LED Lighting Market is estimated to be US$ 153.302 billion by 2030 with a CAGR of 11.5% during the forecast period.


LED Lighting Market accounted for US$ 51.54 billion in 2020 and is estimated to be US$ 153.302 billion by 2030 and is anticipated to register a CAGR of 11.5%. Increasing demand for energy-efficient lighting systems, and reduction in prices of LEDs is expected to drive the global LED lighting market. Light emitting diode (LED) is a semiconductor device that emits light when an electric current is passed through it. Further, LEDs can produce different range of colors, which include red, yellow, blue, green, white, purple, bi-color, tri-color and infrared. LEDs are typically used for indoor lighting, outdoor lighting and as a backlight source in LCD display. 

The report "LED Lighting Market, By Product Type (LED Bulbs, LED Fixtures, Bare LED Tubes, LED Down Lights, and Others), By Service Type (Installation Services, Consulting Services, and Maintenance and Support), By End-User (Commercial, Industrial and Residential), By Application (Indoor, Outdoor, Automotive, Backlighting, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’

Key Highlights:

  • In October 2021, Tivoli Lighting introduces Litesphere 2.0 LED strand light for precise lighting control.

  • In October 2021, Precision Lighting and Remote Controlled Lighting, two British lighting manufacturers, announced that Luminii, a Chicago-based manufacturer of industry leading specification-grade architectural LED lighting systems, has acquired the companies.

Analyst View:

Government’s offers, incentives, and rebates on the replacement of traditional lamps with LED lighting is expected to foster the growth of global LED lighting market. In addition, stringent regulatory policies regarding conventional lighting and energy consumption across the U.S., the European Union (EU), China, and Canada are anticipated to favor the product demand over the forecast period. However, COVID-19 pandemic has disrupted the overall market growth.

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Key Market Insights from the report:

Global LED Lighting Market accounted for US$ 51.54 billion in 2020 and is estimated to be US$ 153.302 billion by 2030 and is anticipated to register a CAGR of 11.5%. Global LED Lighting Market is segmented into product type, services type, end user, application, and region.

  • Based on Product Type, Global LED Lighting Market is segmented into LED Bulbs, LED Fixtures, Bare LED Tubes, LED down Lights, and Others.

  • Based on Service type Global LED Lighting Market is segmented into Installation Services, Consulting Services, and Maintenance and Support.  

  • Based on End User, Global LED Lighting Market is segmented into Commercial, Industrial and Residential. 

  • Based on Application, Global LED Lighting Market is segmented into Indoor, Outdoor, Automotive, Backlighting, and Others.

  • By Region, the Global LED Lighting Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

 

Competitive Landscape & their strategies of Global LED Lighting Market:

The key players in the Global LED Lighting Market includes Philips Lighting Holding B.V., General Electric Company, OSRAM Licht AG, Cree, Inc., Cooper Industries, Inc., Virtual Extension, Dialight PLC, Zumtobel Group AG, Samsung Electronics, and Sharp Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning

  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.

  • Detailed analysis of the market revenue over the forecasted period.

  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.

  • Study on the segments that are anticipated to dominate the market.

  • Study on the regional analysis that is expected to register the highest growth over the forecast period

To know more

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