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By 2030, the global LED lighting market is anticipated to reach USD 160 billion, growing at a CAGR of 11% from 2023 to 2030. The market is being driven by a number of important factors, including rising consumer interest in high lumen, low watt products, easy availability in a variety of colour combinations, and rising demand for highly energy-efficient lighting systems with low maintenance costs. LED lamps also have a longer lifespan than conventional lamps.
Essentially a semiconductor light source, a light emitting diode (LED) aids in the conversion of electrical energy into light energy. In many lamps, these components are employed in place of incandescent light sources. In fact, LED lighting is regarded as the lighting technology that saves the most energy and is developing the fastest on the global market. Additionally, compared to older lighting technologies, LED lights have better longeivity, the capacity to function for longer periods of time, and superior lighting quality. Lighting materials for commercial and household usage are frequently made using LED lights.
This study classifies the market for LED lighting into different geographic regions and market categories, anticipates revenue growth, and examines trends in each submarket. The study examines the market for LED Lighting's major growth factors, prospects, and difficulties. The competitive landscape in the market has been depicted by including recent market developments and competitive tactics including growth, product launch and development, partnerships, mergers, and acquisitions. The key market players are strategically identified, profiled, and their core competencies in each of the market's sub-segments are analysed in the study.
Driving Factors
The governments of many nations have begun to fully support investments in energy-efficient lighting technologies through a variety of policies, which has increased the use of LED lights in the commercial, industrial, and residential sectors. In addition, government regulations for energy efficiency, consumer awareness of the environment, and the longevity of LED lights are encouraging the adoption of LED lighting, which has expanded the market for LED lighting globally. One of the main tactics used by manufacturers to include LEDs into exam lights, surgical illumination, endoscopy, and phototherapy in order to advance medical science technology is also one of the key drivers driving the expansion of the worldwide LED lighting market. The expansion of the medical device industry and the replacement of inefficient equipment by more advanced technology will have a favourable effect on the global LED lighting market.
Restraining Factors
Due to the strict regulations and lockdowns put in place by the government following the start of the COVID 19 pandemic, the demand for LED lighting was significantly hampered. However, the second half of 2021 saw a minor improvement in construction as a result of projects being upgraded, which helped the global LED lighting market share steadily recover.
Report Coverage
Global LED Lighting research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global LED Lighting report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and LED Lighting competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key LED Lighting market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global LED Lighting market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, LED Lighting market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Acuity Brands Lighting Inc., Digital Lumens Inc., Cree Lighting, Hubbell, Dialight, LumiGrow, LSI Industries Inc., Siteco GmbH, Panasonic Corporation, Zumtobel Group AG, Signify Holding, Semiconductor Co. Ltd., Eaton Corporation, Helipspectra AB, OSRAM GmbH, General Electric Company, SYSKA LED.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global LED Lighting market based on the below-mentioned segments:
Global LED Lighting Market, By Product
Global LED Lighting market, By Application
Global LED Lighting Market, By Installation
Global LED Lighting market, Regional Analysis
Essentially a semiconductor light source, a light emitting diode (LED) aids in the conversion of electrical energy into light energy. In many lamps, these components are employed in place of incandescent light sources. In fact, LED lighting is regarded as the lighting technology that saves the most energy and is developing the fastest on the global market. Additionally, compared to older lighting technologies, LED lights have better longeivity, the capacity to function for longer periods of time, and superior lighting quality. Lighting materials for commercial and household usage are frequently made using LED lights.
This study classifies the market for LED lighting into different geographic regions and market categories, anticipates revenue growth, and examines trends in each submarket. The study examines the market for LED Lighting's major growth factors, prospects, and difficulties. The competitive landscape in the market has been depicted by including recent market developments and competitive tactics including growth, product launch and development, partnerships, mergers, and acquisitions. The key market players are strategically identified, profiled, and their core competencies in each of the market's sub-segments are analysed in the study.
Driving Factors
The governments of many nations have begun to fully support investments in energy-efficient lighting technologies through a variety of policies, which has increased the use of LED lights in the commercial, industrial, and residential sectors. In addition, government regulations for energy efficiency, consumer awareness of the environment, and the longevity of LED lights are encouraging the adoption of LED lighting, which has expanded the market for LED lighting globally. One of the main tactics used by manufacturers to include LEDs into exam lights, surgical illumination, endoscopy, and phototherapy in order to advance medical science technology is also one of the key drivers driving the expansion of the worldwide LED lighting market. The expansion of the medical device industry and the replacement of inefficient equipment by more advanced technology will have a favourable effect on the global LED lighting market.
Restraining Factors
Due to the strict regulations and lockdowns put in place by the government following the start of the COVID 19 pandemic, the demand for LED lighting was significantly hampered. However, the second half of 2021 saw a minor improvement in construction as a result of projects being upgraded, which helped the global LED lighting market share steadily recover.
Report Coverage
Global LED Lighting research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global LED Lighting report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and LED Lighting competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key LED Lighting market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Acuity Brands Lighting Inc., Digital Lumens Inc., Cree Lighting, Hubbell, Dialight, LumiGrow, LSI Industries Inc., Siteco GmbH, Panasonic Corporation, Zumtobel Group AG, Signify Holding, Semiconductor Co. Ltd., Eaton Corporation, Helipspectra AB, OSRAM GmbH, General Electric Company, SYSKA LED. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of LED Lighting Market from 2021 to 2030.
- Market Forecast for LED Lighting Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, LED Lighting competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on LED Lighting
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global LED Lighting market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, LED Lighting market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Acuity Brands Lighting Inc., Digital Lumens Inc., Cree Lighting, Hubbell, Dialight, LumiGrow, LSI Industries Inc., Siteco GmbH, Panasonic Corporation, Zumtobel Group AG, Signify Holding, Semiconductor Co. Ltd., Eaton Corporation, Helipspectra AB, OSRAM GmbH, General Electric Company, SYSKA LED.
Primary Target Market
- Market Players of LED Lighting
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global LED Lighting market based on the below-mentioned segments:
Global LED Lighting Market, By Product
- Lamps
- Luminaires
Global LED Lighting market, By Application
- Indoor
- Outdoor
Global LED Lighting Market, By Installation
- New
- Retrofit
Global LED Lighting market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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