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Report Overview
The global lighting industry reached a value of about USD 128.76 billion in 2024. The market is projected to grow at a CAGR of 7.3% in the forecast period of 2025-2034 to reach a value of approximately USD 242.71 billion by 2034.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Lighting Market Trends
LEDs have become the most popular lighting technology as they reduce energy consumption, come with better life expectancy, and are affordable in nature as compared to traditional lighting technologies. Moreover, they do not harm the environment like fluorescent or incandescent lamps.
The lighting market growth is estimated to be higher in the developing regions owing to the increasing awareness and rising access to the product. Due to favourable government policies like the use of LEDs for streetlighting, there has been an increase in the sale of the product. The growing R&D activities to innovate enhanced lighting technologies are expected to propel the market growth in the forecast period.
Lighting Market Report Snapshots
Lighting Market Regional Analysis
*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 market attained a value of nearly USD 128.76 billion.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 242.71 billion by 2032.
The major drivers of the market are the rising disposable incomes, increasing population, rapid urbanisation, and growing infrastructure projects.
The key trends aiding the market expansion include growing health awareness, improving food production capabilities, and growing demand for plant-based and natural products with the rising trend of veganism.
The different lighting products in the market are bulbs, streetlights, downlights, tube lights, and flood lights, among others.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major players are Signify Holding, OSRAM GmbH, Eaton Corporation, Cree Lighting, Nichia Corporation, GE Lighting, Seoul Semiconductor Co., Ltd., Everlight Electronics Co., Ltd., Hubbell Incorporated, Zumtobel Group, Siteco GmbH, Panasonic Holdings Corporation, and Havells India Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124