LED Lighting Market Size in South Korea to Grow by 1.16 Bn, Need for LED Lighting in Hazardous Areas to Drive Growth - Technavio

NEW YORK, Nov. 2, 2022 /PRNewswire/ -- The LED lighting market size in South Korea is growing at a CAGR of 6.99% and is expected to register an incremental growth of USD 1.16 billion between 2021 and 2026. The report analyses the market size, growth, and provides accurate predictions on the growth of the market. The key highlights of the report are mentioned below:

• The report recognizes the following as the key players in the LED lighting market in South Korea: Acuity Brands Inc., ams-OSRAM AG, ANYLUX Co. Ltd., Backsan LNT Co. Ltd., DSE CO. LTD., among others.
• The LED lighting market in South Korea is fragmented in nature.
• Market to observe 7.84% YOY growth in 2022.

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Market Dynamics

The LED lighting market in South Korea is expected to witness substantial growth during the forecast period, primarily due to the need for LED lighting in hazardous areas. Several industries, such as chemicals and fertilizers, aerospace and defense, food and beverage, maritime, and oil and gas, require effective lighting in hazardous areas. Manufacturing plants should be properly lit to prevent accidents and improve working conditions. Some of the major lighting products used in hazardous areas include cleanroom lighting, linear luminaires, portable lamps, hand lamps, helideck and navigation lights, floodlighting, cabin lights, and several others. These factors are expected to fuel the growth of the LED lighting market in South Korea during the forecast period.

The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report

Vendor Landscape

The vendors in the market are deploying growth strategies such as product portfolio, quality of product, and reliability of the product to compete in the market. The top players in the LED lighting market in South Korea have been identified based on revenue and market dominance in terms of customer base, experience, product portfolio, geographical presence, goodwill, financial condition, and research and development (R&D). The LED lighting market in South Korea is highly competitive. In addition, there is a high influx of private labels into the market. As the market has a high potential for growth, vendors are focusing on gaining larger market shares or market leadership. End-users of LED lighting products are price-sensitive and have a large number of alternatives to choose from. This has resulted in price wars among vendors.

This report provides a full list of key vendors, their strategies, and latest developments. Buy Now for detailed information about vendors

Key Segments

The LED lighting market in South Korea is segmented by application (residential, commercial, industrial, outdoor, and others) and product (LED lamps and LED luminaires). The residential segment is expected to be the largest segment of the LED lighting market in South Korea during the forecast period. The segment is driven by the increase in the urban population.

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Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the LED lighting market in South Korea report: 

 Market Player Information 

• Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
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Industrial and Commercial LED Lighting Market by Product Type and Geography - Forecast and Analysis 2022-2026: The declining manufacturing cost of LEDs is driving the market growth. The decline in the manufacturing cost of LEDs can be mainly attributed to the decreasing ASP of semiconductor chips and components used in the manufacturing process of LED devices. It is also lowering the initial installation cost of LED lamps and fixtures.

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Table Of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 11: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 12: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
• Exhibit 13: Chart on South Korea: Year-over-year growth 2021-2026 (%)
• Exhibit 14: Data Table on South Korea: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 15: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 22: Chart on Application - Market share 2021-2026 (%)
• Exhibit 23: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 24: Chart on Comparison by Application
• Exhibit 25: Data Table on Comparison by Application

• 5.3 Residential - Market size and forecast 2021-2026
• Exhibit 26: Chart on Residential - Market size and forecast 2021-2026 ($ million)
• Exhibit 27: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
• Exhibit 28: Chart on Residential - Year-over-year growth 2021-2026 (%)
• Exhibit 29: Data Table on Residential - Year-over-year growth 2021-2026 (%)

• 5.4 Commercial - Market size and forecast 2021-2026
• Exhibit 30: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
• Exhibit 32: Chart on Commercial - Year-over-year growth 2021-2026 (%)
• Exhibit 33: Data Table on Commercial - Year-over-year growth 2021-2026 (%)

• 5.5 Industrial - Market size and forecast 2021-2026
• Exhibit 34: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 36: Chart on Industrial - Year-over-year growth 2021-2026 (%)
• Exhibit 37: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

• 5.6 Outdoor - Market size and forecast 2021-2026
• Exhibit 38: Chart on Outdoor - Market size and forecast 2021-2026 ($ million)
• Exhibit 39: Data Table on Outdoor - Market size and forecast 2021-2026 ($ million)
• Exhibit 40: Chart on Outdoor - Year-over-year growth 2021-2026 (%)
• Exhibit 41: Data Table on Outdoor - Year-over-year growth 2021-2026 (%)

• 5.7 Others - Market size and forecast 2021-2026
• Exhibit 42: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.8 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 47: Chart on Product - Market share 2021-2026 (%)
• Exhibit 48: Data Table on Product - Market share 2021-2026 (%)

• 6.2 Comparison by Product 
• Exhibit 49: Chart on Comparison by Product
• Exhibit 50: Data Table on Comparison by Product

• 6.3 LED lamps - Market size and forecast 2021-2026
• Exhibit 51: Chart on LED lamps - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Data Table on LED lamps - Market size and forecast 2021-2026 ($ million)
• Exhibit 53: Chart on LED lamps - Year-over-year growth 2021-2026 (%)
• Exhibit 54: Data Table on LED lamps - Year-over-year growth 2021-2026 (%)

• 6.4 LED luminaires - Market size and forecast 2021-2026
• Exhibit 55: Chart on LED luminaires - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Data Table on LED luminaires - Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Chart on LED luminaires - Year-over-year growth 2021-2026 (%)
• Exhibit 58: Data Table on LED luminaires - Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 61: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 62: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 63: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 64: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 65: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 66: Matrix on vendor position and classification

• 10.3 ams OSRAM AG 
• Exhibit 67: ams OSRAM AG - Overview
• Exhibit 68: ams OSRAM AG - Business segments
• Exhibit 69: ams OSRAM AG - Key offerings
• Exhibit 70: ams OSRAM AG - Segment focus

• 10.4 Eaton Corp. Plc 
• Exhibit 71: Eaton Corp. Plc - Overview
• Exhibit 72: Eaton Corp. Plc - Business segments
• Exhibit 73: Eaton Corp. Plc - Key news
• Exhibit 74: Eaton Corp. Plc - Key offerings
• Exhibit 75: Eaton Corp. Plc - Segment focus

• 10.5 HWASHIN KOREA CO. LTD. 
• Exhibit 76: HWASHIN KOREA CO. LTD. - Overview
• Exhibit 77: HWASHIN KOREA CO. LTD. - Product / Service
• Exhibit 78: HWASHIN KOREA CO. LTD. - Key offerings

• 10.6 LG Innotek Co. Ltd. 
• Exhibit 79: LG Innotek Co. Ltd. - Overview
• Exhibit 80: LG Innotek Co. Ltd. - Business segments
• Exhibit 81: LG Innotek Co. Ltd. - Key news
• Exhibit 82: LG Innotek Co. Ltd. - Key offerings
• Exhibit 83: LG Innotek Co. Ltd. - Segment focus

• 10.7 Lumileds Holding BV 
• Exhibit 84: Lumileds Holding BV - Overview
• Exhibit 85: Lumileds Holding BV - Product / Service
• Exhibit 86: Lumileds Holding BV - Key offerings

• 10.8 Nichia Corp. 
• Exhibit 87: Nichia Corp. - Overview
• Exhibit 88: Nichia Corp. - Product / Service
• Exhibit 89: Nichia Corp. - Key offerings

• 10.9 Samsung Electronics Co. Ltd. 
• Exhibit 90: Samsung Electronics Co. Ltd. - Overview
• Exhibit 91: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 92: Samsung Electronics Co. Ltd. - Key news
• Exhibit 93: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 94: Samsung Electronics Co. Ltd. - Segment focus

• 10.10 Savant Systems Inc. 
• Exhibit 95: Savant Systems Inc. - Overview
• Exhibit 96: Savant Systems Inc. - Product / Service
• Exhibit 97: Savant Systems Inc. - Key offerings

• 10.11 Seoul Semiconductor Co. Ltd. 
• Exhibit 98: Seoul Semiconductor Co. Ltd. - Overview
• Exhibit 99: Seoul Semiconductor Co. Ltd. - Product / Service
• Exhibit 100: Seoul Semiconductor Co. Ltd. - Key offerings

• 10.12 SMART Global Holdings Inc. 
• Exhibit 101: SMART Global Holdings Inc. - Overview
• Exhibit 102: SMART Global Holdings Inc. - Business segments
• Exhibit 103: SMART Global Holdings Inc. - Key news
• Exhibit 104: SMART Global Holdings Inc. - Key offerings
• Exhibit 105: SMART Global Holdings Inc. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 106: Inclusions checklist
• Exhibit 107: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 108: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 109: Research methodology
• Exhibit 110: Validation techniques employed for market sizing
• Exhibit 111: Information sources

• 11.5 List of abbreviations 
• Exhibit 112: List of abbreviations

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