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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global LED Lighting Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global LED Lighting Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Indoor
7.2.1. Commercial
7.2.2. Industrial
7.2.3. Residential
7.2.4. Others
7.3. Outdoor
7.3.1. Architectural Buildings
7.3.2. Sports Complexes
7.3.3. Streets and Roads
7.3.4. Tunnels
7.3.5. Others
8. Global LED Lighting Market, By Product Type (USD Million)
8.1. Global LED Lighting Market Value Share and Forecast, By Product Type, 2023-2033
8.2. Lamps
8.2.1. A-type
8.2.2. T-type
8.2.3. Others
8.3. Luminaires
8.3.1. Decorative
8.3.2. Directional
8.3.3. Downlighting
8.3.4. Others
9. Global LED Lighting Market, By Installation (USD Million)
9.1. Global LED Lighting Market Value Share and Forecast, By Installation, 2023-2033
9.2. New
9.3. Retrofit
10. Global LED Lighting Market, By LED Lighting (USD Million)
10.1. Global LED Lighting Market Value Share and Forecast, By LED Lighting, 2023-2033
10.2. 1600 Lumens
10.3. 1100 Lumens
10.4. 800 Lumens
10.5. 450 Lumens
10.6. High-Power LED
10.7. 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, 2023-2033
11.2. Direct Sales
11.3. E-Commerce
11.4. 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, 2023-2033
12.2. Commercial
12.3. Industrial
12.4. Residential
12.5. 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-Pacific
20.3.1. Australia
20.3.2. China
20.3.3. India
20.3.4. Japan
20.3.5. South Korea
20.3.6. Rest of Asia-Pacific
20.4. Europe
20.4.1. France
20.4.2. Germany
20.4.3. Italy
20.4.4. Spain
20.4.5. United Kingdom
20.4.6. Rest of Europe
20.5. Middle East and Africa
20.5.1. Kingdom of Saudi Arabia
20.5.2. United Arab Emirates
20.5.3. Rest of Middle East & Africa
20.6. North America
20.6.1. Canada
20.6.2. Mexico
20.6.3. United States
20.7. Latin America
20.7.1. Argentina
20.7.2. Brazil
20.7.3. Rest of Latin America
21. Company Profile
21.1. Acuity Brands
21.1.1. Company details
21.1.2. Financial outlook
21.1.3. Product summary
21.1.4. Recent developments
21.2. Cree Inc.
21.2.1. Company details
21.2.2. Financial outlook
21.2.3. Product summary
21.2.4. Recent developments
21.3. Everlight Electronics Co. Ltd.
21.3.1. Company details
21.3.2. Financial outlook
21.3.3. Product summary
21.3.4. Recent developments
21.4. General Electric Company
21.4.1. Company details
21.4.2. Financial outlook
21.4.3. Product summary
21.4.4. Recent developments
21.5. Hubbell Lighting
21.5.1. Company details
21.5.2. Financial outlook
21.5.3. Product summary
21.5.4. Recent developments
21.6. Koninklijke Philips NV
21.6.1. Company details
21.6.2. Financial outlook
21.6.3. Product summary
21.6.4. Recent developments
21.7. LG Innotek Co. Ltd.
21.7.1. Company details
21.7.2. Financial outlook
21.7.3. Product summary
21.7.4. Recent developments
21.8. Lumens Co. Ltd.
21.8.1. Company details
21.8.2. Financial outlook
21.8.3. Product summary
21.8.4. Recent developments
21.9. Lumileds Holdings B.V.
21.9.1. Company details
21.9.2. Financial outlook
21.9.3. Product summary
21.9.4. Recent developments
21.10. Nichia Corporation
21.10.1. Company details
21.10.2. Financial outlook
21.10.3. Product summary
21.10.4. Recent developments
21.11. Osram Licht AG
21.11.1. Company details
21.11.2. Financial outlook
21.11.3. Product summary
21.11.4. Recent developments
21.12. Savant Systems
21.12.1. Company details
21.12.2. Financial outlook
21.12.3. Product summary
21.12.4. Recent developments
21.13. Seoul Semiconductor Co. Ltd.
21.13.1. Company details
21.13.2. Financial outlook
21.13.3. Product summary
21.13.4. Recent developments
21.14. Signify Holding
21.14.1. Company details
21.14.2. Financial outlook
21.14.3. Product summary
21.14.4. Recent developments
21.15. Others
22. List of Abbreviations
23. Reference Links
24. Conclusion
25. Research Scope