East Africa LED Lighting Market Estimated to Reach US$ 1,473 Million By 2027 | CAGR of 17.6% - Digital Journal

2022-09-17 10:22:04 By : Ms. Mary Huang

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According to IMARC Group latest report titled “East Africa LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on LED lighting market in East Africa. The report also includes competitor and regional analysis, and contemporary advancements in the market. The East Africa LED lighting market reached a value of US$ 587 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,473 Million by 2027, exhibiting at a CAGR of 17.6% during 2022-2027.

A light-emitting diode (LED) is an environment-friendly semiconductor device that generates narrow-spectrum and non-coherent light when an electric current passes through it. It helps in saving overall energy consumption in comparison to other conventional lighting products, including fluorescent and incandescent light bulbs. At present, it is rapidly replacing conventional lights on account of their numerous advantages, such as compact size, longer lifespan, low heat output, less power consumption, reliability, fast switching, improved physical robustness and minimum radiation emission. As a result, it found extensive applications across residential, highway and roadway, industrial, commercial, architectural, government, and public places.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Significant growth in the construction industry majorly drives the market in East Africa. Along with this, the growing investments in several construction activities in developing countries and the increasing consumer inclination towards energy-efficient lighting sources are significantly supporting the market across the region. Apart from this, the declining manufacturing cost of LEDs, coupled with the escalating demand for energy-efficient and sustainable lighting solutions among the masses, are positively influencing the market growth. Moreover, the implementation of stringent government regulations to lower the high energy consumption and monitor environmental issues is creating a positive market outlook in East Africa. Other factors driving the market include augmenting electricity costs, rural electrification and continual expansion of the commercial and residential sectors across the region.

Explore Full Report with Table of Contents: https://www.imarcgroup.com/east-africa-led-lighting-market

East Africa LED Lighting Market Segmentation:

Our report has categorized the market based on region, application, product type and distribution channel.

Market Breakup by Product Type:

Market Breakup by Distribution Channel:

Key highlights of the report:

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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

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