LED String Light Market Size, Share, Growth and Industry Analysis, By Type (Retro Light, Porthole Light, Lantern Light and Others), By Application (Indoor and Outdoor), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Led String Light Market Report Overview

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The global LED string light market size is expected to be USD 1280.2 million in 2022 and is projected to touch USD 4433.71 million by 2031, at a CAGR of 14.8% during the forecast period. 

LED string lights are a unique kind of light used for both indoor and outdoor decorations. They are also frequently referred to as ornamental light sources or fairy lights. Because they were first featured primarily for festive or holiday occasions, particularly Christmas, string lights are also frequently referred to as Christmas lights. The pleasant, multi-shaded light that these LED strings produce is sufficient to appropriately illuminate even huge spaces. if it is placed and operated properly; the intensity (brightness) of the string lights can also be changed.

COVID-19 Impact: Disruption in the Supply Chain were Experienced due to the Spread of the Virus

The global COVID-19 pandemic has been unprecedented and staggering; with the LED string light market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Global demand for led string lights has been significantly affected by the COVID-19 outbreak. Due to the implementation of lockdown measures, important economies like those of India, China, the United States, and European nations have been impacted. As a result, the utilization of these lights was limited, which further decreased light sales. In addition, the market has been affected by the supply chain disruption, notably with regard to electronic components imported from China. Furthermore, intercity and interstate travel limitations implemented by various governments had an adverse effect on the hospitality and travel sectors, which in turn decreased demand for led string lights.

LATEST TRENDS

"Introduction of RGB Technology Merged with LEDs Allows a Wide Spectrum of Colors to be Displayed"

A spectrum of around 4.6 billion colors may now be displayed by LED string lights thanks to the development of RGB LEDs in the modern era. One possibility is the application of RGBW technology, which gives lights the flexibility to display a spectrum of whites from brighter to cooler. When compared to traditional electronic light controls, RGB technology offers much more animation possibilities, including the ability to gradually fade between several colors.

Led String Light Market Segmentation

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• By Type

Based on type, the market is distributed into Retro Light, Porthole Light, Lantern Light and Others

• By Application

Based on application, the market is divided into Indoor and Outdoor.

DRIVING FACTORS

"Advantages Offered by the LEDs make them a Better Choice than Standard Incandescent Bulbs"

Led string lights' greatest asset is that it saves a tremendous amount of energy. The heating of the light filament, which occurs in standard incandescent bulbs, produces light but is a complete waste of energy. LED lighting is incredibly eco-friendly, produces no heat, and is cool to the touch. Because LEDs don't contain UV, lead, or mercury, they are ideal for eco-projects and green business initiatives. Compared to a set of traditional filament Christmas lights, it is predicted that these LEDs will last up to 100,000 hours and consume 90% less energy. For both business clients and household customers, this is a tremendous advantage. Saving money is crucial in today's economic climate, and led lights are critical for achieving cost savings. Saving money is crucial and led string lights are crucial for creating lighting displays that are affordable.

"Lack of Delicate Filament and Colored Semi-Conductors Offer Customers Long-Lasting Endurance and Truer Color of Light "

With the exception of the absence of a filament inside the bulb, which can burn out and render the set useless, LED string lights are quite identical to traditional fairy lights. Led lights' long-lasting endurance is one of their distinctive advantages. They are an intelligent choice for all types of lighting displays since they lack delicate filament and glass components and are temperature and impact-resistant. Initially only available in red, their popularity has increased as more hues were made available. Unlike filament bulbs, that are white with a colored glass tip, LEDs are colored semi-conductors, resulting in a brighter, truer color of light.

RESTRAINING FACTORS

"High Cost of Purchase and Health Issues Associated with Some Colors can Hinder the Market Expansion"

The only real significant drawbacks to these lights are their potential cost. They cost more than conventional bulbs. Purchasing light-emitting diode (LED) bulbs rather than incandescent ones. These lights can also be too intense for some people, which is a problem. In actuality, blue light can give some people headaches or nausea. These factors can hinder the LED string light market growth.

Led String Light Market Regional Insights

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"Expanding Population and Growing Number of Hotels Help in Broadening the Demand for LED Lights "

The market that is anticipated to grow the fastest is Asia Pacific. These decorative lights have a sizable customer base thanks to the expanding population and quick urbanization in developing nations including Bangladesh, India, China, Indonesia, the Philippines, Maldives, Sri Lanka, and China. Among these, the majority of South Asian nations have established themselves as respectable vacation destinations, which has resulted in an increase in the number of tastefully built hotels and eateries. In the end, this will broaden the LED string light market share.

KEY INDUSTRY PLAYERS

"Development of Products Compatible with AI and Investments in R&D by the Players to Appeal to Larger Customer Base"

The LED string light market participants are passionate about developing products that are compatible with artificial intelligence (AI) and smart technology. In addition to this, they are engaged in R&D to lessen the negative effects a few of these lights have on users and to lower the high cost of purchase so they can attract more customers and expand their market. In order to maintain its market dominance, they are also using both organic and inorganic expansion strategies.

List of Market Players Profiled

• MK Illumination (Austria)
• Lights4fun (U.K.)
• TASCO Industries Inc (U.S.)
• BLACHERE ILLUMINATION (France)
• Jiangmen Great Optoelectronics Technology Corp. (China)
• JASCO (Enbrighten) (U.S.)
• Feit Electric (U.S.)
• Balsam Hill (U.S.)
• OSRAM Sylvania Inc. (U.S.)
• NOMA (U.S.)
• Caishui (China)
• Festive Productions (U.K.)
• Crystal Valley (U.S.)

REPORT COVERAGE

This report covers the LED string light market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.