Global LED Lighting Market is valued approximately at USD 50.2 million in 2020 and is anticipated to grow with a healthy growth rate of more than 11.04% over the forecast period 2021-2027. LED is a diode that emits light. more than 90% other light bulbs, including incandescent and fluorescent light, are classified for LED lighting products. Around 95% of the electricity in LEDs is transformed into light and only 5% is lost as heat. Due to this aspect, the world’s largest population is inclined to use the most effective LED lighting option. The LED lighting market is driven by growing modernization, developing infrastructure such as smart cities and growing need for energy-efficient lighting systems. Intelligent devices are incorporated into households through a climate, buildings and living environment For instance, as per American Society of Mechanical Engineers, wind flow, solar penetration and the shade areas are evaluated by engineers for improved design and construction. By 2022, the Singapore government expects to introduce intelligent, energy efficient lighting on all public highways and build solar panels on 6,000 buildings’ rooftops. Furthermore, LED lighting technologies have successfully penetrated the industrial lighting market, which has tremendous potential for innovation, due to recent advances in light-emitting diode technology. Commercial facilities, which include offices, supermarkets, hotels, hospitals, and schools, account for almost 20% of all energy demand in the United States, with lighting accounting for 38% of that total. However, growth in laser technology, may impede market growth over the forecast period of 2021-2027.
Geographically, APAC is dominating the LED Lighting market and also expected to develop at the highest pace during the forecast period. This growth can be attributed to the respective governments’ initiatives to adopt light-emitting diodes, as well as the involvement of a significant number of market players including China, Indonesia, India, Vietnam, and Malaysia, the region’s fastest-developing countries, which have a booming construction industry due to strong local and migrant populations and evolving lifestyles. As a result, APAC’s rapidly increasing construction sector is also contributing to regional product demand.
Major market player included in this report are:
Digital Lumens Inc.
Cree Lighting (IDEAL INDUSTRIES INC.)
Acuity Brands Lighting Inc.
GE Current (acquired by American Industrial Partners (AIP)
LSI Industries Inc.
Semiconductor Co. Ltd.
Zumtobel Group Ag
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End Use:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global LED Lighting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers