LED Brick Light Market Projected to Grow at a Steady Pace During 2021-2026

February 15, 2022

Stratview Research has published a new report on the LED Brick Light Market, segmented by Type (Solar Energy, Electricity), Application (Residential Building, Commercial Plaza, Stage and KTV, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026. This report provides critical insights on the market dynamics and enables strategic decision making for the existing and new market players.

Market Highlights

The growth of the LED brick light market is primarily driven by widespread product use in numerous applications including buildings, stages, and commercial plazas among others. Increasing residential and commercial construction activities is likely to drive the growth of the global LED brick light market at a significant rate during the review period. In addition to this, the rising demand for solar energy-based LED brick light is likely to create lucrative opportunities for the players operating in the global market in the coming years.

COVID-19 Impact on LED Brick Light Market

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the LED brick light market negatively as the imposition of complete lockdown and restrictions on trade affected the supply of the product for a short period.

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Segmentation –

This report studies the LED Brick Light Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:

Application Trends

By application, the LED brick light market has been bifurcated into a residential building, commercial plaza, stage & KTV, and others. Under these, the residential building segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing demand for LED brick lights in residential buildings due to high efficiency and cost-effectiveness.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high product adoption rate and presence of key market players such as Cascade Lighting, Inc. (US) and Solarroad (US). The market growth in the Asia-Pacific region is expected to be driven by increasing demand for solar energy-based LED brick lights particularly in developing countries such as India and China.

Key Players:

Following are the key players in the LED Brick Light Market:

• LIGMAN (Australia)
• Ansell Lighting (UK)
• Cascade Lighting, Inc. (US)
• Collingwood Lighting (UK)
• Solarroad (US)
• Guangdong Xianlang Lighting Co., Ltd. (China)
• Shenzhen Ewin Lighting Technology Co., Ltd (China)
• Vast Sun Technology Co., Limited (China)
• Shenzhen Visual Lighting Technology Co. Ltd (China)
• Ningbo QingHua Solar Lighting Co., LTD (China).

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Author : Harshad