Global Commercial and Industrial Led Lighting Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Global Commercial and Industrial LED Lighting Market is expected to witness a CAGR of 16.4% during the forecast period (2022-2027). Governments in both developed and developing countries are working to reduce high energy consumption by enacting various quality laws that assist them in maintaining customer safety, reducing energy consumption, and keeping track of environmental challenges. LED lights are energy-efficient solutions that provide 50,000 hours of illumination while using less electricity. As a result, rigorous government restrictions governing the usage of high-energy-consuming lighting are expected to boost market growth.
Key HighlightsThe Global Commercial and Industrial LED Lighting Market is a moderately competitive market with significant players like Signify NV (Philips Lighting), WAC Lighting, Cree Lighting (Ideal Industries Inc), and Siteco GmbH, Wipro Lighting Limited, etc. The players in the market are innovating advanced and comprehensive products and solutions to cater to the complex requirements of their customers.
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