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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global LED Lighting Market Outlook
The global LED lighting market attained a value of USD 76.65 billion in 2023. The LED lighting market expected to grow at a CAGR of 9.1% during the forecast period 2024-2032.
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Properties and Applications
The LED lighting market is segmented based on product, application, and end-use.
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Based on the product, the LED lighting market is divided as:
- Lamps
- A-LAMPS
- T-LAMP
- Others
- Luminaire
- Street Light
- Downlight
- Troffers
- High Bay
- Track Lights
- Suspended Pendants
- Others
Based on application, the LED lighting market can be segmented as:
- Indoor
- Outdoor
Based on end-use, the LED lighting market can be divided as:
- Residential
- Commercial
- Industrial
- Government
- Highway and Roadway
- Architectural
The EMR report looks into the regional markets of LED lighting like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
Market Analysis
The lower operating costs and lower heat losses of LED lighting make them an appropriate substitute for incandescent lights. Technological advancements, shifting from standard to green lighting, improved requirements for energy efficiency, and falling prices have also prompted the growth of the demand for LED lighting.
The lack of awareness of new LED lighting solutions facilities and big installation payback periods have resulted in the slow global implementation of LED lighting solutions. This is, however, expected to change in the forecast period.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global LED lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Nichia Corporation
- OSRAM Licht AG
- Samsung Electronics Co Ltd.
- Everlight Electronics Co. Ltd.
- Acuity Brands, Inc.
- Koninklijke Philips N.V.
- Epistar Corp.
- Seoul Semiconductor Co. Ltd.
- CreeLED Inc.
- Lumileds Holding B.V.
- Panasonic Corporation
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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LED Lighting Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global LED lighting market attained a value of nearly USD 76.65 billion.
The market is projected to grow at a CAGR of 9.1% between 2024 and 2032.
The major drivers of the industry, such as improved requirements for energy efficiency, lower operating costs, and lower heat losses, are expected to aid the market growth.
The key market trend guiding the industry growth include the growing technological advancements in the forecast period.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Lamp and luminaire are the leading products in the industry.
Indoor and outdoor are the significant applications of the product in the market.
Residential, commercial, industrial, government, highway and roadway, and architectural, are the major end uses of the product in the industry.
The major players in the industry are Nichia Corporation, OSRAM Licht AG, Samsung Electronics Co Ltd., Everlight Electronics Co. Ltd., Acuity Brands, Inc., Koninklijke Philips N.V., Epistar Corp., Seoul Semiconductor Co. Ltd., Cree, Lumileds Holding B.V., and Panasonic Corporation, among others.
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