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LED Production Equipment Market to Grow at CAGR of 5.5% 2015-2019
February 5, 2016 | PRNewswireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Global LED Production Equipment Market 2015-2019" report to their offering. The global LED production equipment market is expected to grow at a CAGR of 5.5% during the period 2015-2019.
Some of the regulations and policies imposed by governments of countries such as China and Taiwan favoring the adoption and production of LEDs is expected to drive LED production. As a result of this strong support from governments, these countries have witnessed an increase in investments, an increase in the number of fab facilities, as well as an increase in the sales of LED lamps domestically.
According to the report, LED lighting is gaining in popularity, and in turn, high demand globally. The majority of the growth is derived from general lighting applications where LEDs are used for applications such as commercial, industrial, outdoor, and residential lighting. The increasing demand from these applications segments is a key factor contributing to market growth.
Further, the report states that the supply of LEDs from manufacturers has large-scale production capabilities, but the demand of LEDs highly depends on the replacement of traditional lighting sources that have high penetration in the market.
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