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 News

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global LED Lighting Market size was valued at USD 63.83 billion in 2022 and is poised to grow from USD 70.94 billion in 2023 to USD 168.87 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031). 

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Outdoor LED Lighting Market
Buy Now GET FREE SAMPLE
Smart LED Lighting Market
Buy Now GET FREE SAMPLE
Automotive LED Lighting Market
Buy Now GET FREE SAMPLE
LED Table Lamps Market
Buy Now GET FREE SAMPLE
LED Materials Market
Buy Now GET FREE SAMPLE
Lighting Fixture Market
Buy Now GET FREE SAMPLE
Decorative Lighting Market
Buy Now GET FREE SAMPLE
Outdoor Lighting Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global led lighting market

Report ID: SQMIG45J2152

$5,300
BUY NOW GET FREE SAMPLE