New Delhi, India (PressExposure) June 24, 2014 -- The South Korea LED lighting market has continued to evolve in recent years through increasing awareness among people about using energy saving LED lighting products. Various government regulations and initiatives have also led to rising sales of LED lighting products such as LED bulbs, LED tubes and others in the country.
The increasing number of branded players in the LED lighting market has led to increased competition in the domestic market leading to price wars and need for reducing cost of manufacturing of LED components. Economic reforms in the country are still underway along with legal, tax and regulatory developments with the market requirements. The future potential of economy of South Korea is largely subject to such reforms and can alter the efficiency of the government's economic, financial and monetary policy.
Backlighting for TVs and monitors is the dominating segment in terms of total revenue contribution in 2013. The segment contributed more than 32% of the total LED lighting market revenue in the country in the year 2013. The second largest contributor in terms of total revenue is the general lighting segment. LED lighting market segmentation by end user is dominated by commercial and industrial sector contributing more than 30% of the total revenue of the LED lighting market in 2013.
With increasing residential projects in the country the demand for LED lighting products for general lighting for household purpose would increase, taking over the architectural lighting segment in the year 2018. Government initiatives to replace the traditional lighting products such as incandescent bulbs used for street lighting with LED bulbs and tubes would spur the demand for LED lighting products in the country.
"It is expected that the entry of international branded players in South Korea will increase competition in the LED lighting market in the near term. The commercial and industrial end user segment would continue to dominate the market for LED lighting in South Korea in the future." according to the Research Analyst, Ken Research.
The report titled "South Korea LED lighting Market Outlook to 2018 - Backlighting Units to Drive LED Growth" provides detailed overview on the South Korea LED lighting market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, LED and LED lighting product manufacturers to align their market centric strategies according to ongoing and expected trends in the future.
Key Topics Covered in the report:
- Market Size of South Korea LED Lighting Market by Value, 2008-2013
- Value Chain of South Korea LED Lighting Market
- Market Segmentation of South Korea LED Lighting Market (by Applications, End Users, Market Structure and Distribution Channels), 2008-2018
- Trends and Developments in South Korea LED Lighting Market
- Company Profiles of Major Players in South Korea LED Lighting Market
- Future Outlook and Projections in South Korea LED Lighting Market, 2014-2018.
- Market Share of Major Players in South Korea packaged LED Industry, 2013
- Key Factors Influencing the Success of Companies in LED Lighting Market
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