The LED light bar market is likely to hold a valuation of US$ 1,669.6 million by 2033. In 2023, the market value is US$ 1,034.8 million. The market is expected to grow by 4.9% from 2023 to 2033.
However, when talking about indoor and outdoor lighting the most energy-efficient solution is LED light bars. Many industries use LED light bars. LED light bars are mostly used by the automotive industry because of their small size, durable nature and better energy use. As the automotive industry is expanding, particularly electric vehicles that demands for LED light bars will be on growing.
In many countries, government policies and initiatives are involved in the promotion of LED light bars globally. Many states support manufacturers, as well as individuals by providing them subsidies and tax rebates to induce their adoption of energy efficient lightings.
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Apart from the automotive and construction sectors, the applications of LED light bars are spread across many industries and sectors, which include the mining industry, the marine industry, the movies and drama industry, and the horticulture industry. They are also used in famous tourism spots to produce creative lighting effects on monuments and buildings.
LED light bars are mostly preferred over other lighting options like halogen and incandescent lamps due to their high luminosity, durability, resistance to wind and extreme temperatures, and high long-term value. Though cheap, low-quality alternatives and high retrofitting costs can adversely affect the LED light bar market,
“Technological innovations in the LED light bar market can really attract a lot of customers in the coming future. Research and development aimed at making them more affordable and AI-integrated can bring substantial change in the demand for LED light bars,” says an analyst at FMI.
Key Takeaways from the LED Light Bar Market Report
- A single-rowed LED light bar dominates the global market with an overall revenue share of 53.3%.
- The United States is the largest consumer of LED light bars, with a total market share of 16.7%. It is followed by China, India, and the United Kingdom.
- Region-wise, Europe dominates the market, capturing a total revenue share of 18.9%.
- Flood-beamed LED light bars are widely used in outdoor as well as industrial lighting. They hold a global market share of 18.5%.
- There is a substantial influx of start-ups in the market with a focus on sustainability and environmental responsibility.
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Competition Analysis of the LED Light Bar Market
The market is competitive due to the presence of several key players and startups. Manufacturers are integrating LED light bars with AI and smart devices, which is expected to propel the demand for LED light bars over the forecast period.
Several startups are entering the LED light bar to create unique products. Companies are strongly emphasizing sustainability and environmental responsibility. They are adopting strategies to expand their customer base. They are also focusing on integrating LED light bars in industries like construction, agriculture, and outdoor recreation.
Recent Developments in the LED Light Bar Market
- In September 2023, Logitech, a renowned gaming company, introduced Litra Beam X LED, a lighting bar catered to the gaming and content creation communities. These light bars were specially designed to provide an RGB lighting experience to gamers.
- Nanoleaf, a Toronto-based company, launched a fresh line of LED light bars curated to sync with music in real-time. These smart LED light bars can be easily connected to smart home setups like Google Home and Amazon Alexa and have the capability to mimic the colors displayed on TV screens or monitors for cinematic surroundings.
Market Segmentation
By Configuration:
- Single row
- Double row
- Triple row
- Quad row
By Beam Pattern:
- Flood
- Spot
- Combo Lights
By Application:
- Events & shows
- Automotive
- Restaurants and bars
- Charter and boats
By Power Rating:
- Below 100W
- 101-200W
- 201-300W
- Above 300W
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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