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(IT-NEWSWIRE.COM, September 12, 2019 ) According to the latest report by IMARC Group, titled “LED Flood Light Market Research Report and Forecast 2019-2024”, the global LED flood light market size reached US$ 3.64 Billion in 2018. LED flood lights are high-intensity artificial lights that are widely utilized for outdoor lighting purposes. They offer a bright white light which beams out at a broad angle, efficiently directing light at the target area. These lights are extremely energy-efficient and offer higher illumination as compared to other lighting products, such as compact fluorescent lamps (CFLs) and incandescent lights. These lights are made up of sturdy materials to endure extreme temperatures and harsh weather conditions. Also, these lights do not produce ultraviolet (UV) or infrared radiations, owing to which they are widely employed to illuminate yards, stages, stadiums, playgrounds, warehouses, gardens, security perimeters and living spaces.
Request for a free sample copy of this report: https://www.imarcgroup.com/led-flood-light-manufacturing-plant/requestsample
Global LED Flood Light Market Trends:
LED flood lights are extremely durable and have a relatively long service life, thereby reducing the requirement for frequent replacement. Additionally, these lights require minimal maintenance and are enclosed within unbreakable coverings. Moreover, since the heat emanated by these lights is very low, they aid in reducing the overall ambient room temperature across residential and commercial sectors. Owing to these features, along with the negligible repair and maintenance costs associated with them, these lights are gaining widespread preference among the masses. Apart from this, the escalating electricity costs and growing environmental-consciousness have led the masses to make a shift toward energy-efficient lighting systems, which is boosting the sales of these lights worldwide. Also, governments of various countries are promoting the use of these LED lights as a measure for sustainable development, which is further creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to reach a value of US$ 6.35 Billion by 2024, growing at a CAGR of 9.3% during 2019-2024.
Explore full report with table of contents: https://www.imarcgroup.com/led-flood-light-manufacturing-plant
Market Summary:
Market by Application:
Based on the application, the market has been divided into retrofit, retail and hospitality, outdoor, offices, architectural, residential and industrial segments. Amongst these, retrofit exhibits a clear dominance in the market.
Market by Region:
On the geographical front, China holds the leading position in the market, accounting for the majority of the total market share. Other major regions include India, Europe, the United States, Japan, Brazil, and Russia.
Competitive Landscape:
The competitive landscape of the market has also been studied in the report with the detailed profiles of the key players operating in the market.
Browse More Reports By IMARC Group:
Thailand LED Market Research Report and Forecast: https://www.imarcgroup.com/thailand-led-market
Russia LED Market Research Report and Forecast: https://www.imarcgroup.com/russia-led-market
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Pvt. Ltd.
Richard Lewis
6317911145
sales@imarcgroup.com
Source: EmailWire.Com 
Source: EmailWire.com
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