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LED Lighting - Global Market Trajectory & Analytics

  • ID: 2769236
  • Report
  • May 2021
  • Region: Global
  • 737 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Bajaj Electricals Ltd.
  • Fagerhult Group
  • FW Thorpe Plc
  • LG Corporation
  • Panasonic Corporation
  • TRILUX GmbH & Co. KG

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. After an early analysis of the business implications of the pandemic and its induced economic crisis, 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 analysis 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
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Bajaj Electricals Ltd.
  • Fagerhult Group
  • FW Thorpe Plc
  • LG Corporation
  • Panasonic Corporation
  • TRILUX GmbH & Co. KG
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 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
  • Exhibit 1: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Market Outlook
  • Exhibit 2: 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
  • Exhibit 3: Smart Home Penetration Rate (%) by Region/Country: 2020
  • Exhibit 4: Global Smart Home Penetration Rate (%): 2017-2025
  • Exhibit 5: 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
  • Exhibit 6: World Population by Geographic Region (in Millions): 2010-2040
  • Rise in Urbanization Drive Development of Higher Quality, More Efficient, and Longer Lasting LED Solutions
  • Exhibit 7: World Urban Population in Thousands: 1950-2050
  • Burgeoning Middle Class Population
  • Exhibit 8: 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

III. MARKET ANALYSIS

UNITED STATES
  • Market Overview
  • Regulatory Changes Transform the Country’s Lighting Landscape
  • Impact of COVID-19 on the Construction Sector Tones Down Nearterm Growth Prospects
  • Exhibit 9: 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

CHINA
  • Market Overview
  • Competitive Landscape
  • Significant Urbanization Levels Spur Demand
  • Exhibit 10: Urbanization in China in Terms of Percentage Share of Total Population Living in Cities: 2010-2020
EUROPE
  • Market Overview
  • Competition
FRANCE

GERMANY

ITALY

UNITED KINGDOM
  • Market Overview
SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC
  • Market Overview
AUSTRALIA

INDIA
  • 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 KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST
  • LED Lighting Witness Soaring Popularity in the Middle East
IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 190
Note: Product cover images may vary from those shown

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
Note: Product cover images may vary from those shown
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