Growth Drivers, Industry Size and Share 2021, Forecast 2026 – Stillwater Current

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According to the latest IMARC group report, entitled “Thailand LED Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021-2026” the The size of the LED market in Thailand reached a value of US $ 971.4 million in 2020. For the future, the IMARC Group expects the market grow at a CAGR of around 24% during 2021-2026.

Light Emitting Diodes (LEDs) are semiconductor devices that generate narrow spectrum light. An electric current passes through the electronic chip in the LED to illuminate the device and produce visible light. LED lamps are directional light sources that provide high brightness and intensity with a diverse color gamut. They use heat sinks to absorb the heat produced by the device, which is then dissipated into the environment to keep them from overheating. As a result, they emit little or no heat and greenhouse gases (GHGs) while being characterized by an extended lifespan. Plus, they offer instant lighting, improved efficiency, fast switching options, and unique design opportunities. They are therefore replacing traditional technologies, including incandescent, fluorescent and compact fluorescent lamps, in many application segments.

As the novel coronavirus (COVID-19) crisis sweeps the world, we are continually monitoring changes in markets, as well as consumer buying behaviors around the world – our estimates on the latest market trends and values. forecasts after examining the impact of this pandemic.

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LED market trends in Thailand:

The market is mainly driven by the growing demand for energy efficient lighting solutions in Thailand. The increase in energy consumption and high electricity prices in the country have contributed to the growing awareness of energy conservation among the masses. This, combined with the growing demand for superior lighting technologies, has significantly boosted sales of LED lamps. There has also been a gradual shift from traditional lighting technologies to LEDs due to their versatility, low maintenance costs, and other associated benefits. Apart from this, there has been a significant expansion of residential and infrastructure projects in the country, supported by the increasing influx of tourists to Thailand. This has prompted builders to use high performance and efficient lighting solutions which, in turn, makes it easier to adopt LED lights. In addition, the Thai government offers numerous grants for energy conservation programs in the public and private sectors. They are also focusing on reducing the costs of LEDs in the country to make them more affordable for the general public. In addition, the Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority (PEA) are taking initiatives to promote the use of these lamps across the country. In addition, the increasing use of LEDs in the automotive, healthcare and consumer electronics industries is acting as another major growth driver.

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Thailand LED Market Analysis and Segmentation 2021-2026:

Market breakdown by region

  • Northern Thailand
  • Northeast Thailand
  • Western Thailand
  • Central thailand
  • Eastern thailand
  • Southern thailand

Market breakdown by product type

  • Light panels
  • Lights down
  • Floor lamps
  • Tube lamps
  • Bulbs
  • Others

Market breakdown by application

  • Commercial
  • Residential
  • Institutional
  • Industrial

Market breakdown by type of installation

  • New installation
  • Modernization facility

Competitive landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Highlights of the report:

  • Market performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market drivers and success factors
  • SWOT analysis
  • Value chain
  • Complete mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

About Us:

The IMARC group is a leading market research company providing management strategies and market research worldwide. We partner with clients across industries and regions to identify their most exciting opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include key business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasting and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and new processing methods are at the top of the market. business expertise.

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