Architectural LED Products Market Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

Architectural LED Products Market
Architectural LED Products Market

An LED light bulb or lamp is an electric light that uses one or more light-emitting diodes and is typically used in lighting fixtures. When compared to identical incandescent lamps, LED lamps are more energy-efficient, last longer, and use less energy overall. Compared to incandescent bulbs, LED lights produce heat that is 90% less. Architectural LED products have recently seen a sharp drop in price, which has raised demand for them in a variety of applications.

The demand for LED lighting goods has increased dramatically worldwide due to rising consumer tendency toward affluent lifestyles. Both the business and residential sectors have seen this demand. Additionally, as part of smart city projects, government buildings and monuments are increasingly utilising architectural LED luminaries and lamps. Therefore, during the course of the projected period, these factors are anticipated to promote Architectural LED Products market expansion worldwide. For instance, the Royal Castle in Warsaw, Poland, installed the Philips LED product eW Graze linear lighting solution in 2013.

The Energy Independence and Security Act of 2007 (EISA 2007), which President George W. Bush signed in December 2007, aims to establish new efficiency standards for goods, public structures, and automobiles as well as to increase the generation of clean renewable fuels. The EISA 2007 legislation's Subtitle B, Section 321 established standards and a phase-in timetable for suitable replacement lamps in addition to a phase-out timeline for 40, 60, 75, and 100 watt incandescent bulbs.

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