Light Engine Market Size & Share, by Product Type (Lamps, Luminaires); Installation Type (New Installation, Retrofit Installation); End-user (Residential, Industrial, Commercial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

The major factors driving the market growth are the growing demand for energy-efficient lighting systems and the reduction in the price of LED lights around the world.

The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2022 ââ‚Ãâ€Å

Asia Pacific will provide more business opportunities for market growth owing to the increasing construction activities, and growing government initiatives to promote energy-efficiency lighting in the region.

The major players in the market are General Electric Company, Acuity Brands, Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Signify Holding, and others.

The luminaries segment is anticipated to hold largest market size and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.