Linear LED Strip Fixture Market Size, Share, & Trends Analysis Report By Output Voltage (12V, 24V), By Application (Retail, Hospitality), By Mounting Type, By Fixture Wattage, By Color Temperature, By Region, And Segment Forecasts, 2023 - 2030

Linear LED Strip Fixture Market Size, Share, & Trends Analysis Report By Output Voltage (12V, 24V), By Application (Retail, Hospitality), By Mounting Type, By Fixture Wattage, By Color Temperature, By Region, And Segment Forecasts, 2023 - 2030

Linear LED Strip Fixture Market Growth & Trends

The global linear LED strip fixture market size is expected to reach USD 4.97 billion by 2030, registering a CAGR of 12.0% from 2023 to 2030, according to the new reports of Grand View Research, Inc. Due to the benefits, including a longer lifespan, lower energy consumption, and less maintenance, linear LED strips have become one of the most popular lighting solutions. For instance, the 50,000-hour lifespan of the LED tape offered by InStyle LED Ltd., a UK-based lighting solution provider, is greater than the 2,000-hour lifespan of incandescent bulbs and the 15,000-hour lifespan of CFLs. LED technologies offer various environmentally friendly advantages, including quick cycling and environmental energy efficiency in addition to lowering carbon emissions.

Compared to fluorescent lighting, which only converts up to 10% of the energy supply and wastes the rest as heat, LED technology can convert up to 95% of the energy. This higher efficiency of LED indicated less power consumption to generate a high amount of light. Particularly, households prefer stylish, opulent lighting. Consumers looking to improve the aesthetic appeal of their houses are likely to adopt premium decorative lights. By incorporating linear LED stripes in the kitchen, wardrobe, stairway, etc., interior designers improve the home's atmosphere. As required by homeowners, these stripes can produce the right impression and atmosphere. For instance, John Cullen's linear LED stripes can be utilized to highlight items like decorations, books, and workstations as well as to generate enticing levels of light in a place.

As predicted, the state of the world economy has remained the same. Two instances of the economic downturn include the European debt crisis and the world financial crisis. The entire output and demand for products made with linear LED strips have been impacted by the shaky economic conditions in industrialized regions like Europe. 1300 Chinese exporters were included on the U.S. government's list, and 25% tariffs were imposed on their goods. Given that there are more than ten types of LED lighting items on the tariff list, it is anticipated that it would have a detrimental impact on the market for products made with linear LED strips.

Even while many companies have facilities outside of China, these facilities wouldn’t be sufficient to supply the demand for more than 85% of LED lighting goods that are produced in China. Asia Pacific accounted for the largest revenue share of over 43.0% in 2022 and is expected to retain its position over the forecast period. There is a growing environmental consciousness, with a focus on reducing carbon emissions and adopting sustainable practices, which has boosted the product demand in the region. Key market players have an extended operating history, a large customer base, and significant competitive strengths. Vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products

Linear LED Strip Fixture Market Report Highlights

• The 3000-K–4000 K segment accounted for the largest share of over 33.2% in 2022 and is anticipated to maintain its dominance over the forecast period owing to the growing need for neutral white light that closely resembles daytime sunlight
• The 24V segment is expected to observe the highest CAGR of 13.3% during the forecast period. The growing need for LED strips to have greater voltage, safety, flexibility in design, and customization options is driving the demand for 24V products across various verticals
• The 15W to 50W segment is anticipated to witness exceptional growth at a CAGR of 13.2% during the forecast period. Architectural lighting and accent lighting applications frequently use LED strip fixtures with power ratings of 15W to 50W
• In hotels, restaurants, museums, and entertainment venues, they can be utilized to emphasize architectural details, brighten building facades, or provide eye-catching lighting effects, thereby driving the segment growth
• The recessed segment is anticipated to register a considerable CAGR of 13.1% over the forecast period. The indirect and diffused illumination provided by the recessed fixtures enhances the visual comfort of the inhabitants
• As a result, recessed LED strip lamps are appropriate for places like businesses, schools, and hospitals where glare reduction and eye comfort are priorities, thus, enhancing the product demand
• The residential segment is anticipated to register a CAGR of 13.9% over the forecast period. As these lights require less energy and contain no mercury or other harmful elements, LED linear lights are environmentally beneficial and reduce carbon footprint and promote sustainability

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