LED Lighting Market Growth, Trends, Share, Revenue, Size, Challenges and Future Outlook 2033
LED Lighting Market Size- By Application, By Product Type, By Installation, By LED Lighting, By Sales Channel, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2022 | Report ID: IACT2209 | Pages: 1 - 240 | Formats*: |
| Category : Information & Communications Technology | |||
Global LED Lighting Market Overview
According to SPER Market Research, the Global LED Lighting Market is estimated to reach USD 229.19 billion by 2033 with a CAGR of 11.25%.
Energy-efficient lighting technology known as LED (light-emitting diode) lights has become very popular in recent years. In order to create light, LEDs run an electrical current through a semiconductor material, which releases color-specific photons (light particles). Electrical energy is immediately converted into light energy by semiconductor light sources like LEDs. These parts are often used in lamps as alternatives to incandescent light sources. LED lighting is anticipated to be one of the most environmentally friendly and rapidly developing lighting solutions on the market. LED lights outperform traditional lighting technologies in terms of lifespan, durability, and illumination quality.
Exploring the Growth Drivers of the Global LED Lighting Industry.
Recent years have seen a considerable increase in the global LED lighting market, which has been fuelled by a number of important factors, including energy efficiency. Due to their excellent energy efficiency—using up to 75% less energy than conventional incandescent bulbs—LED lights are a popular choice among individuals and companies trying to lower their energy bills and carbon footprint. With an average lifespan of roughly 25,000 hours, LED lights outlast previous lighting technologies, necessitating less frequent maintenance and replacement. A lot of governments have started programs to promote the use of LED lights and other energy-efficient lighting technology. These programs may come in the form of rewards, tax deductions, or rules that demand the use of energy-efficient lighting in specific situations. Overall, as consumers and businesses value energy efficiency and environmental sustainability more and more, the growth drivers of the worldwide LED lighting industry are anticipated to persist in the years to come.
What challenges does the Global LED Lighting Market face?
Despite recent strong expansion in the global LED lighting industry, there are still a number of obstacles the sector must overcome, including high initial costs. Although LED lighting is more energy-efficient and lasts longer than conventional lighting technologies, the upfront cost of LED lighting can be higher, which may discourage some customers and businesses from switching. Despite the fact that LED lighting is becoming more and more popular, there is still a lack of consumer awareness and education about its advantages, which may slow down adoption rates. Concerns concerning the quality of some LED goods, particularly those produced by less recognized businesses, have grown as the market for LED lighting has expanded. Consumer discontent may result from low-quality LED lights having faults with color accuracy, brightness, or lifetime.
In what ways has the COVID-19 pandemic affected Global LED Lighting Market?
The coronavirus pandemic had a substantial influence on the world economy, causing travel and labor restrictions, supply chain and manufacturing disruptions, and a fall in demand and consumer spending across a variety of industries. In the residential, commercial, and industrial verticals, it is projected that a steep decline in infrastructure installation and construction projects will impede the growth of the LED industry. The rate of revenue growth for the LED business was negatively impacted by delays in construction projects. However, the outbreak increased demand for UV LED in the medical sector. Industry participants made investments in the research and development of smart lighting systems as a result of new worldwide government initiatives. It was so anticipated that the global LED Lighting Market would expand.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By Product Type, By Installation, By LED Lighting, By Sales Channel, By End User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Acuity Brands, Cree Inc., Everlight Electronics Co. Ltd., General Electric Company,Hubbell Lighting, Koninklijke Philips N,V, LG Innotek Co. Ltd., Lumens Co. Ltd., Lumileds Holdings B.V., Nichia Corporation , Osram Licht AG, Savant Systems, Seoul Semiconductor Co. Ltd., Signify Holding, Others |
Key Target Audience:
- Architects and Designers
- Commercial Customers
- Distributors and Retailers
- Government Agencies
- Industrial Customers
- Investors
- Residential Customers
Global LED Lighting Market Segmentation:
1. By Application:
- Global LED Lighting Market Value Share and Forecast, By Application, 2023-2033
- Indoor
- Outdoor
2. By Product Type:
- Global LED Lighting Market Value Share and Forecast, By Product Type, 2023-2033
- Lamps
- Luminaires
3. By Installation:
- Global LED Lighting Market Value Share and Forecast, By Installation, 2023-2033
- New
- Retrofit
4. By LED Lighting:
- Global LED Lighting Market Value Share and Forecast, By LED Lighting, 2023-2033
- 1600 Lumens
- 1100 Lumens
- 800 Lumens
- 450 Lumens
- High-Power LED
- Lower-Power LED
5. By Region
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global LED Lighting Market Size (FY’2023-FY’2033)
- Overview of Global LED Lighting Market
- Segmentation of Global LED Lighting Market By Application (Indoor, Outdoor)
- Segmentation of Global LED Lighting Market By Product Type (Lamps, Luminaires)
- Segmentation of Global LED Lighting Market By Installation (New, Retrofit)
- Segmentation of Global LED Lighting Market By LED Lighting (1600 Lumens, 1100 Lumens, 800 Lumens, 450 Lumens, High-Power LED, Lower-Power LED)
- Segmentation of Global LED Lighting Market By Sales Channel (Direct Sales, E-Commerce, Retail/Wholesale)
- Segmentation of Global LED Lighting Market By End-User (Commercial, Industrial, Residential, Others)
- Statistical Snap of Global LED Lighting Market
- Growth Analysis of Global LED Lighting Market
- Problems and Challenges in Global LED Lighting Market
- Competitive Landscape in the Global LED Lighting Market
- Impact of COVID-19 and Demonetization on Global LED Lighting Market
- Details on Recent Investment in Global LED Lighting Market
- Competitive Analysis of Global LED Lighting Market
- Key Players in the Global LED Lighting Market
- SWOT Analysis of Global LED Lighting Market
- Global LED Lighting Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global LED Lighting Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global LED Lighting Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global LED Lighting Market
7. Global LED Lighting Market, By Application (USD Million)
7.1. Global LED Lighting Market Value Share and Forecast, By Application, 2023-20337.2. Indoor7.2.1. Commercial7.2.2. Industrial7.2.3. Residential7.2.4. Others7.3. Outdoor7.3.1. Architectural Buildings7.3.2. Sports Complexes7.3.3. Streets and Roads7.3.4. Tunnels7.3.5. Others
8. Global LED Lighting Market, By Product Type (USD Million)
8.1. Global LED Lighting Market Value Share and Forecast, By Product Type, 2023-20338.2. Lamps8.2.1. A-type8.2.2. T-type8.2.3. Others8.3. Luminaires8.3.1. Decorative8.3.2. Directional8.3.3. Downlighting8.3.4. Others
9. Global LED Lighting Market, By Installation (USD Million)
9.1. Global LED Lighting Market Value Share and Forecast, By Installation, 2023-20339.2. New9.3. Retrofit
10. Global LED Lighting Market, By LED Lighting (USD Million)
10.1. Global LED Lighting Market Value Share and Forecast, By LED Lighting, 2023-203310.2. 1600 Lumens10.3. 1100 Lumens10.4. 800 Lumens10.5. 450 Lumens10.6. High-Power LED10.7. Lower-Power LED
11. Global LED Lighting Market, By Sales Channel (USD Million)
11.1. Global LED Lighting Market Value Share and Forecast, By Sales Channel, 2023-203311.2. Direct Sales11.3. E-Commerce11.4. Retail/Wholesale
12. Global LED Lighting Market, By End User (USD Million)
12.1. Global LED Lighting Market Value Share and Forecast, By End User, 2023-203312.2. Commercial12.3. Industrial12.4. Residential12.5. Others
13. Global LED Lighting Market Forecast, 2019-2033 (USD Million)
13.1. Global LED Lighting Market Size and Market Share
14. Global LED Lighting Market, By Application, 2019-2033 (USD Million)
14.1. Global LED Lighting Market Size and Market Share By Application (2019-2026)14.2. Global LED Lighting Market Size and Market Share By Application (2027-2033)
15. Global LED Lighting Market, By Product Type, 2019-2033 (USD Million)
15.1. Global LED Lighting Market Size and Market Share By Product Type (2019-2026)15.2. Global LED Lighting Market Size and Market Share By Product Type (2027-2033)
16. Global LED Lighting Market, By Installation, 2019-2033 (USD Million)
16.1. Global LED Lighting Market Size and Market Share By Installation (2019-2026)16.2. Global LED Lighting Market Size and Market Share By Installation (2027-2033)
17. Global LED Lighting Market, By LED Lighting, 2019-2033 (USD Million)
17.1. Global LED Lighting Market Size and Market Share By LED Lighting (2019-2026)17.2. Global LED Lighting Market Size and Market Share By LED Lighting (2027-2033)
18. Global LED Lighting Market, By Sales Channel, 2019-2033 (USD Million)
18.1. Global LED Lighting Market Size and Market Share By Sales Channel (2019-2026)18.2. Global LED Lighting Market Size and Market Share By Sales Channel (2027-2033)
19. Global LED Lighting Market, By End User, 2019-2033 (USD Million)
19.1. Global LED Lighting Market Size and Market Share By End User (2019-2026)19.2. Global LED Lighting Market Size and Market Share By End User (2027-2033)
20. Global LED Lighting Market, By Region, 2019-2033 (USD Million)
20.1. Global LED Lighting Market Size and Market Share By Region (2019-2026)20.2. Global LED Lighting Market Size and Market Share By Region (2027-2033)20.3. Asia-Pacific20.3.1. Australia20.3.2. China20.3.3. India20.3.4. Japan20.3.5. South Korea20.3.6. Rest of Asia-Pacific20.4. Europe20.4.1. France20.4.2. Germany20.4.3. Italy20.4.4. Spain20.4.5. United Kingdom20.4.6. Rest of Europe20.5. Middle East and Africa20.5.1. Kingdom of Saudi Arabia20.5.2. United Arab Emirates20.5.3. Rest of Middle East & Africa20.6. North America20.6.1. Canada20.6.2. Mexico20.6.3. United States20.7. Latin America20.7.1. Argentina20.7.2. Brazil20.7.3. Rest of Latin America
21. Company Profile
21.1. Acuity Brands21.1.1. Company details21.1.2. Financial outlook21.1.3. Product summary21.1.4. Recent developments21.2. Cree Inc.21.2.1. Company details21.2.2. Financial outlook21.2.3. Product summary21.2.4. Recent developments21.3. Everlight Electronics Co. Ltd.21.3.1. Company details21.3.2. Financial outlook21.3.3. Product summary21.3.4. Recent developments21.4. General Electric Company21.4.1. Company details21.4.2. Financial outlook21.4.3. Product summary21.4.4. Recent developments21.5. Hubbell Lighting21.5.1. Company details21.5.2. Financial outlook21.5.3. Product summary21.5.4. Recent developments21.6. Koninklijke Philips NV21.6.1. Company details21.6.2. Financial outlook21.6.3. Product summary21.6.4. Recent developments21.7. LG Innotek Co. Ltd.21.7.1. Company details21.7.2. Financial outlook21.7.3. Product summary21.7.4. Recent developments21.8. Lumens Co. Ltd.21.8.1. Company details21.8.2. Financial outlook21.8.3. Product summary21.8.4. Recent developments21.9. Lumileds Holdings B.V.21.9.1. Company details21.9.2. Financial outlook21.9.3. Product summary21.9.4. Recent developments21.10. Nichia Corporation21.10.1. Company details21.10.2. Financial outlook21.10.3. Product summary21.10.4. Recent developments21.11. Osram Licht AG21.11.1. Company details21.11.2. Financial outlook21.11.3. Product summary21.11.4. Recent developments21.12. Savant Systems21.12.1. Company details21.12.2. Financial outlook21.12.3. Product summary21.12.4. Recent developments21.13. Seoul Semiconductor Co. Ltd.21.13.1. Company details21.13.2. Financial outlook21.13.3. Product summary21.13.4. Recent developments21.14. Signify Holding21.14.1. Company details21.14.2. Financial outlook21.14.3. Product summary21.14.4. Recent developments21.15. Others
22. List of Abbreviations
23. Reference Links
24. Conclusion
25. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The key players in the market include Acuity Brands, Cree Inc., Everlight Electronics Co. Ltd., General Electric Company, Hubbell Lighting, Koninklijke Philips N.V., LG Innotek Co. Ltd., Lumens Co. Ltd., Lumileds Holding B.V., Nichia Corporation, Osram Licht AG, Savant Systems, Seoul Semiconductor Co. Ltd., Signify Holding.
These programs may come in the form of rewards, tax deductions, or rules that demand the use of energy-efficient lighting in specific situations.
The LED Lighting Market CAGR of 11.25% during the forecast period.
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The LED Lighting Market is projected to reach USD 229.19 billion by 2033, growing at a CAGR of 11.25% during the forecast period.
The LED Lighting Market grew in market size from 2023. The Market is expected to reach USD 229.19 billion by 2033, at a CAGR of 11.25% during the forecast period.
The LED Lighting Market size is USD 229.19 billion from 2023 to 2033.
LED Lighting Market Segment is Covered By Application, By Product Type, By Installation, By LED Lighting, By Sales Channel, By End User
The Asia-Pacific region is anticipated to have the highest market share in the LED Lighting Market.
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