According to the research report titled ‘Global LED Fixtures Market, 2021-2027’, available with MarketStudyReport, global LED fixtures market is slated to grow at a CAGR of 13.9% over the forecast period 2021-2027.
 

Strict regulations on limiting the use of inefficient lighting equipment, and availability of government retrofit and rebate programs to promote use of LED lighting are driving global LED fixtures market growth. Furthermore, extended lifespan of LED lighting as compared to traditional bulbs, and its ability to offer greater lumen power at less wattage are propelling the demand for LED fixtures, thus boosting overall industry outlook.
 

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For the unversed, LED fixtures have a structure similar to traditional lighting fixtures. However, they are specially designed to be compatible with LED light bulbs, while traditional fixtures do not support LEDs.
 

LED fixtures are available in a variety of shapes, sizes, and styles, and can be used both outdoors and indoors, depending on the components. LED fixtures include sconces, ceiling lights, chandeliers, track lighting, recessed lighting, panels, accent lights, and lamps.
 

Despite the positive outlook, high costs of installation of fixtures as well as lighting equipment are likely to impede market growth over the forecast period.
 

Based on application scope, global LED fixtures market is arrayed into commercial, residential, and industrial. Of these, industrial segment is slated to witness lucrative growth over the forecast period, due to increasing demand for LED lights such as troffers and downlights in museums, galleries, and other such applications. Moreover, surging adoption of high brightness LED lights will also drive segmental growth in the upcoming years.
 

On the regional front, North America (U.S., Canada, Mexico), Asia-Pacific (China, India, Japan, Korea, Australia, Taiwan, Indonesia, Thailand), Europe (U.K., Italy, France, Germany, Russia, Spain), South America (Argentina, Brazil, Colombia, Chile, Peru, Venezuela) and Middle East & Africa (Turkey, Iran, Saudi Arabia, Egypt, Israel, Nigeria, UAE) are considered to be major contributors to industry remuneration.
 

Influential players in global LED fixtures market are Signify N.V., Savant Systems Inc., Panasonic Corp., Osram Licht AG, Nichia Corp., Hubbell Lighting C&I, Eaton Corp. plc, and Cree Inc. among others.