Light Emitting Diodes (LEDs) based lights have been changing lighting industry in the past 5-10 years and are responsible for the replacement of halogen lamps and incandescent bulbs. The developing economies across the globe which were lagging behind the developed economies in terms of technological acceptance level are now exporting the LED products to developed countries.
In 2013, Turkey initiated an ambitious project to replace street lights with LEDs in order to decrease the energy consumption by as much as 75% and to contribute towards balancing current deficit of the country. Since then, Turkey’s lighting market has been witnessing a huge shift from traditional light sources to non-conventional LEDs products. Although, the product manufacturing companies still have to rely heavily on imports for LED supply, yet the market is witnessing high growth owing to government support in terms of favorable import policies for LED chips. A similar trend has also been witnessed in other LED product markets as well where LED displays are replacing the traditional displays and LED sign boards are replacing conventional boards, changing ways the marketing is being done.
The study of Turkey LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business.
According to this research, Turkey LEDs market is expected to grow at a CAGR of 15.6% during the forecast period 2016-2022 to reach $344.0 million by 2022. The lighting segment is expected to contribute the largest contribution towards the growth whereas the highest growth is expected from signs & boards segment which is expected to be benefitted by technological development, decreasing LED price and industrial development of Turkish economy.
The Turkish LED market is not only focusing on building the domestic demand for LED markets but also eyeing to cater export markets in the European region in order to fill the void created after the ban of halogen lamps import by the European Union. The LED products manufacturing capabilities in Turkey is constantly improving. Many international players have established their manufacturing set-ups in Turkey in order to reap benefits of growing market opportunities. Some of the prominent players in Turkey LED market are Osram, Philips, General Electric, and Metsan Lighting. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
1.1 Research Methodology
1.2 Market Definition & Coverage
1.2.1 Market Definition
1.2.2 Major Application Areas
1.2.3 Major Application Areas - Sub Segments
2 Executive Summary
3 Market Overview
3.1 Country Trends
3.2 PESTLE Analysis
3.3 Market Drivers
3.4 Market Challenges & Inhibitors
4 Turkey LED Market Analysis
4.1 Momentum Analysis By Applications
4.2 Turkey LED Market Revenues, By Applications
4.3 Turkey LED Market Volume, By Applications
4.4 Turkey LED Market Volume, By Applications (Year-on-Year)
4.5 Turkey LED Market Revenues from Mobile Devices, By Sub-segments
4.6 Turkey LED Market Revenues from Displays, By Sub-segments
4.7 Turkey LED Market Revenues from Lighting, By Sub-segments
4.8 Turkey LED Market Revenues from Signs & Boards, By Sub-segments
4.9 Turkey LED Market Revenues from Other Applications
5 Turkey LED Market Supply Analysis, by Key Players
6 Supplier Profiles
6.2 METSAN LIGHTING
6.4 General Electric
6.5 Atil Aydinlatma
The LEDs market in Turkey is expected to grow at a CAGR of 15.6% during the forecast period 2016-2022 to reach $344.0 million by 2022. The LEDs market is analyzed based major application areas - lighting, displays & backlights, mobile devices, signs & boards, and others. The application area of lighting has further been divided into sub-segments such as indoor lighting and outdoor lighting along with bifurcation into the products of bulbs, street lights and spotlights. LED signs & boards segment is expected to grow with the highest growth rate among application areas for LEDs in the Turkish market.
The study covers and analyzes the “Turkey LEDs” market. Bringing out the complete key insights of the industry. the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.