LED Lighting Market: Global Industry Analysis And Forecast (2021 to 2029)

LED Lighting Market was valued at US$ 50.91 Bn. in 2021. Global LED Lighting Market size is estimated to grow at a CAGR of 116.11% over the forecast period.

LED Lighting Market Overview:

The report explores the LED Lighting market's segments (Type, Application, End-user and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the LED Lighting market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the LED Lighting market's contemporary competitive scenario. Global LED Lighting Market To know about the Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

LED Lighting Market Dynamics:

The main drivers expected to propel the industry are an increase in construction activities in both developed & emerging nations, as well as strict government regulations to prevent the use of inefficient lighting systems. LED lighting provides high brightness power while using less energy, having a longer lifespan, & not flickering. Additionally, LED producers are concentrating on incorporating features like Wi-Fi, occupancy sensors, & day lighting, which are luring customers &, in turn, driving up product sales. These elements are helping to grow market. When compared to other lighting options like halogen, CFL, and incandescent lights, LED lights are typically a better choice. LEDs are frequently used in both indoor & outdoor settings because of their ability to operate with minimum energy input while producing high illumination. LEDs give designers freedom in their designs and the endurance to resist repeated switching. The market for LED goods is expected to increase as customers become more aware of the advantages of LED lights and convert to green lighting. Several important regulatory organizations that oversee product certification include the International Electro technical Commission, American National Standards Institute, and China Compulsory Certification. Manufactures after getting the necessary licenses to engage in commercial activity, provide services, and import and export goods. The governments of both developed & emerging nations are working to reduce the high energy consumption. To do this, they are enforcing numerous quality laws that help them maintain consumer safety, control energy use, and keep an eye on environmental problems. LED lights are energy-saving options that use less electricity and provide lighting for 50,000 hours. Therefore, it is expected that severe government regulations regarding the usage of lighting that consumes a lot of energy will encourage market growth. Halogen lights were initially used in overhead surgical lighting, which upset medical professionals during operations or examinations. Additionally, the 50 to 100 W halogen bulbs used in the examination room & small surgical lighting caused excessive energy consumption and high heat output. Thus, manufacturers' approach to incorporating LEDs in surgical lighting, exam lights, phototherapy, and endoscopy to improve the patient treatment experience is one factor expected to boost the target market's growth. Rapid technological advancements in the medical devices industry to replace the antiquated or inefficient devices/equipment are also expected to have an impact. The COVID-19 pandemic had a detrimental effect on the world market in 2020. Construction sites were subjected to strict lockdowns and temporary suspensions, which decreased demand for LED lighting. However, the introduction of new as well as revamping projects in the second quarter of 2021 saw an increase in building activities, which aided in the steady recovery of the LED lighting market. In the year 2021, the LED luminaires market sector had the highest market share (55.7%) & maintained its leadership position globally. The lights used in high bays, track lighting, street lighting, troffers, etc. are all LED luminaires. The installation of new streetlights and track lights as a result of growing smart cities initiatives & expanding commercial building is the main factor supporting the segment's growth. Due to the growing usage of LED lamps in the residential sector, the LED lamp segment is predicted to grow at the highest CAGR during the forecast period. In comparison to alternative options like incandescent bulbs and CFLs, LED lamps offer advantages like improved energy efficiency and excellent stability. They are also available in a variety of forms. The government's strategy for increasing LED awareness among consumers to reduce/manage energy usage is another element that is anticipated to boost the target market's expansion. Growing smart cities initiatives & expanding commercial building: Rapid urbanization and positive government initiatives around the world are contributing to the rise in popularity of the idea of smart cities. Therefore, as urbanization increases, nations around the world are investing in smart city initiatives to manage infrastructure and assets. Additionally, the growing investment in environmentally friendly & sustainable technologies has helped smart cities all around the world adopt these technologies. The increased use of electric vehicles has also raised the need for high-tech charging infrastructure in urban areas all over the world. By supplying energy storage and generating new revenue streams from the batteries of electric vehicles, integrating electric vehicles in smart cities may result in such advantages. Furthermore, it is expected that the increasing use of electric vehicles would open the door to green mobility with no carbon emissions. High investment is currently being made in smart security, integrated traffic management systems, smart metering for utilities including water, and smart mobility. The majority of technologically savvy cities employ IoT systems to manage everything from parking and traffic flows to water and air quality and use the resulting smart data to handle longer-term environmental sustainability decisions. The adoption of smart mobility and effective energy management technologies is being driven by the rise in traffic congestion and greenhouse gas emissions.

LED Lighting Market Segment Analysis:

In terms of revenue, the indoor market accounted for more than 68.0 % of the whole market in 2021. This is due to a rise in the demand for effective lighting alternatives to fluorescent and high-intensity discharge bulbs from supermarkets, shopping centres, and retail establishments (HID). Compared to traditional lighting solutions, LED lighting saves more light, produces less heat, and is more affordable. High hospital and educational demand is also anticipated to assist the segment's growth. During the forecast period, the outdoor segment is anticipated to experience moderate expansion. This is due to the expansion of infrastructure-related projects like motorways, airports, and public spaces. Additionally, it is anticipated that rising government initiatives to achieve net-zero emissions by reducing energy use will boost demand for LED lights for outdoor applications. Global LED Lighting Market Commercial LED lighting held a largest share of the market in the year 2021, accounting for more than 52.2 % of global revenue. The need for cutting-edge lighting solutions among owners of museums, exhibitions, and galleries for improved lighting applications is one of the key elements contributing to the commercial building industry's rapid rise across the globe. The demand for high brightness LED lights is rising primarily due to the necessity for workplace lighting to adhere to government norms and regulations, which is boosting the expansion of the market. Global LED Lighting Market

LED Lighting Market Regional Insights:

In the year 2021, Asia Pacific had a revenue share of about 42.8 %, and in the years to come, it is expected to have rapid growth. This can be ascribed to the emerging nations' brisk infrastructure construction operations, which are predicted to enhance demand for LED lighting along with the government's expanding energy-saving programmes. The rising construction sector in China, Japan, & India, as well as the existence of a sizable number of manufacturers operating in these nations with a focus on introducing new products, are factors anticipated to assist the regional market expansion. A major revenue share of the global market was accounted for by the regions of North America & Europe. The government's strict restrictions and energy efficiency measures are to blame for this. According to EU legislation, the minimum efficiency standard for general service lighting was established at 91 lm/W as of September 2021. The European Union began utilizing an A (efficient) to G (inefficient) scale in 2017, and it is hoped that this would enable consumers to make more informed decisions when shopping for energy-efficient electrical products. The objective of the report is to present a comprehensive analysis of the global LED Lighting Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the LED Lighting Market dynamic, and structure by analyzing the market segments and projecting the LED Lighting Market size. Clear representation of competitive analysis of key players by Design, price, financial position, Type portfolio, growth strategies, and regional presence in the LED Lighting Market make the report investor’s guide.

LED Lighting Market Scope: Inquire before buying

Global LED Lighting Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 50.91 Bn.
Forecast Period 2022 to 2029 CAGR: 10.86% Market Size in 2029: US$ 116.11 Bn.
Segments Covered: by Type • LED Lamps • LED Luminaires
by Application • Outdoor Lighting • Indoor Lighting • Residential Lighting • Railway Lighting • Others Lighting
by End-user • Commercial • Residential • Industrial

LED Lighting Market, by Region:

• North America • Europe • Asia Pacific • Middle East and Africa • South America

LED Lighting Market Key Players:

• General Electric Company • Phillips Lighting N.V • Cree Inc • OSRAM Licht AG • Virtual Extension • Eaton Corporation Plc • Zumtobel Group AG • Dialight plc • Samsung Electronics Co. Ltd. • Digital Lumens Incorporations • Toshiba Co • Lighting Science Group • Solid State Lighting Systems • Mitsubishi • Lite-On Technology • Litecontrol • Lowcled • Epistar • Everlight Electronics • GYLED. Frequently Asked Questions: 1. What is the study period of the market? Ans. The Global LED Lighting Market is studied from 2017-2029. 2. What is the growth rate of LED Lighting Market? Ans. The Global LED Lighting Market is growing at a CAGR of 10.86% over forecast period. 3. Which region has largest share in The Global LED Lighting Market? Ans. North America holds the largest share. 4. What is the Global LED Lighting Market segment based on Ownership? Ans. Based on Type, Application, End User. 5. Who are the key players in the Global LED Lighting Market? Ans. The key players in the Global LED Lighting Market are General Electric Company Phillips Lighting N.V, Cree Inc, OSRAM Licht AG, Virtual Extension, Eaton Corporation Plc Zumtobel Group AG, Dialight plc, Samsung Electronics Co. Ltd., Digital Lumens Incorporations Toshiba Co, Lighting Science Group, Solid State Lighting Systems, Mitsubishi, Lite-On Technology, Litecontrol, Lowcled,Epistar, Everlight Electronics, GYLED.
1. Global LED Lighting Size: Research Methodology 2. Global LED Lighting Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global LED Lighting Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global LED Lighting Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global LED Lighting Size Segmentation 4.1. Global LED Lighting Size, by Type (2021-2029) • LED Lamps • LED Luminaires 4.2. Global LED Lighting Size, by Application (2021-2029) • Outdoor Lighting • Indoor Lighting • Residential Lighting • Railway Lighting • Others Lighting 4.3. Global LED Lighting Size, by End-User (2021-2029) • Commercial • Residential • Industrial 5. North America LED Lighting (2021-2029) 5.1. North America LED Lighting Size, by Type (2021-2029) • LED Lamps • LED Luminaires 5.2. North America LED Lighting Size, by Application (2021-2029) • Outdoor Lighting • Indoor Lighting • Residential Lighting • Railway Lighting • Others Lighting 5.3. North America LED Lighting Size, by End-User (2021-2029) • Commercial • Residential • Industrial 5.4. North America LED Lighting, by Country (2021-2029) • United States • Canada • Mexico 6. European LED Lighting (2021-2029) 6.1. European LED Lighting, by Type (2021-2029) 6.2. European LED Lighting, by Application (2021-2029) 6.3. European LED Lighting, by End-user (2021-2029) 6.4. European LED Lighting, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific LED Lighting (2021-2029) 7.1. Asia Pacific LED Lighting, by Type (2021-2029) 7.2. Asia Pacific LED Lighting, by Application (2021-2029) 7.3. Asia Pacific LED Lighting, by End-user (2021-2029) 7.4. Asia Pacific LED Lighting, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa LED Lighting (2021-2029) 8.1. The Middle East and Africa LED Lighting, by Type (2021-2029) 8.2. The Middle East and Africa LED Lighting, by Application (2021-2029) 8.3. The Middle East and Africa LED Lighting, by End-user (2021-2029) 8.4. The Middle East and Africa LED Lighting, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America LED Lighting (2021-2029) 9.1. South America LED Lighting, by Type (2021-2029) 9.2. South America LED Lighting, by Application (2021-2029) 9.3. South America LED Lighting, by End-user (2021-2029) 9.4. South America LED Lighting, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. General Electric Company. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Phillips Lighting N.V 10.3. Cree Inc 10.4. OSRAM Licht AG 10.5. Virtual Extension 10.6. Eaton Corporation Plc 10.7. Zumtobel Group AG 10.8. Dialight plc 10.9. Samsung Electronics Co. Ltd. 10.10. Digital Lumens Incorporations 10.11. Toshiba Co 10.12. Lighting Science Group 10.13. Solid State Lighting Systems 10.14. Mitsubishi 10.15. Lite-On Technology 10.16. Litecontrol 10.17. Lowcled 10.18. Epistar 10.19. Everlight Electronics 10.20. GYLED.

About This Report

Report ID 15214
Category Electronics
Published Date Aug 2022
Updated Date
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