The LED floodlight market will grow at a CAGR of 11.1% between 2021-2026 – Energy Siren

2021-11-16 18:38:48 By : Mr. Jack Wang

According to the latest report of IMARC Group, "LED Floodlight Market: Global Industry Trends, Share, Scale, Growth, Opportunities and Forecasts 2021-2026", the market value in 2020 will reach 5.8 billion U.S. dollars. The global LED floodlight market reports that the compound annual growth rate from 2021 to 2026 is 11.1%. LED floodlights refer to lighting fixtures used to illuminate large areas, such as stages, family living spaces, stadiums, courtyards, private gardens, etc. These lamps have many advantages over other light sources because they are environmentally friendly, do not produce infrared or ultraviolet radiation, help reduce carbon footprint, require low power, and so on. LED floodlights require minimal maintenance and have a highly durable design.

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With the new coronavirus (COVID-19) crisis sweeping the world, we continue to track market changes and the buying behavior of global consumers, and after considering the latest market trends and forecasts, we will estimate the impact of this epidemic.

The increase in the use of LED floodlights in outdoor lighting in many industrial and commercial fields (such as stadiums, warehouses, security perimeters, etc.) is driving the development of the LED floodlight market. In addition, some building owners and managers are increasingly adopting LED floodlights because they help save daily operation and maintenance costs and save energy. In addition, LED floodlights also meet the ever-increasing demand for green lighting technology, with the best light efficiency and cold beam bulbs. In addition, several government agencies are expected to continue to increase their support for promoting sustainable development, which is expected to boost product demand during the forecast period.

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LED floodlight market segmentation:

Our report categorizes the market by region and application.

The main highlights of the report:

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