A new report by IMARC Group, titled “LED Panel Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” provides a detailed analysis of the global LED panel light market. A variant of LED fixtures, LED panel lights are slim panels of LEDs which come in a variety of shapes, sizes and colours. They have flexible designs and can either be fitted in walls or overhead cavities, or suspended from ceilings. These lights have higher durability, longer usability span and offer better lighting control and higher illumination than conventional sources of lighting such as incandescent or fluorescent lights. Moreover, as the light emitted by LEDs can be too dazzling, LED panel lights come fitted with diffusers that help in providing uniform and glare-free light. This represents an additional advantage that these lights have over other types of LED products. They also represent an energy-efficient and environment friendly lighting source as they consume less than half of the energy used by fluorescent lights and contain no toxic materials.
As a consequence of the numerous advantages offered by LED panel lights over conventional bulbs and tube lights, they are increasingly gaining popularity as an indoor lighting option. Their design and frame material also increase their aesthetic value and make them suitable for use in spaces where appearances are of importance. Consequently, they are used in a number of residential and commercial spaces such as houses, offices, restaurants, malls, showrooms, hospitals, conference halls, laboratories, warehouses, etc.
The report has analysed the market on the basis of frame design and materials used for the manufacturing of LED panel lights. Some of the frames covered in the report include Steel Sheet Frame, Extruded Aluminium Frame, Steel Sheet Frame Coated/Finished with White Powder, Plastic Sheet and Metallized or White Reflector. The report has further segmented the market on the basis of geography. North America, Europe, Middle East, Latin America, Africa China, Japan, and Asia Pacific (excluding China and Japan) represent some of the key regions covered in the report. The report has also examined the competitive landscape of the market and finds that it is highly competitive with a large number of global and local players.
The report provides a detailed roadmap for setting up a LED panel light manufacturing plant. The study covers all the essential aspects of the LED panel light market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. The report also provides SWOT, Value Chain and Porter’s Five Forces analysis. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED panel light industry in any manner.
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