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Philippines LED lighting market reached a value of US$ 485.6 Million in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
LED lights are significantly more efficient than conventional lighting products and produce more light per watt. Moreover, LEDs have a significantly longer lifespan compared to conventional light with estimates suggesting that LEDs have 35,000 to 50,000 hours of useful life, though time to complete failure may be longer. Some of the other advantages of LEDs include low maintenance costs, sturdiness, safety, non-toxicity, etc. Moreover, the Philippines government is also playing an active role in driving the demand of LED products through subsidies and a ban on incandescent lights. Electricity costs in the Philippines represent among the highest in the world due in large part to the country’s dependence on expensive imported fossil fuels, both diesel oil and coal. With lighting currently accounting for 18-20% of the total electricity consumption in the country, energy efficient lighting such as LED’s represent a key driver in reducing the electricity costs. Some of the other major factors driving the demand of LED products in Philippines include reducing costs of LED lights, launch of numerous public and private infrastructure projects and rising consumer awareness levels.
IMARC Group’s latest report provides a deep insight into the Philippines LED market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. 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 Philippines LED market in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the Philippines LED market, along with forecasts for the period 2021-2026. Our report has categorized the market based on product type, application and installation type.
Breakup by Product Type
Breakup by Application
Breakup by Installation Type
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Application, Installation Type|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 1999
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Corporate License: US$ 3999
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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