Global LED Lighting Market Overview:
According to SPER Market Research, the Global LED Lighting Market is estimated to reach USD 153.52 billion by 2032 with a CAGR of 10.71%.
LEDs are semiconductor light sources that transform electrical energy directly into light energy. As alternatives to incandescent light sources, these components are frequently utilised in lamps. One of the most eco-friendly and quickly evolving lighting technologies on the market is predicted to be LED lighting. Compared to conventional lighting technologies, LED lights work for a longer time, are more durable, and provide greater illumination quality.
Impact of COVID-19 on the Global LED Lighting Market
Global economy was significantly impacted by the coronavirus pandemic, which resulted in travel and labour restrictions, disruptions to the supply chain and manufacturing, and a decline in demand and consumer spending across a wide range of industries. In the residential, commercial, and industrial verticals, it is projected that a dramatic decline in infrastructure installation and development projects will hamper the growth of the LED sector. Construction projects that were delayed had a negative impact on the revenue growth rate of the LED industry. The epidemic did, however, drive up demand for UV LED in the medical industry. Industry participants invested in the study and creation of smart lighting systems as a result of new government initiatives put into place internationally. Consequently, it was anticipated that the LED Lighting Market would expand.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Application, By Product Type, By Installation, By LED Lighting, By Sales Channel, By End User |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Acuity Brands, Cree Inc., Everlight Electronics Co. Ltd., General Electric Company, Hubbell Lighting, Koninklijke Philips N.V., LG Innotek Co. Ltd., Lumens Co. Ltd., Lumileds Holding B.V., Nichia Corporation, Osram Licht AG, Savant Systems, Seoul Semiconductor Co. Ltd., Signify Holding.
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Global LED Lighting Market Segmentation:
By Application: Based on the Application, Global LED Lighting Market is segmented as; Indoor (Commercial, Industrial, Residential, Others), Outdoor (Architectural Buildings, Sports Complexes, Streets and Roads, Tunnels, Others).
By Product Type: Based on the Product Type, Global LED Lighting Market is segmented as; Lamps (A-type, T-type, Others), Luminaries (Decorative, Directional, Downlighting, Others).
By Installation: Based on the Installation, Global LED Lighting Market is segmented as; New, Retrofit.
By LED Lighting: Based on the LED Lighting, Global LED Lighting Market is segmented as; 1600 Lumens, 1100 Lumens, 800 Lumens, 450 Lumens, High-Power LED, Lower-Power LED.
By Sales Channel: Based on the Sales Channel, Global LED Lighting Market is segmented as; Direct Sales, E-Commerce, Retail/Wholesale.
By End User: Based on the End User, Global LED Lighting Market is segmented as; Commercial, Industrial, Residential, Others.
By Region: Due to the enormous demand for these lighting systems in the residential sector of China, South Korea, and India, as well as the region's expanding middle class, Asia-Pacific (APAC) previously dominated the LED lighting market.
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global LED Lighting Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global LED Lighting Market, By Application, 2019-2030 (USD Million)
6.1 Indoor
6.1.1 Commercial
6.1.2 Industrial
6.1.3 Residential
6.1.4 Others
6.2 Outdoor
6.2.1 Architectural Buildings
6.2.2 Sports Complexes
6.2.3 Streets and Roads
6.2.4 Tunnels
6.2.5 Others
7. Global LED Lighting Market, By Product Type, 2019-2030 (USD Million)
7.1 Lamps
7.1.1 A-type
7.1.2 T-type
7.1.3 Others
7.2 Luminaires
7.2.1 Decorative
7.2.2 Directional
7.2.3 Downlighting
7.2.4 Others
8. Global LED Lighting Market, By Installation, 2019-2030 (USD Million)
8.1. New
8.2. Retrofit
9. Global LED Lighting Market, By LED Lighting, 2019-2030 (USD Million)
9.1 1600 Lumens
9.2 1100 Lumens
9.3 800 Lumens
9.4 450 Lumens
9.5 High-Power LED
9.6 Lower-Power LED
10. Global LED Lighting Market, By Sales Channel, 2019-2030 (USD Million)
10.1.1 Direct Sales
10.1.2 E-Commerce
10.1.3 Retail/Wholesale
11. Global LED Lighting Market, By End User, 2019-2030 (USD Million)
11.1.1 Commercial
11.1.2 Industrial
11.1.3 Residential
11.1.4 Others
12. Global LED Lighting Market, By Region, 2019-2030 (USD Million)
12.1 North America
12.1.1 United States
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 Germany
12.2.2 United Kingdom
12.2.3 France
12.2.4 Italy
12.2.5 Spain
12.2.6 Rest of Europe
12.3 Asia-Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 Australia
12.3.5 South Korea
12.3.6 Rest of Asia-Pacific
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Rest of South America
12.5 Middle East & Africa
12.5.1 Kingdom of Saudi Arabia
12.5.2 United Arab Emirates
12.5.3 Rest of Middle East & Africa
13. Company Profiles
13.1 Acuity Brands
13.1.1 Company details
13.1.2 Financial outlook
13.1.3 Product summary
13.1.4 Recent developments
13.2 Cree Inc.
13.2.1 Company details
13.2.2 Financial outlook
13.2.3 Product summary
13.2.4 Recent developments
13.3 Everlight Electronics Co. Ltd.
13.3.1 Company details
13.3.2 Financial outlook
13.3.3 Product summary
13.3.4 Recent developments
13.4 General Electric Company
13.4.1 Company details
13.4.2 Financial outlook
13.4.3 Product summary
13.4.4 Recent developments
13.5 Hubbell Lighting
13.5.1 Company details
13.5.2 Financial outlook
13.5.3 Product summary
13.5.4 Recent developments
13.6 Koninklijke Philips N.V.
13.6.1 Company details
13.6.2 Financial outlook
13.6.3 Product summary
13.6.4 Recent developments
13.7 LG Innotek Co. Ltd.
13.7.1 Company details
13.7.2 Financial outlook
13.7.3 Product summary
13.7.4 Recent developments
13.8 Lumens Co. Ltd.
13.8.1 Company details
13.8.2 Financial outlook
13.8.3 Product summary
13.8.4 Recent developments
13.9 Lumileds Holding B.V.
13.9.1 Company details
13.9.2 Financial outlook
13.9.3 Product summary
13.9.4 Recent developments
13.10 Nichia Corporation
13.10.1 Company details
13.10.2 Financial outlook
13.10.3 Product summary
13.10.4 Recent developments
13.11 Osram Licht AG
13.11.1 Company details
13.11.2 Financial outlook
13.11.3 Product summary
13.11.4 Recent developments
13.12 Savant Systems
13.12.1 Company details
13.12.2 Financial outlook
13.12.3 Product summary
13.12.4 Recent developments
13.13 Seoul Semiconductor Co. Ltd.
13.13.1 Company details
13.13.2 Financial outlook
13.13.3 Product summary
13.13.4 Recent developments
13.14 Signify Holding
13.14.1 Company details
13.14.2 Financial outlook
13.14.3 Product summary
13.14.4 Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
