LED Market - Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue

NEW YORK, March 22, 2017 /PRNewswire/ -- This report provides an in-depth analysis on the global LED market Trends and the requirements to start and run an LED manufacturing plant. Light Emitting Diodes, also known as LEDs are electronic components that are designed to convert energy into light. Till recently, the main application of LEDs was for backlighting the LCD screens of mobile handsets, laptops, tablet, computers, televisions, or else for vehicle headlights. The potential of LED technology in most other applications was limited due to its high costs. Heavy investments from a number of companies, however, have been cutting the cost and LEDs are now becoming an affordable technology in the lighting industry.

LED's have significant advantages over incandescent and florescent technologies and as such they are expected to transform the global lighting sector. LED lighting has the potential of consuming up to 90% less electricity than incandescent bulbs and also offer significantly lesser energy consumption than other low-energy technologies such as compact fluorescent light bulbs. Apart from their higher efficiency, LEDs also have a lower cost of ownership, involve a longer operating life and are smaller.

The global demand of LED's will also be driven based upon their advantages over conventional technologies from an environmental perspective.Resource scarcity and climate change are of increasing concern with the lighting industry accounting for a significant share of the global electricity consumption. Usage and the worldwide drive to conserve energy and reduce CO2 emissions is driving the adoption of low energy lighting technologies. This has driven governments across the world to formulate guidelines and regulations to lower the carbon footprint, eliminate hazardous substances and increase energy efficiency. LEDs currently offer sigificant environmental benefits over conventional technologies. Their operating life significantly exceeds that of lights based on other technologies. They also require less frequent maintenance and don't contain any hazardous wastes such as mercury.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/led-market---industry-trends-manufacturing-process-plant-setup-machinery-raw-materials-cost-and-revenue-300428077.html

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