Global Architectural LED Products Market Is Expected To Witness Massive Growth With Signify Completing Acquisition Of Cooper Industries PLC’s Lighting Business For US$ 1.4 Billion

Architectural LED Products Market


 LEDs are the light source that plays a very dynamic part in how people perceive and comprehend architecture. This light is the most cost-effective medium that allows viewers to not only appreciate the splendor in the architectural structures around them but also to make use of these structures for their own utility. This light enables easy observation of the areas around where buildings or monuments are located in. 

Stringent government regulations regarding the reduction of carbon emission are expected to drive growth of the global architectural LED products market. Many government policies have increased the adoption of efficient lighting systems by construction companies. As a matter of fact, governments of many companies are laying emphasis on the implementation of minimum standards for lighting products efficiency and ban the adoption of incandescent lighting products, in order to curb CO2 emission. For instance, the Chinese Government has banned the use of 60W and 1000W incandescent bulbs across the country, while European Union (EU) has prohibited the use of all types of conventional incandescent lamps in the region. Thus, such factors are expected to drive growth of the global architectural LED products market. Furthermore, increasing consumer preference towards luxurious lifestyle is expected to propel the global architectural LED products market growth in the near future.

High initial cost of installation and low awareness regarding the long-time benefits of LED lamps is expected to restrain growth of the global architectural LED products market. However, the advent of OLEDs, i.e. organic LEDs can present lucrative growth opportunities for key market players in the near future. Among regions, Asia Pacific is expected to witness significant growth in the global architectural LED products market. This is owing to rapid infrastructural development in commercial as well as public spaces in emerging economies such as India and China. Furthermore, Europe is expected to register a robust growth rate, owing to increasing adoption of energy-efficient lighting systems in the region.

Major companies involved in the global architectural LED products market are Samsung Electronics, Epistar Corporation, Toshiba Lighting & Technology Corporation, GE Lighting LLC, Osram Licht AG, Galaxia, Verbatim Ltd., Cree Inc., Philips Lumiled Lighting Company LLC, Cooper Industries PLC, and Signify N.V.

For instance, in October 2019, Signify acquired the lighting business of Cooper Industries PLC for US$ 1.4 billion in cash.

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