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LED Lighting Market, Share, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis

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    Report

  • 105 Pages
  • January 2022
  • Region: Global
  • Renub Research
  • ID: 5521678
Global LED Lighting Market will reach US$ 97.2 Billion by 2027. The light-emitting diode (LED) is today's large energy-efficient and rapidly-developing lighting technology. LED lighting products deliver light up to 90% more efficiently than incandescent light bulbs. About 95% of the energy in LEDs is transformed into light, and only 5% is extinguished as heat, which leads buyers to opt for a better efficient form of lighting. Likewise, LED offers design flexibility, long lifespan, durability, energy efficiency, low-voltage operation, economic efficiency, zero UV emissions, etc. Its light supplies a lifetime of nearly 50,000 hours of illumination and works virtually by using only a fraction of the power utilized by CFLs and traditional bulbs.



Around the world, the increasing customer demand for reduction in prices of LEDs, energy-efficient lighting systems, and high penetration of LEDs as a lamp source in the LED Lighting Market is to drive the growth of this market. Furthermore, strict regulations to prohibit or limit the use of inefficient lighting technologies and government reimbursement and retrofit schedules to promote the deployment of LED lighting are contributing to the market growth.

Worldwide LED Lighting Market is projected to grow with a CAGR of 11.7% from 2021-2027


LEDs are commonly used in indoor and outdoor lighting based on application. LED lighting solutions particularly rise in indoor application because LED lights generate light with a diode rather than a fuel source, thus costing less to run and requiring less power. LEDs are also increasingly common in walkways, street lights, parking garage lighting, another outdoor area lighting, refrigerated modular lighting, case lighting, and task lighting.

Residential Segment Expected to Witness Significant Growth


The acceptance of LED lighting is escalating in almost all significant end uses such as Residential, Commercial, Industrial, Government, Highway and Roadway, Architectural, and Others. The residential segment has glimpsed high growth in the last few years. Adopting LED A-type lamps like pendants, table lamps, floor lamps, and permanently installed fixtures, such as under recessed sconces and cabinet lights, has grown exponentially due to reduced product prices.

Besides, commercial buildings, including hospitals, offices, stores, restaurants, and schools, are also creating huge demand for LED lighting. Recent advancements in light-emitting diode technology have permitted LED lighting products to infiltrate the commercial lighting market, with tremendous growth potential.

Global LED Lighting Market Size was US$ 49.9 Million in 2021


Geographically, the Asia Pacific witnessed predominant shares from the past decade and will continue at the same rate over the forecast period. Private and public organizations' increasing investments in the industries extensively escalate the market's demand. China and India are the most influential contributors to the market shares in this region. Rising demand for LED lamps in nearly every sector, such as residential, commercial, and industrial areas, is leveraging the market's demand. In contemporary times, North America and Europe have witnessed a boom in demand for LED lighting owing to government approval and the growing use of ultra-modern lighting.

Covid-19 Impact on Global LED Industry


The COVID-19 pandemic has set the world's economy back by many years and has impacted almost every sector. It has hugely affected the LED lighting industry because China, the commencement of this pandemic, is a primary supplier of finished electronic products and raw materials. The entire industrial sector suffers production losses, price fluctuations, and supply disruptions. The LED lighting industry is fragmented due to international players like Acuity Brands Inc., Koninklijke Philips N.V., Emerson Electric (US), Hubbell Incorporated, Daktronics Inc, Samsung Electronics, Panasonic Corp., Toyoda Gosei Co. Ltd.

This latest report “LED Lighting Market Global Forecast by Application (Indoor, Outdoor), End-Users (Residential, Commercial, Industrial, Government, Highway and Roadway, Architectural, and Others), Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), Company Analysis (Acuity Brands Inc., Koninklijke Philips N.V., Emerson Electric (US), Hubbell Incorporated, Daktronics Inc, Samsung Electronics, Panasonic Corp., Toyoda Gosei Co. Ltd.)” providing a complete detail of Global LED Lighting Industry.

Application has been covered from 2 viewpoints


1. Indoor
2. Outdoor

End Use has been covered from 7 viewpoints


1. Residential
2. Commercial
3. Industrial
4. Government
5. Highway and Roadway
6. Architectural
7. Others

Region has been covered from 5 viewpoints


1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

Company Insights:

  • Overviews
  • Recent Developments
  • Revenues

Company Analysis:


1. Acuity Brands Inc.
2. Koninklijke Philips N.V.
3. Emerson Electric (US)
4. Hubbell Incorporated
5. Daktronics Inc
6. Samsung Electronics
7. Panasonic Corp.
8. Toyoda Gosei Co. Ltd.
Frequently Asked Questions about the Global LED Lighting Market

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

The Global LED Lighting Market was estimated to be valued at $49.9 Billion in 2021.

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

The growth rate of the Global LED Lighting Market is 11.7%, with an estimated value of $97.2 Billion by 2027.

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

The Global LED Lighting Market is estimated to be worth $97.2 Billion by 2027.

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

Key companies in the Global LED Lighting Market include Acuity Brands Inc., Koninklijke Philips N.V., Emerson Electric (US), Hubbell Incorporated, Daktronics Inc, Samsung Electronics and Toyoda Gosei Co. Ltd..

Table of Contents

1. Introduction2. Research & Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global LED Lighting Market
6. Market Share - Global LED Lighting Market
6.1 By Application
6.2 By End Use
6.3 By Region
7. Application - Global LED Lighting Market
7.1 Indoor
7.2 Outdoor
8. End Use - Global LED Lighting Market
8.1 Residential
8.2 Commercial
8.3 Industrial
8.4 Government
8.5 Highway and Roadway
8.6 Architectural
8.7 Others
9. Region - Global LED Lighting Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Porters Five Forces
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11. Key Players Analysis
11.1 Acuity Brands, Inc
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Sales Analysis
11.2 Koninklijke Philips N.V.
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Sales Analysis
11.3 Emerson Electric (US)
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Sales Analysis
11.4 Hubbell Incorporated
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Sales Analysis
11.5 Daktronics Inc.
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Sales Analysis
11.6 Samsung Electronics
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Sales Analysis
11.7 Panasonic Corp.
11.7.1 Overview
11.7.2 Recent Development
11.7.3 Sales Analysis
11.8 Toyoda Gosei Co. Ltd.
11.8.1 Overview
11.8.2 Recent Development
11.8.3 Sales Analysis
List of Figures:
Figure-01: Global LED Lighting Market (Million US$), 2016 - 2021
Figure-02: Global - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-03: Application - Indoor Market (Million US$), 2016 - 2021
Figure-04: Application - Forecast for Indoor Market (Million US$), 2022 - 2027
Figure-05: Application - Outdoor Market (Million US$), 2016 - 2021
Figure-06: Application - Forecast for Outdoor Market (Million US$), 2022 - 2027
Figure-07: End User - Residential Market (Million US$), 2016 - 2021
Figure-08: End User - Forecast for Residential Market (Million US$), 2022 - 2027
Figure-09: End User - Commercial Market (Million US$), 2016 - 2021
Figure-10: End User - Forecast for Commercial Market (Million US$), 2022 - 2027
Figure-11: End User - Industrial Market (Million US$), 2016 - 2021
Figure-12: End User - Forecast for Industrial Market (Million US$), 2022 - 2027
Figure-13: End User - Government Market (Million US$), 2016 - 2021
Figure-14: End User - Forecast for Government Market (Million US$), 2022 - 2027
Figure-15: End User - Highway and Roadway Market (Million US$), 2016 - 2021
Figure-16: End User - Forecast for Highway and Roadway Market (Million US$), 2022 - 2027
Figure-17: End User - Architectural Market (Million US$), 2016 - 2021
Figure-18: End User - Forecast for Architectural Market (Million US$), 2022 - 2027
Figure-19: End User - Others Market (Million US$), 2016 - 2021
Figure-20: End User - Forecast for Others Market (Million US$), 2022 - 2027
Figure-21: North America - LED Lighting Market (Million US$), 2016 - 2021
Figure-22: North America - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-23: Europe - LED Lighting Market (Million US$), 2016 - 2021
Figure-24: Europe - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-25: Asia Pacific - LED Lighting Market (Million US$), 2016 - 2021
Figure-26: Asia Pacific - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-27: Latin America - LED Lighting Market (Million US$), 2016 - 2021
Figure-28: Latin America - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-29: Middle East & Africa - LED Lighting Market (Million US$), 2016 - 2021
Figure-30: Middle East & Africa - Forecast for LED Lighting Market (Million US$), 2022 - 2027
Figure-31: Acuity Brands, Inc - Global Revenue (Million US$), 2016 - 2021
Figure-32: Acuity Brands, Inc - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure-33: Koninklijke Philips N.V. - Global Revenue (Million US$), 2016 - 2021
Figure-34: Koninklijke Philips N.V. - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure-35: Emerson Electric (US) - Global Revenue (Million US$), 2016 - 2021
Figure-36: Emerson Electric (US) - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure-37: Hubbell Incorporated - Global Revenue (Million US$), 2016 - 2021
Figure-38: Hubbell Incorporated - Forecast for Global Revenue (Million US$), 2022 - 2027
Figure-39: Daktronics Inc. - Global Revenue (Million US$), 2016 - 2021
Figure-40: Daktronics Inc. - Forecast for Global Revenue (Million US$), 2022 - 2027
List of Tables:
Table-01: Global - LED Lighting Market Share by Application (Percent), 2016 - 2021
Table-02: Global - Forecast for LED Lighting Market Share by Application (Percent), 2022 - 2027
Table-03: Global - LED Lighting Market Share by End-User (Percent), 2016 - 2021
Table-04: Global - Forecast for LED Lighting Market Share by End-User (Percent), 2022 - 2027
Table-05: Global - LED Lighting Market Share by Region (Percent), 2016 - 2021
Table-06: Global - Forecast for LED Lighting Market Share by Region (Percent), 2022 - 2027

Companies Mentioned

  • Acuity Brands Inc.
  • Koninklijke Philips N.V.
  • Emerson Electric (US)
  • Hubbell Incorporated
  • Daktronics Inc
  • Samsung Electronics
  • Panasonic Corp.
  • Toyoda Gosei 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
 

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