Promotion Factors, Opportunities, Trends and Forecasts of the Turkish LED Market from 2015 to 2020 Report, from 2016 to 2022, the Turkish LED market is expected to grow at a compound annual growth rate of 15.6%, by 2022, the market size will reach $344 million.
The LED market analysis report is based on the main application areas of the products – lighting, display and backlight, mobile devices, signs and billboards, and other products. The lighting field is further divided into indoor lighting and outdoor lighting, and products are divided into bulbs, street lamps and spotlights. In the Turkish market, the LED application market in the field of signs and billboards is expected to have the highest growth rate.
Turkey’s decision to develop intellectual property rights for LED products, using LED lights as a lighting alternative to reduce energy consumption, has greatly promoted the development of Turkey’s LED lighting market. With the government coordinating and increasing the use of LED wicks, other LED products have also begun to grow at a high rate in the country. Due to government investment in outdoor lighting replacement, the penetration rate of LED lighting in Turkey will increase exponentially during the forecast period, replacing traditional halogen and incandescent lamps in rural areas.
The European ban on the use of halogen lamps also provides some opportunities for Turkish manufacturers to export manufacturing and export LED lighting products to Europe, and some Turkish manufacturers, such as AtilAydinlatma, have begun to export LED lighting products to European countries.
Post time: Jul-07-2023