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LED Brick Light Market Report
LED Brick Light Market Trends, Dynamics & Market Insights
The LED Brick Light market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x% during the forecast period.
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Brick lights are known to be a great low-level lighting solution suitable for applications including paths, stairwells, or driveways. Brick wall lights were designed to replace a single brick but are now available in various sizes to suit different requirements. Based on type, LED brick lights can be categorized as solar energy and electricity.
Key players operating in the LED Brick Light market are-
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.
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.
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.
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.
Here is the list of the group of customers that the LED brick light market hopes to have the greatest opportunity to convert-
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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 Light-ing Technology Co. Ltd (China) and Ningbo QingHua Solar Lighting Co., LTD (China) are among the key players in the LED brick light market.
Widespread product use in numerous applications including buildings, stages, and commercial plazas among others is the prime factor driving the growth of LED brick light market.
The residential building segment is expected to register significant growth in the LED brick light market in the coming years.
North America accounted for the largest share in the LED brick light market in 2020.
LED brick light distributors, LED brick light suppliers, LED brick light manufacturers, Logistics organizations, Government bodies are the target audience in the LED brick light market.
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