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Panel Mount Indicator Lamp Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 384 | Report ID: MRS1030


Report Description

The global Panel Mount Indicator Lamp market size is estimated at USD 710.4 million in 2020, expanding at a CAGR of 6.8% from 2021-2027 to reach 928.4 million USD in 2027.

Market Dynamics

Panel Mount Indicator Lamp market is expected to witness substantial growth over the forecast period. Panel mount lamps are growing in demand owing to the factors such as high energy efficiency & cost-effectiveness are projected to boost the market growth. Panel mount lamps are rapidly replacing fluorescent ceiling and LED lights. In addition, these lamps are available in different sizes, designs, and shapes.  Unlike fluorescent lighting fixtures, LED panel mount indicator lamp lights have no-restrike delays and can start instantly, and can be easily installed in fast retrofitting. However, the COVID-19 pandemic has significantly hampered the lamp lenses market with disruption in the supply chain.

Further, these lamp lights are rapidly gaining preference in highly controlled environments owing to their advanced features including disability, remote plug, and play drivers. Additionally, the governments of various nations are also encouraging the use of panel-mounted indicator lamps to conserve energy & promote environmental protection. Moreover, with the developments in LED technology, manufacturers have launched LED panel products in new color variants, which is further contributing to market growth.

The Asia Pacific is anticipated to dominate the global market. The region is also projected to grow at the fastest CAGR over the forecast period. The growing demand for LED indicator lamps, is boosting regional growth. Europe is projected to propel at a significant rate over the forecast period. Further, North America is expected to hold a significant amount of market share.

The Panel Mount Indicator Lamp market is fragmented into type and application segments. Based on type, the single color LED light segment is anticipated to dominate the market. By application, the electronics segment is projected to grow at the highest CAGR during the forecast period.

The Panel Mount Indicator Lamp market is highly competitive in nature with the few international players dominating the global market. Key players in the market engage in strategic activities like mergers & acquisitions, new product launches to strengthen their position in the market.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Panel Mount Indicator Lamp by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Dialight
  • Apem
  • VCC
  • Omron
  • EAO
  • Kingbright
  • BIVAR
  • Lumex
  • Phoenix Contact
  • Amphenol
  • Littelfuse
  • Mallory Sonalert
  • NKK Switches
  • Bulgin

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Single Color LED Light
  • Multicolor LED Light

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Electronics
  • Medical
  • Automotive
  • Industrial
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Panel Mount Indicator Lamp market size is estimated at USD xxx million in 2020, expanding at a CAGR 6.8% from 2021-2027 to reach xxx million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The worldwide market is characterized by the presence of large number of small scale and medium scale players.

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