Aptos, CA, April 07, 2018 --(PR.com
)-- ElectroniCast Consultants, a leading market research firm, today announced the release of their study results of the worldwide use of light emitting diode-lighting lamps/devices used in Public Transportation Vehicles. The report provides estimated consumption market data for 2017, plus the year-by-year forecast through 2024.
According to the market research study, the worldwide value of selected LED-based lamps/devices on public transportation vehicles reached $1.77 billion in 2017.
The Asia Pacific region (APAC) led in global consumption with 53 percent in relative market share in 2017. The EMEA region (Europe, Middle East and Africa countries) held a 26 percent share of the public transit vehicle LED lamp/device consumption value, last year. The American region (South, Central and North America) region, led by the United States, is forecast to remain in the third-place position throughout the forecast period.
The bus (vehicle) category held the lead in relative market share of global consumption with $598 million in 2017. The (more) mature bus category is forecast to increase at a relatively slower pace versus the light-rail/tram public transportation modes, the rapid transit/metro vehicle types, and the high-speed and commuter vehicle types. The Rapid-transit/Metro vehicle category is forecast to slowly narrow the gap versus the Bus category, over the forecast period. ElectroniCast also includes watercraft (ferries) in this market forecast and analysis.
This market forecast report, which is available immediately, is part of a consultant service from ElectroniCast Consultants to our clients. For detailed information on this or other services provided by ElectroniCast, please contact Theresa Hosking, Marketing/Sales, Telephone/USA: 831-708-2381.
ElectroniCast Consultants – specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.