The real estate industries in developed and developing countries experienced rapid growth over the years with the rise in investments by private and public entities to develop advanced infrastructures, including hospitals, shopping complexes, and other commercial buildings. A few of the major ongoing or future commercial construction projects across the region include the proposal for the reconstruction of Hamamatsucho Shibaura in Tokyo, Japan, which entails developing a 550,000 m2 mixed-use complex across the land areas of 4 ha, with two 232.55 m tall structures. Construction began in the Q3 of 2021 and is projected to be completed by the Q4 of 2030. And Development of Elizabeth Quay Lot V and Lot VI Mixed-Use Complex in Perth, Australia. The project entails the building of two mixed-use skyscrapers, a 58-story mixed-use tower, and a 21-story commercial tower, on the site of a 7,000 m2 area. Construction began in Q3 2021 and is projected to be completed by Q4 2025. Lighting plays a crucial role across commercial complexes, thereby bolstering the demand for cost and energy-efficient lighting systems. Thus, the rising demand for lighting in the real estate industry is driving the demand for light control switches, thus boosting the growth of the light control switches market.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific light control switches market at a substantial CAGR during the forecast period.
Asia Pacific Light Control Switches Market Segmentation
The Asia Pacific light control switches market is segmented on the basis of switch solution, connection type, end user, and country. Based on switch solution, the market is segmented into standalone switch solution and integrated switch solution. In 2020, the standalone switch solution segment held a larger market share; however, integrated switch solution is expected to register a higher CAGR during the forecast period. Based on connection type, the Asia Pacific light control switches market is segmented into wired and wireless. In 2020, the wired segment held a larger market share; however, the wireless segment is expected to register a higher CAGR during the forecast period. Based on end user, the market is segmented into commercial, residential, industrial, and public utility. In 2020, the residential segment held the largest market share; however, the commercial segment is expected to register the highest CAGR during the forecast period. Further, based on country, the Asia Pacific light control switches market is segmented into China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2020, China held the largest market share; however, South Korea is expected to grow at the fastest CAGR during the forecast period.
Eaton; Honeywell International Inc.; LEGRAND SA; Leviton Manufacturing Co., Inc.; Lutron Electronics Co., Inc.; OSRAM GmbH; Panasonic Corporation; Schneider Electric SE; and Helvar are among the leading companies in the Asia Pacific light control switches market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,898.05 Million |
| Market Size by 2028 | US$ 8,105.87 Million |
| CAGR (2021 - 2028) | 7.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Switch Solution
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Light Control Switches Market is valued at US$ 4,898.05 Million in 2021, it is projected to reach US$ 8,105.87 Million by 2028.
As per our report Asia Pacific Light Control Switches Market, the market size is valued at US$ 4,898.05 Million in 2021, projecting it to reach US$ 8,105.87 Million by 2028. This translates to a CAGR of approximately 7.5% during the forecast period.
The Asia Pacific Light Control Switches Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Light Control Switches Market report:
The Asia Pacific Light Control Switches Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Light Control Switches Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Light Control Switches Market value chain can benefit from the information contained in a comprehensive market report.
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