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LED Lighting - Global Market Trajectory & Analytics

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    Report

  • 737 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2769236

Global LED Lighting Market to Reach $78.7 Billion by 2027

Amid the COVID-19 crisis, the global market for LED Lighting estimated at US$54.9 Billion in the year 2020, is projected to reach a revised size of US$78.7 Billion by 2027, growing at a CAGR of 5.3% over the period 2020-2027. Lamps, one of the segments analyzed in the report, is projected to record 6% CAGR and reach US$29.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Luminaires segment is readjusted to a revised 4.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $8.9 Billion, While China is Forecast to Grow at 6.6% CAGR

The LED Lighting market in the U.S. is estimated at US$8.9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$14.3 Billion by the year 2027 trailing a CAGR of 6.6% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Select Competitors (Total 190 Featured)

  • Acuity Brands Lighting, Inc.
  • Bajaj Electricals Ltd.
  • Crompton Greaves Ltd.
  • Current, Powered by GE
  • Fagerhult Group
  • Feilo Sylvania
  • Feit Electric Company
  • FW Thorpe Plc
  • Havells India Limited
  • Hubbell Lighting, Inc.
  • LG Corporation
  • NVC Lighting Technology Corporation
  • Opple Lighting Co., Ltd.
  • Osram GmbH
  • Panasonic Corporation
  • Signify Holding BV
  • SCHRÉDER SA
  • Sharp Electronics Corporation
  • Toshiba Lighting & Technology Corporation
  • TRILUX GmbH & Co. KG
  • Ultra LEDs Limited
  • Zumtobel Group AG

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for LED Lighting

What is the estimated value of the Global Market for LED Lighting?

The Global Market for LED Lighting was estimated to be valued at $54.9 Billion in 2020.

What is the growth rate of the Global Market for LED Lighting?

The growth rate of the Global Market for LED Lighting is 5.3%, with an estimated value of $78.7 Billion by 2027.

What is the forecasted size of the Global Market for LED Lighting?

The Global Market for LED Lighting is estimated to be worth $78.7 Billion by 2027.

Who are the key companies in the Global Market for LED Lighting?

Key companies in the Global Market for LED Lighting include Acuity Brands Lighting, Inc., Bajaj Electricals Ltd., Crompton Greaves Ltd., Current, Powered by GE, Fagerhult Group, Feilo Sylvania, Feit Electric Company, FW Thorpe Plc and Hubbell Lighting, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • LED Lighting - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • LED Lighting: An Introduction
  • Market Facts
  • LED and Other Lighting Technologies: A Comparison
  • LED's Longevity and Digital Connectivity to Aid Lighting Industry Achieve Sustainability
  • Key Drivers for LED Lighting Demand
  • Adoption of Energy-Efficient Lighting Options
  • Supportive Policies and Regulations
  • Growing Significance of Energy-Efficient Certifications
  • Non-Residential Buildings: Key Growth Areas for LED Lighting Manufacturers
  • Emphasis on Achieving Energy and Cost Savings amidst Spiraling Electricity Consumption: The Fundamental Growth Driver
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Market Outlook
  • Global General Lighting Market by Type: 2016, 2018 & 2020
  • industrial Commercial LED Lighting Market to Witness Strong Growth
  • Emerging Markets Lead Growth Prospects
  • LED Luminaires: The Leading Segment
  • Leading LED Producing Countries Worldwide
  • China: Largest LED Producer Worldwide
  • Competition
  • LED Lighting Marketplace: Highly Competitive and Fragmented
  • Competitive Landscape in the Global Market for LED Lighting: Leading Companies by Geographic Region
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Smart Intelligent LED Lighting Catalyze Growth Prospects
  • Li-Fi to Emerge as Game Changer
  • Growing Number of Smart Homes Create Significant Demand
  • Smart Home Penetration Rate (%) by Region/Country: 2020
  • Global Smart Home Penetration Rate (%): 2017-2025
  • Global Home Automation Market by Application (in %): 2019
  • Smart Cities Drive Installation of Smart & Connected Lighting Systems
  • Smart Street Lighting
  • LED Chips Offering Higher Lumens per Watt and More Savings Drive Demand in Industrial Applications
  • Rise in Integration of LED Lighting in Industrial Automation
  • LED Components Witnessing Continued Advancements to Result in Increased Growth for LED Lighting Market
  • LED Grows as the Preferred Medium of Lighting in Horticulture
  • Growing Focus on Tourism Drives Demand for Architectural and Landscape Lighting
  • Organic LEDs (OLEDs): The Future Growth Avenue
  • Exceptional Color Rendering of LEDs Spurs Penetration in the Retail Display Segment
  • Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion
  • Focus of SSL Technology Augurs Well for the Market
  • Favorable Demographic Trends Strengthens Market Prospects
  • World Population by Geographic Region (in Millions): 2010-2040
  • Rise in Urbanization Drive Development of Higher Quality, More Efficient, and Longer Lasting LED Solutions
  • World Urban Population in Thousands: 1950-2050
  • Burgeoning Middle Class Population
  • Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Select Product Innovations and Developments
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for LED Lighting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for LED Lighting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for LED Lighting by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Lamps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Lamps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Lamps by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Luminaires by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Luminaires by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Luminaires by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Indoor by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Indoor by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Indoor by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Outdoor by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Outdoor by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Outdoor by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Regulatory Changes Transform the Country's Lighting Landscape
  • Impact of COVID-19 on the Construction Sector Tones Down Nearterm Growth Prospects
  • Construction Industry in the US by Sector (2016-2022): Breakdown of Value (US$ Million) for Residential Buildings, Non-Residential Buildings, and Non-Building Structures
  • Growing Demand for Connected LED Lighting Drive Strong Market Growth
  • Increasing Use of LEDs in Retrofit Applications Benefit Market Expansion
  • Emerging Trends in LED Luminaire Designs Drive Adoption in Indoor Applications
  • LED Industrial Luminaires Grow in Prominence over Conventional Industrial Luminaires
CANADA
JAPAN
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Competitive Landscape
  • Significant Urbanization Levels Spur Demand
  • Urbanization in China in Terms of Percentage Share of Total Population Living in Cities: 2010-2020
EUROPE
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Competition
FRANCE
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
AUSTRALIA
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview
  • Rapid Urbanization and Rising Affluence Drive Demand for Higher Priced and Designer Luminaires
  • Spurt in Residential and Commercial Construction in Tier-2 and Tier-3 Cities Drives Adoption
  • LEDs taking over from HIDs in Street Lighting Space
  • Emergence of Smart LED Lights
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • LED Lighting Witness Soaring Popularity in the Middle East
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • LED Lighting Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 190

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Acuity Brands Lighting, Inc.
  • Bajaj Electricals Ltd.
  • Crompton Greaves Ltd.
  • Current, Powered by GE
  • Fagerhult Group
  • Feilo Sylvania
  • Feit Electric Company
  • FW Thorpe Plc
  • Havells India Limited
  • Hubbell Lighting, Inc.
  • LG Corporation
  • NVC Lighting Technology Corporation
  • Opple Lighting Co., Ltd.
  • Osram GmbH
  • Panasonic Corporation
  • Signify Holding BV
  • SCHRÉDER SA
  • Sharp Electronics Corporation
  • Toshiba Lighting & Technology Corporation
  • TRILUX GmbH & Co. KG
  • Ultra LEDs Limited
  • Zumtobel Group AG