Led Lighting
LED Lighting Market Forecasts to 2030 - Global Analysis By Product Type (Lamps, Bulbs, Track Lighting, Tubes, Panels and Other Product Types), Material, Distribution Channel, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global LED Lighting Market is accounted for $78.9 billion in 2024 and is expected to reach $143.6 billion by 2030 growing at a CAGR of 10.5% during the forecast period. LED lighting is the light-emitting diode technology that produces light by electroluminescence. They are energy-efficient, long-lasting, and offer high brightness with minimal heat output compared to traditional lighting sources. They are used in a variety of applications, from residential and commercial lighting to automotive and electronic displays. Their advantages include lower energy consumption, reduced maintenance costs, and environmental benefits due to lower carbon emissions and absence of harmful substances like mercury.
According to US Department of Energy, the use of energy-efficient lighting technological products such as ENERGY STAR rated residential LEDs tend to use 75% lesser energy and tend to last 25 times longer than incandescent lighting solutions used in the country.
Market Dynamics:
Driver:
Increasing environmental concerns
As sustainability becomes a priority, there is a growing demand for energy-efficient and eco-friendly lighting solutions. LED technology, known for its low energy consumption and longer lifespan compared to traditional lighting, addresses these concerns effectively. Moreover, the shift towards recyclable materials and reduced hazardous substances in LED products aligns with global environmental goals, driving further adoption. This trend reflects a broader commitment to reducing carbon footprints and minimizing environmental impact.
Restraint:
Heat management challenges
Heat management is a significant challenge in the market. LEDs generate heat that can reduce their lifespan and efficiency if not properly managed. Effective heat dissipation is crucial to maintaining performance and reliability. Advanced cooling solutions, such as heat sinks and thermal interface materials, are essential to prevent overheating. The design of LED fixtures must integrate these solutions to ensure optimal thermal management, thereby enhancing longevity and performance while minimizing energy consumption and maintenance costs.
Opportunity:
Government regulations and incentives
Government regulations and incentives in the market include mandates for energy efficiency and environmental standards, promoting the adoption of LEDs over traditional lighting. Programs such as tax credits and grants are offered to encourage the use of energy-efficient technologies. Additionally, regulations often require compliance with performance standards and energy labeling to ensure quality and efficiency. These measures aim to reduce energy consumption and support sustainable development in the lighting industry.
Threat:
Lack of standardization
Variations in quality, performance, and compatibility among different manufacturers create confusion for consumers and hinder market growth. Inconsistent standards can lead to subpar products entering the market, affecting reliability and efficiency. This lack of uniformity complicates the regulatory landscape and creates obstacles for global market integration. Establishing clear, industry-wide standards is crucial for ensuring product quality and fostering consumer trust in LED lighting solutions.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the LED lighting market, causing disruptions in supply chains and delays in production. Lockdowns and restrictions led to reduced demand in commercial sectors, while increased remote working drove a shift towards residential lighting solutions. However, the pandemic accelerated the adoption of energy-efficient technologies, including LEDs, as businesses and consumers sought to lower energy costs and environmental impact.
The track lighting segment is expected to be the largest during the forecast period
The track lighting is expected to be the largest during the forecast period. This lighting solution provides targeted illumination by allowing adjustable light fixtures mounted on a track. Track lighting is favored in residential, commercial, and retail spaces for its ability to highlight specific areas or objects, create dynamic lighting arrangements, and enhance overall ambiance. The growth of track lighting is driven by increasing demand for energy-efficient, customizable, and aesthetically flexible lighting solutions in various applications.
The hospitality segment is expected to have the highest CAGR during the forecast period
The hospitality segment is expected to have the highest CAGR during the forecast period. LEDs enhance the ambiance of hotels, restaurants, and resorts by offering adjustable color temperatures and brightness levels, which can be tailored to create inviting atmospheres and highlight architectural features. Additionally, this lighting contributes to cost savings and longer lifespans, aligning with the industry's focus on sustainability. This trend reflects a broader move towards modern, eco-friendly solutions in the hospitality market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by increasing adoption of energy-efficient lighting solutions. This growth is fueled by rising consumer awareness about energy conservation and government regulations promoting sustainable practices. The commercial and residential sectors are major contributors, with applications ranging from office lighting to home interiors. Innovations in smart lighting and enhanced durability of products are further propelling market expansion in the region.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. Governments across the region are promoting energy-efficient lighting solutions to reduce energy consumption and greenhouse gas emissions, which has led to increased adoption of the technology. Increased disposable income among consumers is leading to higher spending on energy-efficient home and commercial lighting solutions. Increasing awareness about the benefits, including energy savings and reduced maintenance costs, is contributing to market growth.
Key players in the market
Some of the key players in LED Lighting market include Philips Lighting, GE Lighting, Acuity Brands, Inc., Zumtobel Group, Havells India Ltd., Lutron Electronics Co., Inc., Eaton Corporation, Samsung Electronics Co., Ltd., LG Electronics Inc., Cree Lighting, Nichia Corporation, Advanced Lighting Technologies, Inc., Toshiba Corporation, Seoul Semiconductor Co., Ltd., Panasonic Corporation, Sharp Corporation, Foshan Lighting Co., Ltd. and Dialight.
Key Developments:
In July 2023, Zumtobel introduced two intelligent lighting technology systems and three new luminaires in its product portfolio. These cutting-edge solutions include the TRAMAO pendant luminaire for hotels and offices, which effectually absorbs sound and delivers the highest light quality, and the SLOTLIGHT infinity II light line family.
In May 2023, Dialight announced the launch of its industry-leading 7-year warranty for Aviation Obstruction Lighting Solutions. This initiative highlighted the company’s commitment to both customer satisfaction and product quality in the LED lighting market.
Product Types Covered:
• Lamps
• Bulbs
• Track Lighting
• Tubes
• Panels
• Other Product Types
Materials Covered:
• Semiconductors
• Phosphors
• Substrates
• Optics
Distribution Channels Covered:
• E-Commerce
• Specialty Stores
• Hypermarkets
• Distributors
Technologies Covered:
• Organic LEDs (OLEDs)
• Li-Fi Technology
• Dimmable LEDs
• Energy Harvesting LEDs
• Human-Centric Lighting
• Other Technologies
Applications Covered:
• Offices
• Factories
• Warehouses
• Outdoor Lighting
• Roads
• Other Applications
End Users Covered:
• Healthcare
• Hospitality
• Commercial
• Government
• Automotive
• Residential
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global LED Lighting Market, By Product Type
5.1 Introduction
5.2 Lamps
5.3 Bulbs
5.4 Track Lighting
5.5 Tubes
5.6 Panels
5.7 Other Product Types
6 Global LED Lighting Market, By Material
6.1 Introduction
6.2 Semiconductors
6.3 Phosphors
6.4 Substrates
6.5 Optics
7 Global LED Lighting Market, By Distribution Channel
7.1 Introduction
7.2 E-Commerce
7.3 Specialty Stores
7.4 Hypermarkets
7.5 Distributors
8 Global LED Lighting Market, By Technology
8.1 Introduction
8.2 Organic LEDs (OLEDs)
8.3 Li-Fi Technology
8.4 Dimmable LEDs
8.5 Energy Harvesting LEDs
8.6 Human-Centric Lighting
8.7 Other Technologies
9 Global LED Lighting Market, By Application
9.1 Introduction
9.2 Offices
9.3 Factories
9.4 Warehouses
9.5 Outdoor Lighting
9.6 Roads
9.7 Other Applications
10 Global LED Lighting Market, By End User
10.1 Introduction
10.2 Healthcare
10.3 Hospitality
10.4 Commercial
10.5 Government
10.6 Automotive
10.7 Residential
10.8 Industrial
10.9 Other End Users
11 Global LED Lighting Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Philips Lighting
13.2 GE Lighting
13.3 Acuity Brands, Inc.
13.4 Zumtobel Group
13.5 Havells India Ltd.
13.6 Lutron Electronics Co., Inc.
13.7 Eaton Corporation
13.8 Samsung Electronics Co., Ltd.
13.9 LG Electronics Inc.
13.10 Cree Lighting
13.11 Nichia Corporation
13.12 Advanced Lighting Technologies, Inc.
13.13 Toshiba Corporation
13.14 Seoul Semiconductor Co., Ltd.
13.15 Panasonic Corporation
13.16 Sharp Corporation
13.17 Foshan Lighting Co., Ltd.
13.18 Dialight
List of Tables
1 Global LED Lighting Market Outlook, By Region (2022-2030) ($MN)
2 Global LED Lighting Market Outlook, By Product Type (2022-2030) ($MN)
3 Global LED Lighting Market Outlook, By Lamps (2022-2030) ($MN)
4 Global LED Lighting Market Outlook, By Bulbs (2022-2030) ($MN)
5 Global LED Lighting Market Outlook, By Track Lighting (2022-2030) ($MN)
6 Global LED Lighting Market Outlook, By Tubes (2022-2030) ($MN)
7 Global LED Lighting Market Outlook, By Panels (2022-2030) ($MN)
8 Global LED Lighting Market Outlook, By Other Product Types (2022-2030) ($MN)
9 Global LED Lighting Market Outlook, By Material (2022-2030) ($MN)
10 Global LED Lighting Market Outlook, By Semiconductors (2022-2030) ($MN)
11 Global LED Lighting Market Outlook, By Phosphors (2022-2030) ($MN)
12 Global LED Lighting Market Outlook, By Substrates (2022-2030) ($MN)
13 Global LED Lighting Market Outlook, By Optics (2022-2030) ($MN)
14 Global LED Lighting Market Outlook, By Distribution Channel (2022-2030) ($MN)
15 Global LED Lighting Market Outlook, By E-Commerce (2022-2030) ($MN)
16 Global LED Lighting Market Outlook, By Specialty Stores (2022-2030) ($MN)
17 Global LED Lighting Market Outlook, By Hypermarkets (2022-2030) ($MN)
18 Global LED Lighting Market Outlook, By Distributors (2022-2030) ($MN)
19 Global LED Lighting Market Outlook, By Technology (2022-2030) ($MN)
20 Global LED Lighting Market Outlook, By Organic LEDs (OLEDs) (2022-2030) ($MN)
21 Global LED Lighting Market Outlook, By Li-Fi Technology (2022-2030) ($MN)
22 Global LED Lighting Market Outlook, By Dimmable LEDs (2022-2030) ($MN)
23 Global LED Lighting Market Outlook, By Energy Harvesting LEDs (2022-2030) ($MN)
24 Global LED Lighting Market Outlook, By Human-Centric Lighting (2022-2030) ($MN)
25 Global LED Lighting Market Outlook, By Other Technologies (2022-2030) ($MN)
26 Global LED Lighting Market Outlook, By Application (2022-2030) ($MN)
27 Global LED Lighting Market Outlook, By Offices (2022-2030) ($MN)
28 Global LED Lighting Market Outlook, By Factories (2022-2030) ($MN)
29 Global LED Lighting Market Outlook, By Warehouses (2022-2030) ($MN)
30 Global LED Lighting Market Outlook, By Outdoor Lighting (2022-2030) ($MN)
31 Global LED Lighting Market Outlook, By Roads (2022-2030) ($MN)
32 Global LED Lighting Market Outlook, By Other Applications (2022-2030) ($MN)
33 Global LED Lighting Market Outlook, By End User (2022-2030) ($MN)
34 Global LED Lighting Market Outlook, By Healthcare (2022-2030) ($MN)
35 Global LED Lighting Market Outlook, By Hospitality (2022-2030) ($MN)
36 Global LED Lighting Market Outlook, By Commercial (2022-2030) ($MN)
37 Global LED Lighting Market Outlook, By Government (2022-2030) ($MN)
38 Global LED Lighting Market Outlook, By Automotive (2022-2030) ($MN)
39 Global LED Lighting Market Outlook, By Residential (2022-2030) ($MN)
40 Global LED Lighting Market Outlook, By Industrial (2022-2030) ($MN)
41 Global LED Lighting Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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