LED Lighting Market size is projected to reach US$ 128.15 Billion by 2030, according to the report. A light-emitting diode (LED) is a semiconductor light source that directly converts electrical energy into light energy. LED lighting has gained substantial popularity recently due to its energy efficiency, durability, and versatility. It finds extensive applications across residential and commercial settings, outdoor spaces, automotive lighting, and decorative installations. LEDs come in various shapes and sizes, from traditional bulb designs to tube lights, spotlights, and floodlights. This lighting technology is anticipated to lead the global energy efficiency and rapid development market.LED Lighting Market was worth US$ 65.28 Billion in 2023
LEDs consume 75% less power and have a lifespan of 25 times longer than incandescent bulbs, making them highly efficient and cost-effective. Replacing older lighting systems with LED alternatives has proven beneficial, and there is a growing demand for new outdoor LED lighting installations. Due to its advanced features, LED can outpace conventional lighting technologies like compact fluorescent lamps (CFLs) and cold cathode fluorescent lamps (CCFLs). Besides being a cost-effective lighting solution, LEDs find applications in backlighting for large-screen and non-backlight displays (OLEDs). Although the initial cost of LED lighting is relatively high, its longer lifespan significantly lowers overall costs than CFLs. Increased consumer awareness about the advantages of LED lamps' extended life expectancy drives adoption, particularly in products like LED lamps and ceiling lights. Growth in display backlighting, declining LED lamp costs, extended lifespan, and high efficacy drive the global led market's growth.
LED Lighting Market will grow at a CAGR of 10.12% during the forecast period (2023-2030)
Rising construction activities in developing and developed nations and government regulations promoting energy-efficient lighting are primary led lighting market growth. LEDs are known for their long lifespan, absence of flicker, and intense illumination while consuming less energy. Manufacturers also incorporate features like Wi-Fi, occupancy sensors, and day-lighting to attract customers and boost product sales, further fueling market growth.The increasing adoption of LED bulbs and luminaires aligns to achieve net-zero emissions by 2050. A global shift from inefficient incandescent and fluorescent lighting, which posed environmental and health risks, is evident. Climate scientists and governments support LED bulbs to combat escalating electricity consumption, where lighting accounts for 20% and contributes 6% of the world's carbon emissions. Without LEDs, global energy consumption for illumination could surge by 60% by 2030. Currently, more than half of the lights sold worldwide are LEDs, putting the lighting industry on track to meet its net-zero targets by 2030.
Short-to-medium-term market prospects encounter hurdles amid the U.S.-China trade conflict and the ongoing Russia-Ukraine war. Major lighting producers in the U.S. and China are central to global import-export dynamics. Tariffs on around USD 370 Billion Chinese exports to the U.S. have substantially curtailed imports, impacting LED lighting products. The prolonged Russia-Ukraine conflict will also affect global trade, presenting extra challenges to the LED lighting market's revenue growth. The LED lighting market was worth US$ 65.28 Billion in 2023.
Luminaires segment is anticipated to hold a more significant portion of the worldwide LED lighting market
The LED Lighting Market is segmented by Product Type into Lamps and Luminaires. The luminaires segment is positioned to dominate the global LED lighting market, securing the largest share. This segment encompasses various lighting fixtures and solutions, including lamps, institutions, and integrated lighting systems incorporating LED technology. With the growing adoption of energy-efficient and long-lasting LED lighting solutions across residential, commercial, industrial, and outdoor applications, the luminaires segment is expected to thrive. Its versatility, durability, and cost-effectiveness make it the preferred choice for modern lighting needs, reinforcing its pivotal role in shaping the future of the global LED lighting industry.Indoor segment will secure the highest global LED lighting market revenue share
By Application, the LED Lighting Market is divided into Indoor and Outdoor. The indoor segment is forecasted to capture the most substantial global LED lighting market revenue share. This segment encompasses various indoor lighting applications, including residential, commercial, industrial, and institutional settings. LED lighting's efficiency, versatility, and longevity make it an ideal choice for indoor illumination. As businesses and consumers increasingly transition to energy-efficient and environment friendly lighting solutions, the indoor segment is well-positioned to meet these demands and lead the market in revenue generation. Its prominence highlights the integral role of LED lighting in modern indoor environments across various sectors.Commercial sector achieved the largest market share in the LED lighting industry
By End User, LED Lighting Market is split into Commercial, Residential, Industrial and Others. The commercial sector has secured the leading market share within the LED lighting industry. This dominance reflects the widespread adoption of LED lighting solutions in commercial applications such as office spaces, retail establishments, hospitality venues, and industrial facilities. The energy efficiency, cost-effectiveness, and versatility of LED lighting have made it the preferred choice for businesses aiming to reduce operational costs and environmental impact. As the demand for efficient and sustainable lighting continues to grow in the commercial sector, LED lighting remains at the forefront, serving as a pivotal component in modernizing and enhancing commercial lighting environments worldwide.E-commerce has witnessed a surge in sales within the LED lighting industry
The LED Lighting Market is classified into Retail/Warehouse, E-Commerce and Direct Sales by Sales Channel. E-commerce has experienced a notable surge in sales within the LED lighting industry. This growth can be attributed to several factors, including the convenience and accessibility of online shopping platforms, a wide range of online LED lighting products, and the increasing trend towards energy-efficient and sustainable lighting solutions. Consumers and businesses are turning to e-commerce channels to source LED lighting products due to their ease of purchase, competitive pricing, and ability to compare different options quickly. As the online marketplace continues to thrive, it plays a pivotal role in shaping the distribution and accessibility of LED lighting solutions, driving industry growth.China and India regional market growth is expected to grow as Numerous Manufacturers are Launching New Products
By Region, LED Lighting Market is broken into Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands and Turkey), North America (United States, Canada), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, and New Zealand), South America (Brazil, Mexico, and Argentina), Middle East & Africa (South Africa, Saudi Arabia, and UAE) and Rest of World. The regional market is on the verge of substantial growth, primarily propelled by the robust construction sectors in China and India. These two nations are witnessing unprecedented growth in construction activities, driving the demand for various construction materials and technologies, including LED lighting. Moreover, the market is further energized by a considerable influx of manufacturers actively launching new and innovative LED lighting products within these countries. With flourishing construction and a surge in product innovation, this convergence of factors positions the regional market for significant expansion, offering many opportunities and potential for development in the LED lighting industry.Key Player
The key players profiled in the report include Acuity Brands Inc., Koninklijke Philips N.V., Emerson Electric Co, Hubbell Inc., Daktronics Inc., DialightPlc, LSI Industries Inc. and Samsung Electronics Co. Ltd.The “LED Lighting Market Global Forecast by Product Type (Lamps and Luminaires), Application (Indoor, Outdoor), End-Users (Commercial, Residential, Industrial and Others), Sales Channels (Retail/Warehouse, E-Commerce and Direct Sales), Region (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands and Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, and New Zealand), South America (Brazil, Mexico, and Argentina), Middle East & Africa (Saudi Arabia, UAE and South Africa) and Rest of World), Company Analysis (Acuity Brands Inc., Koninklijke Philips N.V., Emerson Electric Co, Hubbell Inc., Daktronics Inc., DialightPlc, LSI Industries Inc. and Samsung Electronics Co. Ltd.)” providing a complete detail of Global LED Lighting Industry.
Product Type has been covered from 2 viewpoints
1. Lamps2. Luminaires
Application has been covered from 2 viewpoints
1. Indoor2. Outdoor
End Use has been covered from 4 viewpoints
1. Commercial2. Residential
3. Industrial
4. Others
Sales Channels has been covered from 3 viewpoints
1. Retail/warehouse2. E-Commerce
3. Direct sales
Country - This report covers the 26 countries LED Lighting Market
1. North America
1.1 United States1.2 Canada
2. Europe
2.1 France2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China3.2 Japan
3.3 India
3.4 Australia
3.5 South Korea
3.6 Thailand
3.7 Malaysia
3.8 Indonesia
3.9 New Zealand
4. Latin America
4.1 Brazil4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia5.2 UAE
5.3 South Africa
6. Rest of the World
Company Insights:
- Overviews
- Recent Development
- Revenues
Company Analysis:
1. Acuity Brands Inc.2. Koninklijke Philips N.V.
3. Emerson Electric Co
4. Hubbell Inc.
5. Daktronics Inc.
6. DialightPlc
7. LSI Industries Inc.
8. Samsung Electronics Co. Ltd
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. LED Lighting Market
4. Market Dynamics
6. Market Share - LED Lighting Market
7. Product Type - LED Lighting Market
8. Application - LED Lighting Market
9. End User - LED Lighting Market
10. Sales Channel - LED Lighting Market
11. Countries - LED Lighting Market
12. Porter’s Five Forces Analysis - LED Lighting Market
13. SWOT Analysis - LED Lighting Market
14. Key Players Analysis
List of Figures
List of Tables
Companies Mentioned
- Acuity Brands Inc.
- Koninklijke Philips N.V.
- Emerson Electric Co
- Hubbell Inc.
- Daktronics Inc.
- DialightPlc
- LSI Industries Inc.
- Samsung Electronics Co. Ltd
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 65.28 Billion |
| Forecasted Market Value ( USD | $ 128.15 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
