LED Tube Lights Market: Worldwide Industry Analysis, Market Share, Market Size and Forecast 2026
According to a new market report published by Credence Research Inc “LED Tube Lights Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the global LED Tube Lights market worldwide was valued at US$ 3,705.0 Mn in 2017 and is set to cross US$ 13,000.0 Mn by 2026, growing with a CAGR of 15.2% during the forecast from 2018 to 2026. The LED Tube Lights Market Research Report Forecast 2018-2026 is an important source of insightful data for market strategists. It presents the LED Tube Lights industry overview with growth analysis and past & futuristic cost, income, demand and supply data (as relevant). The research analysts present a detailed representation of the value chain and its distributor analysis. This LED Tube Lights Market study gives complete data which improves the understanding. [Continue reading…] Market Insight: The demand for LED tube lights is growing considerably as these tubes offer smooth, constant and clear supply of light and consumes less power. Owing to their long life and higher efficiency these lighting tubes are rapidly replacing traditional fluorescent tube lights in residential and commercial applications. One of the most prominent factors driving the global LED tube lights market growth is the stringent energy consumption regulations being implemented in all major countries across the world. Moreover, the fact that LED tube lights offer high efficiency is another important factor leading to its increased adoption. Therefore, these factors are expected to drive the demand for LED tube lights during the forecast period from 2018 to 2026. However, high initial cost of LED tube lights is one of the restraining factors impacting the market growth negatively.