LED Lighting Market Size, Share, Analysis & Forecast | 2031

LED Lighting Market Size, Share, Analysis & Forecast | 2031

Segments - LED Lighting Market by Types (Bulbs, Lamps, Strips, Fixtures, and Others), Applications (Indoors and Outdoors), Distribution Channels (Online and Offline), End-users (Commercial, Residential, Industrial, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-4478 | 4.2 Rating | 74 Reviews | 166 Pages | Format : PDF Excel PPT

Report Description


The global LED lighting market size was valued at around USD 75.82 billion in 2021 and is projected to reach USD 192.68 billion by 2030, expanding at a CAGR of around 14.25% during the forecast period, 2022 – 2030. The growth of the market is attributed to the growing awareness of energy-saving across the globe.

Global LED Lighting Market Outlook

LED is a short form of a light-emitting diode. An LED light refers to an electric device with two electrodes, through which electricity flows in one direction. It is a semiconductor device, which emits visible light as an electrical current pass through it. LED lights come in various sizes and a wide range of colors. LED lights emit light in a singular and specific direction, which reduces the need for reflectors and diffusers to trap light such as in traditional lights. They emit less heat than the traditional lights. LED lights last longer than the other types of lighting. LED lighting is said to aid in saving around USD 18 billion in electricity costs between 2021 and 2030. These lights are said to avoid around 160 million metric tons of carbon dioxide emission per year.

The COVID-19 pandemic situation had a negative impact on the global LED lighting market. The lockdown, travel ban, and suspension of construction sites during the pandemic resulted in a decline in the demand for LED lights. The conflict between Russia and Ukraine is expected to disturb the global LED lighting market. The World Trade Organization (WTO) has estimated a decline in trade volumes, from 4.7% to 3%, in the year 2022 affecting the global LED market negatively.

  • Increasing adoption of LED lighting across the globe is expected to drive the market during the forecast market.
  • Rising awareness regarding the negative effects of carbon emission on the environment among consumers boosts the market.
  • Growing awareness regarding the benefits of LED lights such as durability and energy efficiency is estimated to fuel the market in the coming years.
  • Government regulations and policies regarding conventional lighting and energy consumption spur the market.
  • Increasing prices of electricity in many developing countries drive the LED lighting market.
  • Emergence of alternative technologies is anticipated to hamper the growth of the market during the forecast period.
  • Continuous technological advancements in LED lights offer growth opportunities to the market players.

Scope of the Report

The report on the global LED lighting market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

LED Lighting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Types (Bulbs, Lamps, Strips, Fixtures, and Others), Applications (Indoors and Outdoors), Distribution Channels (Online and Offline), and End-users (Commercial, Residential, Industrial, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

SYSKA; Acuity Brands, Inc.; Heliospectra AB; Eaton Corporation; Dialight PLC; OSRAM GmbH; General Electric; Savant Systems, Inc; Nichia Corporation; OPPLE Lighting Co., Ltd.; Orient Electric Limited; LumiGrow; Siteco GmbH; Seoul Semiconductor Co., Ltd.; Current Lighting Solutions, LLC.; Acuity Brands Lighting, Inc.; Everlight Electronics Co., Ltd.; Lumens Co., Ltd.; Koninklijke Philips N.V.; Lumileds Holding B.V.; and Others

Market Segment Insights

Fixtures segment dominates the market

Based on types, the market is divided into bulbs, lamps, strips, fixtures, and others. The fixtures segment is projected to expand during the forecast period, owing to increasing commercial construction activities and growing installation of streetlights, traffic lights, and others across the globe. The lamps segment is anticipated to expand in the coming years, due to their availability and design choices. The residential sector boosts the expansion of the lamps segment, owing to innovative designs, energy efficiency, and stability that the LED lamps provide.

Global LED Lighting Market Types

Indoor segment expands rapidly

In terms of applications, the market is bifurcated into indoors and outdoors. The indoor segment accounted for around 68% of the global market revenue share in 2021. The segment is expected to hold the key market share during the forecast period, due to increasing demand for LED lighting in malls, supermarkets, and retail stores. Rising demand for Led lights from educational institutes and hospitals aid in the expansion of the segment. The outdoor segment is anticipated to expand during the forecast period, owing to growing infrastructure development projects such as highways, airports, and other public places across the globe.

Offline segment holds a significant market share

On the basis of distribution channels, the market is segregated into online and offline. The offline segment is estimated to register a significant CAGR during the forecast period, as the retailers and wholesalers in the offline segment are the popular choices of distribution channels across the globe. The growing presence of offline distribution channels across the globe, availability of high-quality products, on-site product verifications, product comparisons, and instant product availability are the key factors aiding in the expansion of the offline segment.

Commercial segment holds a key market share

In terms of end-users, the market is divided into commercial, residential, industrial, and others. The commercial segment is estimated to expand rapidly during the forecast period, due to rapid growth in the construction sector and increased demand for advanced LED lighting solutions for other commercial sectors. Regulations and standards of workplace light set by the government aid in the expansion of the commercial segment.

Global LED Lighting Market End users

Asia Pacific dominates the market

Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to register a high CAGR during the forecast period, due to rapid infrastructure developments in the region. Increasing government initiatives regarding energy-saving in countries such as Japan, India, and China and the growing number of major market players in the region are boosting the market in Asia Pacific. The market in North America is anticipated to expand in the coming years, owing to stringent government regulations regarding energy-efficiency requirements.

Global LED Lighting Market Regions

Segments

The global LED lighting market has been segmented on the basis of

Types
  • Bulbs
  • Lamps
  • Strips
  • Fixtures
  • Others
Applications
  • Indoors
  • Outdoors
Distribution Channels
  • Online
  • Offline
End-users
  • Commercial
  • Residential
  • Industrial
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • SYSKA
  • Acuity Brands, Inc.
  • Heliospectra AB
  • Eaton Corporation
  • Dialight PLC
  • OSRAM GmbH
  • General Electric
  • Savant Systems, Inc.
  • Nichia Corporation
  • OPPLE Lighting Co., Ltd.
  • Orient Electric Limited
  • LumiGrow
  • Siteco GmbH
  • Seoul Semiconductor Co., Ltd.
  • Current Lighting Solutions, LLC.
  • Acuity Brands Lighting, Inc.
  • Everlight Electronics Co., Ltd.
  • Lumens Co., Ltd.
  • Koninklijke Philips N.V.
  • Lumileds Holding B.V.
  • Others

Competitive Landscape

The global LED lighting market is highly competitive with the presence of key players such as SYSKA; Acuity Brands, Inc.; Heliospectra AB; Eaton Corporation; Dialight PLC; OSRAM GmbH; General Electric; Savant Systems, Inc; Nichia Corporation; OPPLE Lighting Co., Ltd.; Orient Electric Limited; LumiGrow; Siteco GmbH; Seoul Semiconductor Co., Ltd.; Current Lighting Solutions, LLC.; Acuity Brands Lighting, Inc.; Everlight Electronics Co., Ltd.; Lumens Co., Ltd.; Koninklijke Philips N.V.; Lumileds Holding B.V.; and others. They use business strategies such as collaborations, mergers, partnerships, acquisitions, and product launches to dominate the market. For example, in February 2021, Orient Electric Limited, an India-based multinational electrical equipment manufacturer, launched emergency LED light solutions, which can provide backup lighting for up to four hours in case of any power outage. June 2021, SYSKA, India-based lighting, luminaries, and consumer electronics manufacturer, launched new LED lights under the brand called T5 LED Batten with surged protection. In March 2022, Acuity Brands, Inc., US-based lighting and building management firm, launched Verjure, which is a professional-grade LED lighting solution for indoor horticulture applications.

Global LED Lighting Market Key Players

Frequently Asked Questions

SYSKA; Acuity Brands, Inc.; Heliospectra AB; Eaton Corporation; Dialight PLC; OSRAM GmbH; General Electric; Savant Systems, Inc; Nichia Corporation; OPPLE Lighting Co., Ltd.; Orient Electric Limited; LumiGrow; Siteco GmbH; Seoul Semiconductor Co., Ltd.; and Current Lighting Solutions, LLC. are some of the key players in the global LED lighting market.

Asia Pacific dominates the global LED lighting market.

LED is a short form of a light-emitting diode. An LED light refers to an electric device with two electrodes, through which electricity flows in one direction.

Bulbs, lamps, strips, fixtures, and others are the types of LED lighting.

The global LED lighting market size was valued at around USD 75.82 billion in 2021 and is anticipated to reach around USD 192.68 billion by 2030.

The global LED lighting market is estimated to register a CAGR of around 14.25% during the forecast period.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. LED Lighting Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. LED Lighting Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. LED Lighting Market - Supply Chain
  4.5. Global LED Lighting Market Forecast
     4.5.1. LED Lighting Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. LED Lighting Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. LED Lighting Market Absolute $ Opportunity
5. Global LED Lighting Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. LED Lighting Market Size and Volume Forecast by Types
     5.3.1. Bulbs
     5.3.2. Lamps
     5.3.3. Strips
     5.3.4. Fixtures
     5.3.5. Others
     5.3.6.  
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global LED Lighting Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. LED Lighting Market Size and Volume Forecast by Applications
     6.3.1. Indoors
     6.3.2. Outdoors
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global LED Lighting Market Analysis and Forecast by End Users
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by End Users
     7.2.2. Y-o-Y Growth Projections by End Users
  7.3. LED Lighting Market Size and Volume Forecast by End Users
     7.3.1. Commercial
     7.3.2. Residential
     7.3.3. Industrial
     7.3.4. Others
  7.4. Absolute $ Opportunity Assessment by End Users
  7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global LED Lighting Market Analysis and Forecast by Region
  8.1. Market Trends
  8.2. Introduction
     8.2.1. Basis Point Share (BPS) Analysis by Region
     8.2.2. Y-o-Y Growth Projections by Region
  8.3. LED Lighting Market Size and Volume Forecast by Region
     8.3.1. North America
     8.3.2. Latin America
     8.3.3. Europe
     8.3.4. Asia Pacific
     8.3.5. Middle East and Africa (MEA)
  8.4. Absolute $ Opportunity Assessment by Region
  8.5. Market Attractiveness/Growth Potential Analysis by Region
  8.6. Global LED Lighting Demand Share Forecast, 2019-2026
9. North America LED Lighting Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
  9.2. North America LED Lighting Market Size and Volume Forecast by Country
     9.2.1. U.S.
     9.2.2. Canada
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. North America LED Lighting Market Size and Volume Forecast by Types
     9.4.1. Bulbs
     9.4.2. Lamps
     9.4.3. Strips
     9.4.4. Fixtures
     9.4.5. Others
     9.4.6.  
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. North America LED Lighting Market Size and Volume Forecast by Applications
     9.7.1. Indoors
     9.7.2. Outdoors
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. North America LED Lighting Market Size and Volume Forecast by End Users
     9.10.1. Commercial
     9.10.2. Residential
     9.10.3. Industrial
     9.10.4. Others
  9.11. Basis Point Share (BPS) Analysis by End Users
  9.12. Y-o-Y Growth Projections by End Users
  9.13. Market Attractiveness/Growth Potential Analysis
     9.13.1. By Country
     9.13.2. By Product Type
     9.13.3. By Application
  9.14. North America LED Lighting Demand Share Forecast, 2019-2026
10. Latin America LED Lighting Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Latin America Average Pricing Analysis
  10.2. Latin America LED Lighting Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
  10.4. Latin America LED Lighting Market Size and Volume Forecast by Types
     10.4.1. Bulbs
     10.4.2. Lamps
     10.4.3. Strips
     10.4.4. Fixtures
     10.4.5. Others
     10.4.6.  
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Latin America LED Lighting Market Size and Volume Forecast by Applications
     10.7.1. Indoors
     10.7.2. Outdoors
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Latin America LED Lighting Market Size and Volume Forecast by End Users
     10.10.1. Commercial
     10.10.2. Residential
     10.10.3. Industrial
     10.10.4. Others
  10.11. Basis Point Share (BPS) Analysis by End Users
  10.12. Y-o-Y Growth Projections by End Users
  10.13. Market Attractiveness/Growth Potential Analysis
     10.13.1. By Country
     10.13.2. By Product Type
     10.13.3. By Application
  10.14. Latin America LED Lighting Demand Share Forecast, 2019-2026
11. Europe LED Lighting Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Europe Average Pricing Analysis
  11.2. Europe LED Lighting Market Size and Volume Forecast by Country
     11.2.1. Germany
     11.2.2. France
     11.2.3. Italy
     11.2.4. U.K.
     11.2.5. Spain
     11.2.6. Russia
     11.2.7. Rest of Europe
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Europe LED Lighting Market Size and Volume Forecast by Types
     11.4.1. Bulbs
     11.4.2. Lamps
     11.4.3. Strips
     11.4.4. Fixtures
     11.4.5. Others
     11.4.6.  
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Europe LED Lighting Market Size and Volume Forecast by Applications
     11.7.1. Indoors
     11.7.2. Outdoors
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Europe LED Lighting Market Size and Volume Forecast by End Users
     11.10.1. Commercial
     11.10.2. Residential
     11.10.3. Industrial
     11.10.4. Others
  11.11. Basis Point Share (BPS) Analysis by End Users
  11.12. Y-o-Y Growth Projections by End Users
  11.13. Market Attractiveness/Growth Potential Analysis
     11.13.1. By Country
     11.13.2. By Product Type
     11.13.3. By Application
  11.14. Europe LED Lighting Demand Share Forecast, 2019-2026
12. Asia Pacific LED Lighting Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Asia Pacific Average Pricing Analysis
  12.2. Asia Pacific LED Lighting Market Size and Volume Forecast by Country
     12.2.1. China
     12.2.2. Japan
     12.2.3. South Korea
     12.2.4. India
     12.2.5. Australia
     12.2.6. Rest of Asia Pacific (APAC)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Asia Pacific LED Lighting Market Size and Volume Forecast by Types
     12.4.1. Bulbs
     12.4.2. Lamps
     12.4.3. Strips
     12.4.4. Fixtures
     12.4.5. Others
     12.4.6.  
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Asia Pacific LED Lighting Market Size and Volume Forecast by Applications
     12.7.1. Indoors
     12.7.2. Outdoors
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Asia Pacific LED Lighting Market Size and Volume Forecast by End Users
     12.10.1. Commercial
     12.10.2. Residential
     12.10.3. Industrial
     12.10.4. Others
  12.11. Basis Point Share (BPS) Analysis by End Users
  12.12. Y-o-Y Growth Projections by End Users
  12.13. Market Attractiveness/Growth Potential Analysis
     12.13.1. By Country
     12.13.2. By Product Type
     12.13.3. By Application
  12.14. Asia Pacific LED Lighting Demand Share Forecast, 2019-2026
13. Middle East & Africa LED Lighting Market Analysis and Forecast
  13.1. Introduction
     13.1.1. Basis Point Share (BPS) Analysis by Country
     13.1.2. Y-o-Y Growth Projections by Country
     13.1.3. Middle East & Africa Average Pricing Analysis
  13.2. Middle East & Africa LED Lighting Market Size and Volume Forecast by Country
     13.2.1. Saudi Arabia
     13.2.2. South Africa
     13.2.3. UAE
     13.2.4. Rest of Middle East & Africa (MEA)
  13.3. Absolute $ Opportunity Assessment by Country
  13.4. Middle East & Africa LED Lighting Market Size and Volume Forecast by Types
     13.4.1. Bulbs
     13.4.2. Lamps
     13.4.3. Strips
     13.4.4. Fixtures
     13.4.5. Others
     13.4.6.  
  13.5. Basis Point Share (BPS) Analysis by Types
  13.6. Y-o-Y Growth Projections by Types
  13.7. Middle East & Africa LED Lighting Market Size and Volume Forecast by Applications
     13.7.1. Indoors
     13.7.2. Outdoors
  13.8. Basis Point Share (BPS) Analysis by Applications
  13.9. Y-o-Y Growth Projections by Applications
  13.10. Middle East & Africa LED Lighting Market Size and Volume Forecast by End Users
     13.10.1. Commercial
     13.10.2. Residential
     13.10.3. Industrial
     13.10.4. Others
  13.11. Basis Point Share (BPS) Analysis by End Users
  13.12. Y-o-Y Growth Projections by End Users
  13.13. Market Attractiveness/Growth Potential Analysis
     13.13.1. By Country
     13.13.2. By Product Type
     13.13.3. By Application
  13.14. Middle East & Africa LED Lighting Demand Share Forecast, 2019-2026
14. Competition Landscape
  14.1. Global LED Lighting Market: Market Share Analysis
  14.2. LED Lighting Distributors and Customers
  14.3. LED Lighting Market: Competitive Dashboard
  14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     14.4.1. SYSKA
     14.4.2. Acuity Brands, Inc.
     14.4.3. Heliospectra AB
     14.4.4. Eaton Corporation
     14.4.5. Dialight PLC
     14.4.6. OSRAM GmbH
     14.4.7. General Electric
     14.4.8. Savant Systems, Inc.
     14.4.9. Nichia Corporation
     14.4.10. OPPLE Lighting Co., Ltd.
     14.4.11. Orient Ele

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