Global led lighting market

LED Lighting Market Size, Share, Growth Analysis, By Product type (Lamps, Luminaires), By Installation (New, Retrofit), By Sales Channel (Direct Sales, E-commerce), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45J2152 | Region: Global | Published Date: December, 2024
Pages: 165 | Tables: 63 | Figures: 75

LED Lighting Market Regional Insights

Asia Pacific accounted for a revenue share of over 42.8% in 2021 and is anticipated to witness the highest growth in the coming years. The increased demand for LED lighting solutions from major nations like China, India, Japan, Australia, and South Korea is one of the main drivers of the LED lighting market's expansion in Asia Pacific. Similar to this, the expansion of the LED Lighting Market in the region is also fueled by the rising number of construction projects in the residential, commercial, and industrial sectors of developing economies in Asia and the Pacific, especially Southeast Asian nations.

China is anticipated to dominate the Asia Pacific  market due to its quick industrialization, growing infrastructure, and rising standard of life for its people. Additionally, the expansion of the industry is projected to be fueled by rising government spending on public infrastructure and a steady uptick in construction projects for commercial telematics and industrial buildings.

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LED Lighting Market size was valued at USD 70.94 Billion in 2023 and is poised to grow from USD 78.74 Billion in 2024 to USD 187.45 Billion by 2032, growing at a CAGR of 11% during the forecast period (2025-2032).

Favorable business regulations implemented by emerging country governments and supported by new venture capital firms are causing the creation of new competitors with cutting-edge products. Similar to this, prominent players are leaning toward strategically acquiring other companies to gain a significant led lighting market share. For instance, in October 2021, Luminii, a U.S.-based global provider of LED lighting solutions, announced the acquisition of British lighting producers Precision Lighting and Remote Controlled Lighting. The company anticipates that this acquisition would help it improve its commercial presence and grow its clientele. 'Nichia Corporation (Japan) ', 'Osram (Germany) ', 'Everlight Electronics (Taiwan) ', 'Cree Lighting (USA) ', 'Samsung LED (South Korea) ', 'Citizen Electronics (Japan) ', 'Signify (Philips Lighting) (Netherlands) ', 'Dialight (UK) ', 'Zumtobel Group (Austria) ', 'Acuity Brands (USA) ', 'Lite-On Technology (Taiwan) ', 'Syska LED (India) ', 'Havells India Ltd. (India) ', 'LSI Industries (USA) ', 'Leedarson Lighting (China) ', 'Hubbell Lighting (USA) ', 'Intematix (USA) ', 'LEDVANCE (Germany) ', 'Heliospectra (Sweden) '

A light-emitting diode, an electronic driver, a cooling system, and optics make up LED lighting. As opposed to standard high-wattage bulbs, these components are neither brittle nor sealed under high pressure. Maintenance costs are significantly reduced when LED lighting technology is used. Significant energy savings are achieved by using LED lights, which use roughly 50% less electricity than conventional halogen, incandescent, and fluorescent lights. Additionally, LED lighting has low voltage operation, no UV emissions, a long lifespan, design flexibility, and durability. As a result, LED lighting is growing in popularity among businesses and communities since it is more affordable and provides better service.

Due to rising urbanization rates and a growing number of government efforts that promote the use of LED lights, the demand for LED lighting systems is currently predominantly concentrated in Asia Pacific regions. The government's encouragement of investments in energy-efficient lighting technology through various legislation has increased the use of LED lights in a variety of commercial, industrial, and residential settings.

Asia Pacific accounted for a revenue share of over 42.8% in 2021 and is anticipated to witness the highest growth in the coming years. The increased demand for LED lighting solutions from major nations like China, India, Japan, Australia, and South Korea is one of the main drivers of the LED lighting market's expansion in Asia Pacific. Similar to this, the expansion of the LED Lighting Market in the region is also fueled by the rising number of construction projects in the residential, commercial, and industrial sectors of developing economies in Asia and the Pacific, especially Southeast Asian nations.

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Global led lighting market

Report ID: SQMIG45J2152

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