba
• Seoul Semiconductor
• Acuity Brands
• Havells
• Ideal Industries

Q.6. Which LED tube light market segment will be the largest in future?

Answer: Lucintel forecasts that t8 is expected to witness highest growth over the forecast period due to its high longevity and durability.

Q.7. In LED tube light market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast perioddue to the reduction in LED prices, and strict government regulations.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the LED tube light market by tube type (T5, T8, T12, and others), application (residential and commercial), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?