The global industrial and commercial LED lighting market size reached US$ 48.9 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 127.3 Billion by 2032, exhibiting a growth rate (CAGR) of 11.2% during 2023-2032. The increasing focus on energy efficiency and sustainable lighting solutions, stringent government regulations and policies promoting the adoption of energy-efficient lighting systems, and declining prices of LED lighting products represent some of the key factors driving the market.
Industrial and commercial LED lighting is an innovative lighting solution that is made by combining a diode, a driver, and a heat sink in a durable and energy-efficient package. They consist of several components, including an epoxy case, wire bond, reflectivity cavity, semiconductor diode, and a lead frame with two leads. LED lights have a longer lifespan and are an energy-efficient and cost-effective alternative. In comparison to incandescent and fluorescent lights, LED lights emit less heat and contain no toxic substances like mercury, making them a safer and more eco-friendly option. Currently, there are a wide variety of product variants available, including high bay lights, floodlights, and panel lights, among others. These lights offer flexibility and customization to fit the specific needs of different commercial and industrial applications.
2. What is the expected growth rate of the global industrial and commercial LED lighting market during 2024-2032?
3. What are the key factors driving the global industrial and commercial LED lighting market?
4. What has been the impact of COVID-19 on the global industrial and commercial LED lighting market?
5. What is the breakup of the global industrial and commercial LED lighting market based on the product type?
6. What is the breakup of the global industrial and commercial LED lighting market based on the application?
7. What are the key regions in the global industrial and commercial LED lighting market?
8. Who are the key players/companies in the global industrial and commercial LED lighting market?
Industrial and commercial LED lighting is an innovative lighting solution that is made by combining a diode, a driver, and a heat sink in a durable and energy-efficient package. They consist of several components, including an epoxy case, wire bond, reflectivity cavity, semiconductor diode, and a lead frame with two leads. LED lights have a longer lifespan and are an energy-efficient and cost-effective alternative. In comparison to incandescent and fluorescent lights, LED lights emit less heat and contain no toxic substances like mercury, making them a safer and more eco-friendly option. Currently, there are a wide variety of product variants available, including high bay lights, floodlights, and panel lights, among others. These lights offer flexibility and customization to fit the specific needs of different commercial and industrial applications.
Industrial and Commercial LED Lighting Market Trends:
The increasing focus on energy efficiency and sustainable lighting solutions and stringent government regulations and policies promoting the adoption of energy-efficient lighting systems are some of the primary factors propelling the market growth. Moreover, the declining prices of LED lighting products, coupled with advancements in technology, are acting as another growth-inducing factor. Furthermore, the growing awareness regarding the environmental benefits of LED lighting, such as reduced carbon emissions and lower environmental impact, is favoring the market growth. Moreover, the rising demand for smart lighting solutions, and the rapid urbanization and infrastructural development are creating a positive outlook for the market. Besides this, the escalating adoption of the Internet of Things (IoT) technology in lighting systems and the surging demand for retrofitting conventional lighting systems with LED lights to improve energy efficiency and reduce maintenance costs are fueling the market growth. Apart from this, the expanding automotive and transportation sector, the growing trend of smart cities, and the integration of LED lighting in urban infrastructure projects are driving the market growth. Other factors, such as the shifting focus on enhancing workplace safety and productivity and the advancements in LED technology, such as miniaturization and improved light quality, are providing a significant boost to the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global industrial and commercial LED lighting market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, application, distribution channel and end user.Product Type Insights:
- LED Lamps
- LED Fixtures
Application Insights:
- Indoor Lighting
- Outdoor Lighting
Distribution Channel Insights:
- Direct Sales
- Online Stores
- Specialty Stores
- Others
End User Insights:
- Industrial
- Commercial
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global industrial and commercial LED lighting market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group and Zumtobel Group., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global industrial and commercial LED lighting market in 2023?2. What is the expected growth rate of the global industrial and commercial LED lighting market during 2024-2032?
3. What are the key factors driving the global industrial and commercial LED lighting market?
4. What has been the impact of COVID-19 on the global industrial and commercial LED lighting market?
5. What is the breakup of the global industrial and commercial LED lighting market based on the product type?
6. What is the breakup of the global industrial and commercial LED lighting market based on the application?
7. What are the key regions in the global industrial and commercial LED lighting market?
8. Who are the key players/companies in the global industrial and commercial LED lighting market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Industrial and Commercial LED Lighting Market
6 Market Breakup by Product Type
7 Market Breakup by Application
8 Market Breakup by Distribution Channel
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Acuity Brands lighting Inc.
- ams-OSRAM AG
- Cree Lighting (Ideal Industries Inc.)
- Dialight plc
- Eaton Corporation plc
- Emerson Electric Co. Litetronics International Inc.
- Schneider Electric SE
- Signify N.V.
- Syska Hennessy Group and Zumtobel Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 48.9 Billion |
| Forecasted Market Value ( USD | $ 127.3 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
