Overview and Scope
LED (Light-Emitting Diode) neon lights are the type of lighting that uses LED diodes inside flexible PVC plastic to create a neon look. It is frequently used as ornamental lighting fixtures in commercial and residential settings due to their energy efficiency, endurance, and durability.
Sizing and Forecast
The led (light-emitting diode) neon lights market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to energy efficiency drive, environmental awareness, customization and design flexibility, cost-effectiveness.
The led (light-emitting diode) neon lights market size is expected to see strong growth in the next few years. It will grow to $1.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing demand in various industries, urbanization and infrastructure development, rising popularity in home décor, e-commerce growth. Major trends in the forecast period include technological innovations, smart led neon lights, sustainable materials and manufacturing, artistic and custom designs, interactive and dynamic lighting.
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Segmentation & Regional Insights
The led (light-emitting diode) neon lights market covered in this report is segmented –
1) By Type: Silicone, PVC (Polyvinyl Chloride), Other Types
2) By Application: Household, Commercial
3) By Sales Channel: Retail Or Wholesale, Direct Sales, E-Commerce
Asia-Pacific was the largest region in the LED (light-emitting diode) neon lights market in 2023. The regions covered in the led (light-emitting diode) neon lights market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growing commercial and non-commercial buildings are expected to propel the growth of the LED neon lights market going forward. A commercial building refers to any non-residential structure that is not agricultural, industrial, or institutional. A non-commercial building is any structure or building not used for a commercial enterprise or as a residential residence. LED neon lights offers a clever approach to create a brighter and more even illumination. For instance, in September 2022, according to the University of Michigan’s Center for Sustainable Systems, a US-based organization that develops systems analysis techniques, models, and indicators for developing sustainable futures, in the US commercial building floor space is anticipated to expand by 35% from 2021 and expected to reach 124.6 billion square feet by 2050. In addition, the average size of US homes expanded by 45% in 2021, from 2,185 to 2,565 square feet. Therefore, growing commercial and non-commercial buildings are driving the growth of the LED neon lights market.
Key Industry Players
Major companies operating in the LED (light-emitting diode) neon lights market report are Eaton Corporation, OSRAM Licht AG, Everlight Electronics Co. Ltd., Sylvania Lighting, Lightstec Co. Ltd., JKL Components Corporation, Elstar Electronic Co. Ltd., Cleanlife Energy LLC, North Star Lighting LLC, Nova Flex LED, Beyond LED Technology, NeonPlus, Custom Neon, Shenzhen Ipixel Led Light Co. Ltd., Neon Poodle, Bag&Bones, Elemental LED Inc., LEDYi Lighting, Guangzhou RC Lighting Co. Ltd., Honest Exhibition Limited, Inciseon LLC, LED Neon Flex, Sgi Lighting Inc., Solid Apollo LED, Tekhol Optoelectronic Technology Co. Ltd.
The led (light-emitting diode) neon lights market report table of contents includes:
1. Executive Summary
2. LED (Light-Emitting Diode) Neon Lights Market Characteristics
3. LED (Light-Emitting Diode) Neon Lights Market Trends And Strategies
4. LED (Light-Emitting Diode) Neon Lights Market – Macro Economic Scenario
5. Global LED (Light-Emitting Diode) Neon Lights Market Size and Growth
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31. LED (Light-Emitting Diode) Neon Lights Market Other Major And Innovative Companies
32. Global LED (Light-Emitting Diode) Neon Lights Market Competitive Benchmarking
33. Global LED (Light-Emitting Diode) Neon Lights Market Competitive Dashboard
34. Key Mergers And Acquisitions In The LED (Light-Emitting Diode) Neon Lights Market
35. LED (Light-Emitting Diode) Neon Lights Market Future Outlook and Potential Analysis
36.Appendix
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