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LED Lighting Market Trends

  • Report ID: 5269
  • Published Date: Sep 26, 2023
  • Report Format: PDF, PPT

Global LED Lighting Market TOC

  1. An Introduction to the Research Study
  • Preface
  • Market taxonomy
  • Definition of the market and the segments
  • Acronyms and assumptions
  1. The Research Procedure
  • Sources of Data
    • Secondary
    • Primary
  • Calculation and Derivation of Market Size
    • Top-down approach
    • Bottom-up approach
  1. Recommendation by Analyst for C-Level Executives
  2. An Abstract of the Report
  3. Evaluation of Market Fluctuations and Outlook
    • Market Growth Drivers
    • Market Growth Deflation
    • Market Trends
  4. Fundamental Market Prospects
  5. Decarbonization Strategy and Carbon Credit Benefits for Market Players
    • Global Government Decarbonization Plans/Goals by Each Country under 2015 Agreement Agreed by 200 Countries
    • Measures taken by Countries to Reduce Carbon Footprints
    • Carbon Credits and Subsidy Plans/Benefits Rolled out by the Government for Market Players
    • Effective Ways to Harness Carbon-Credits and Impact on Profit Margins
    • Demand Impact on the Companies Opting for Carbon Credits
  6. Regulatory & Standards Landscape
  7. Economic Outlook: Japan
    • Limitations to Japan’s Economic Recovery
    • Uplifting Policies to Foster the Growth of the Economy
    • Future-Outlook and Strategic Move for Sustainable Economy
  8. Technological Shift and Implementation Analysis
  9. Impact of Recession on Global and Japan Economy
  10. Regional Demand Analysis
  11. Industry Value Chain Analysis
  12. Industry Growth Outlook
  13. Recent Technology Outlook in LED Lighting Market
  14. End User Analysis
  15. Pricing Analysis
  16. Start-up Analysis
  17. Porter Five Forces Analysis
  18. PEST Analysis
  19. Global LED Lighting Market Outlook & Projections, Opportunity Assessment, 2022 to 2035
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
        1. Lamps, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • LED Bulb, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • LED Tube Light, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
    1. Luminaries, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Downlighting, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Decorative, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Directional, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Others, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • By Application
    1. Indoor, Market Value (USD Million) and CAGR, 2023-2035F
    2. Outdoor, Market Value (USD Million) and CAGR, 2023-2035F
  • By Sales Channel
    1. Retail/Wholesale, Market Value (USD Million) and CAGR, 2023-2035F
    2. Direct Sales, Market Value (USD Million) and CAGR, 2023-2035F
    3. E-commerce, Market Value (USD Million) and CAGR, 2023-2035F
  • By End-User
    1. Commercial, Market Value (USD Million) and CAGR, 2023-2035F
    2. Household, Market Value (USD Million) and CAGR, 2023-2035F
    3. Industrial, Market Value (USD Million) and CAGR, 2023-2035F
  • By Geography
    1. Market Overview
    2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
      • North America, Market Value (USD million), Volume (Million Units), and CAGR, 2023-2035F
      • Europe, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Asia Pacific Excluding Japan (APEJ), Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Japan, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Latin America, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Middle East and Africa, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  1. Cross Analysis of Product w.r.t. End-User (USD Million), 2022
  2. North America LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
        1. Lamps, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • LED Bulb, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • LED Tube Light, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
    1. Luminaries, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Downlighting, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Decorative, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Directional, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Others, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  • By Application
    1. Indoor, Market Value (USD Million) and CAGR, 2023-2035F
    2. Outdoor, Market Value (USD Million) and CAGR, 2023-2035F
  • By Sales Channel
    1. Retail/Wholesale, Market Value (USD Million) and CAGR, 2023-2035F
    2. Direct Sales, Market Value (USD Million) and CAGR, 2023-2035F
    3. E-commerce, Market Value (USD Million) and CAGR, 2023-2035F
  • By End-User
    1. Commercial, Market Value (USD Million) and CAGR, 2023-2035F
    2. Household, Market Value (USD Million) and CAGR, 2023-2035F
    3. Industrial, Market Value (USD Million) and CAGR, 2023-2035F
  • By Geography
    1. Market Overview
    2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
      • US, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
      • Canada, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  1. Europe LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
  • Market Summary
  • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
  • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
  • Year on Year Growth Forecast (%)
    • By Product
    • By Application
    • By Sales Channel
    • By End-User
    • By Geography
      1. Market Overview
      2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
        • Germany, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • UK, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • Italy, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • France, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • Spain, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • BENELUX, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • Russia, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • Poland, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
        • Rest of Europe, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  1. Asia Pacific Excluding Japan (APEJ) LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
      • By Application
      • By Sales Channel
      • By End-User
      • By Geography
        1. Market Overview
        2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
          • China, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • India, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Indonesia, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • South Korea, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Australia, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Singapore, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Malaysia, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • New Zealand, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Rest of APEJ, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  2. Japan LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
      • By Application
      • By Sales Channel
      • By End-User
  3. Latin America LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
      • By Application
      • By Sales Channel
      • By End-User
      • By Geography
        1. Market Overview
        2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
          • Brazil, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Mexico, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Argentina, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Rest of Latin America, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  4. Middle East and Africa LED Lighting Demand Outlook & Projections, 2022 to 2035: A Comprehensive Study for Stakeholders
    • Market Summary
    • Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
    • Global LED Lighting Market Outlook & Projections, Opportunity Assessment by Segment
    • Year on Year Growth Forecast (%)
      • By Product
      • By Application
      • By Sales Channel
      • By End-User
      • By Geography
        1. Market Overview
        2. Market Revenue by Value (USD Million), Volume (Million Units), and Compound Annual Growth Rate (CAGR)
          • Combined Gulf Countries, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Israel, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • South Africa, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
          • Rest of MEA, Market Value (USD Million), Volume (Million Units), and CAGR, 2023-2035F
  5. Comprehensive Analysis of Leading Players in the Market
    • Acuity Brands, Inc.
    • Cree Lighting
    • Dialight
    • Digital Lumens, Incorporated. 
    • Hubbell
    • LSI Industries Inc.
    • Siteco GmbH
    • Signify Holding
    • Seoul Semiconductor Co., Ltd.
    • Zumtobel Lighting GmbH

Japanese Players

  • Panasonic Corporation
  • Koizumi Lighting Technology Corp.
  • ATEX Co., Ltd.
  • Nichia Corporation

LED Lighting Market Trends

Growth Drivers

  • Growing Adoption of Smart LED Lighting with Integration of Internet of Things (IoT): As both businesses and customers progressively recognize the advantages of intelligent, energy-efficient, and connected lighting solutions, it is anticipated that the trend of smart LED lighting with IoT integration will expand rapidly. Smart lighting that is IoT-enabled may reduce energy expenditures associated with lighting by close to 79%, which is a big step toward sustainability. Hence, the market for LED lighting is expected to grow.
  • Rising Efforts to Save Energy: Light-emitting diode (LED) bulbs have been championed by governments and climate experts as an approach to the world's soaring power usage. Out of which lighting accounts for about 19% and accounts for approximately 5% of all carbon emissions. Without the use of LEDs, the world's energy use for lighting may increase by close to 59% by 2030.
  • Surge in Efficiency in LED Lighting: Over the past few years, LED efficacy, or efficiency, has significantly increased. According to the model (directional, non-directional, or tubular), LEDs that are frequently offered in the home market have an efficacy of over 99 lumens per watt (lm/W). LEDs have surpassed all other economically viable alternatives in efficiency. Advanced LED modules (such as those composed of multiple-chip packages on a printed circuit board), for instance, or ongoing advancements in optics, could be utilized to make further advancements. As LEDs operate on direct current (DC), direct current (DC) grids additionally possess the potential to reduce losses associated with converting alternating current (AC) to DC.

Challenges

  • High Upfront Cost of LED Lighting - Compared to conventional lighting solutions such as incandescent or fluorescent bulbs, LED lighting solutions often have a greater upfront cost. Although LED lights have a longer lifespan and offer long-term cost benefits owing to their energy efficiency, the greater initial cost may prevent some customers from switching. Hence, this factor could restrain market growth.
  • Slow Sustainable Development of LED Lighting
  • Lack of Efficiency Under Heat 

LED Lighting Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

14.0%

Base Year Market Size (2022)

USD 74.16 Billion

Forecast Year Market Size (2035)

USD 374.45 Billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Browse Key Market Insights with Data Illustration:

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5269
  • Published Date: Sep 26, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing adoption of smart LED lighting with integration of internet of things (IoT), rising efforts to save energy, and surge in efficiency in LED lighting.

The market size of LED lighting is anticipated to attain a CAGR of 14.0% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Acuity Brands, Inc., Cree Lighting, Dialight, Digital Lumens, Incorporated, and others.

The commercial segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific excluding Japan region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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