LED Lighting Market by Product, Installation, Application, Sales Channel, End Use

List of Tables

[187 Pages Report] The LED Lighting Market size was estimated at USD 83.39 billion in 2023 and expected to reach USD 92.44 billion in 2024, at a CAGR 11.13% to reach USD 174.60 billion by 2030.

The LED (light emitting diode) lighting market encompasses developing, manufacturing, and selling energy-efficient, environmentally friendly, and long-lasting light sources. The market is primarily driven by applications in various sectors, including residential, commercial, industrial, outdoor, and automotive lighting. Growing stringent government regulations favoring energy-efficient alternatives, such as LEDs, led to increased adoption rates among consumers and businesses. Moreover, the rising preference for LEDs in SUVs and premium vehicles and demand for LED lighting in outdoor applications is driving the market growth. High initial costs associated with product acquisition and installation often deter potential customers from switching to LED lighting solutions. Discrepancies in product quality due to irregular manufacturing processes can also hinder consumer confidence in LED products. Technological advancements in LED lighting resulting in improved product performance are expected to support growth in the market. Furthermore, growth in infrastructure development coupled with investment in smart city projects presents lucrative opportunities for companies operating within this sector.

KEY MARKET STATISTICS
Base Year [2023]	USD 83.39 billion
Estimated Year [2024]	USD 92.44 billion
Forecast Year [2030]	USD 174.60 billion
CAGR (%)	11.13%

Product: Growing demand for luminaires for superior performance in terms of light quality

Lamps are individual LED light sources that can be easily integrated into existing fixtures or used as replacements for traditional incandescent or CFL bulbs. They are popular among consumers seeking energy-efficient lighting solutions without significant infrastructure changes. A-type LEDs are one of the most common lamps that resemble the traditional incandescent bulb shape. They are omnidirectional light sources used for general-purpose lighting in residential and commercial settings. T-type LEDs, or tube lights, are linear-shaped lamps that replace fluorescent tubes. They offer higher energy savings, improved color rendering index (CRI), and longer life than conventional fluorescent tubes. T-type LEDs are commonly used for task lighting in offices, retail stores, educational institutions, and industrial applications.

Luminaires comprise complete lighting units that house one or more LED light sources and the necessary electrical components such as drivers and heat sinks. These products cater to consumers seeking customized lighting design options for new installations or renovations. Downlights are recessed luminaires designed to project light downward from the ceiling in a focused beam pattern. LED technology has revolutionized street lighting with its higher energy efficiency, longer lifespan, and reduced maintenance costs. Troffers are rectangular luminaires that are typically recessed into the ceiling of commercial and institutional spaces. The primary advantages of troffer lighting include uniform light distribution, minimal glare, energy savings, and flexible design options for customization. In comparative analysis, lamps offer an affordable solution for users seeking an immediate upgrade in energy efficiency without major infrastructural modifications. Luminaires address these concerns by offering completely integrated lighting solutions tailored to specific applications. While they typically have a higher upfront cost than lamps, they deliver superior light quality and uniform performance due to their custom-built design features.

Installation: Growing adoption of new installations for greater design flexibility and seamless integration with modern building systems

New installations are typically preferred in newly constructed buildings or during major renovations, as they allow better integration with modern design elements such as smart home systems and advanced controls. Retrofit LED lighting installations involve replacing traditional light sources with more efficient LED alternatives. This option suits property owners seeking a cost-effective upgrade without major structural alterations.

Both options result in significant energy savings, reduced maintenance expenses, and decreased environmental impact. The decision between new and retrofit installations often depends on individual needs, budget limitations, and project objectives. Regardless of whether one chooses a comprehensive system overhaul or a simpler retrofit upgrade, incorporating LED lighting solutions offers substantial energy savings and improved environmental sustainability across various settings.

Application: Rising use of outdoor LED lighting solutions for functional and aesthetic needs

Indoor LED lighting enhances illumination quality while reducing energy consumption in residential, commercial, and industrial environments. Subcategories include general lighting for ambiance, task lighting for focused activities, accent lighting to highlight features, and horticultural lighting for controlled environments. Outdoor LED lighting solutions address the functional and aesthetic requirements of exterior spaces while promoting safety, sustainability, and security. Major subcategories encompass streetlights for safe transportation, floodlights for large-scale illumination, landscape lighting for enhancing aesthetics, and traffic signals & signage for improved road safety. Compared to conventional HID or HPS lamps, outdoor LEDs offer better visibility with uniform light distribution, increased energy savings (up to 70%), lower maintenance costs due to longer lifespans (50k-100k hours), and reduced environmental impact by eliminating harmful mercury content.

End Use: Significant usage of LED lighting for residential settings as an energy savings option

Commercial spaces, such as offices, retail stores, hotels, and hospitals, demand energy-efficient, cost-effective lighting solutions with versatile designs that blend aesthetics and high-performance illumination. Key features include smart controls, color-tuning capabilities, and long-lasting products to reduce maintenance expenses. Industrial facilities prioritize durability due to harsh conditions such as high temperatures and humidity. They seek robust LED lighting with ingress protection ratings for dust/water resistance and high lumen output for enhanced visibility in warehouses or manufacturing plants. Design aesthetics take a backseat compared to functionality. Residential LED lighting focuses on comfort and ambiance while ensuring energy savings. Homeowners desire products with varying color temperatures and dimming capabilities compatible with smart home systems that offer design aesthetics balanced alongside performance components. All three segments require energy-efficient LED lighting solutions; however, their priorities vary concerning functionality and design - commercial settings emphasize aesthetics and intelligent controls, industrial facilities stress robustness and high-lumen output, while residential environments strike a balance between design preferences, energy savings, and smart home integration.

Regional Insights

The Americas region has been an early adopter of LED technology, driven by stringent government regulations and consumer awareness about energy efficiency. The United States is the largest market for LED lighting in this region due to supportive federal policies such as the Department of Energy's Energy Star program, which encourages consumers to opt for more energy-efficient products. In Latin America, key markets such as Brazil and Argentina are witnessing a transition towards LEDs due to increasing electricity prices and growing environmental concerns. Europe leads this growth with the European Union implementing strict regulations such as the ErP Directive 2009/125/EC that mandates energy-efficient product designs, including requirements for 'phase-out' of incandescent bulbs. Middle East and Africa markets are witnessing an upsurge in demand for energy-efficient solutions due to rapid urbanization, causing strain on power infrastructure & a growing focus on sustainability practices. The APAC region is witnessing significant growth in the LED lighting market owing to rapid urbanization and increasing demand for energy-efficient solutions. Additionally, the growing smart city initiatives across the region drive demand for connected LED lighting systems that enable improved energy management.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the LED Lighting Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the LED Lighting Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the LED Lighting Market, highlighting leading vendors and their innovative profiles. These include Acuity Brands, Inc., ams-OSRAM International GmbH, Apollo Lighting Ltd., Bridgelux, Inc., Dialight PLC by Roxboro Group PLC, Digital Lumens, Inc., Eaton Corporation PLC, Everlight Americas, Inc., Feit Electric, Havells India Limited, Ledure Lightings Limited, LSI Industries Inc., Nichia Corporation, Olympia Lighting, Panasonic Corporation, Polycab India Limited, ROHM Co, Ltd., Samsung Electronics Co., Ltd., Savant Systems, Inc., Seoul Semiconductor Co., Ltd., Signify Holding, Siteco GmbH, Syska Led Lights Pvt Ltd, Technical Consumer Products, Inc., US LED, Ltd., Wipro Limited, and Zumtobel Lighting GmbH.

Market Segmentation & Coverage

This research report categorizes the LED Lighting Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Lamps
  - A-type
  - T-Type

Luminaires
- Downlights
- Streetlights
- Troffers

Installation
- New
- Retrofit

Application
- Indoor
- Outdoor

Sales Channel
- Offline
- Online

End Use
- Commercial
- Industrial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the LED Lighting Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the LED Lighting Market?

3. What are the technology trends and regulatory frameworks in the LED Lighting Market?

4. What is the market share of the leading vendors in the LED Lighting Market?

5. Which modes and strategic moves are suitable for entering the LED Lighting Market?

Product Code: MRR-8C74ADFC044D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing stringent government regulations in favor of energy-efficient alternatives
  - 5.1.1.2. Rising preference of LEDs in SUVs and premium vehicles
  - 5.1.1.3. Increasing demand for LED lighting in outdoor applications
- 5.1.2. Restraints
  - 5.1.2.1. Capital intensive associated with LED lighting
- 5.1.3. Opportunities
  - 5.1.3.1. Growth in infrastructure development coupled with investment in smart city projects
  - 5.1.3.2. Technological advancements in LED lighting
- 5.1.4. Challenges
  - 5.1.4.1. Discrepancies in product quality due to irregular manufacturing processes
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing demand for luminaires for superior performance in terms of light quality
- 5.2.2. Installation: Growing adoption of new installations for greater design flexibility and seamless integration with modern building systems
- 5.2.3. Application: Rising use of outdoor LED lighting solutions for functional and aesthetic needs
- 5.2.4. End Use: Significant usage of LED lighting for residential settings as an energy savings option
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. LED Lighting Market, by Product

6.1. Introduction
6.2. Lamps
6.3. Luminaires

7. LED Lighting Market, by Installation

7.1. Introduction
7.2. New
7.3. Retrofit

8. LED Lighting Market, by Application

8.1. Introduction
8.2. Indoor
8.3. Outdoor

9. LED Lighting Market, by Sales Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. LED Lighting Market, by End Use

10.1. Introduction
10.2. Commercial
10.3. Industrial
10.4. Residential

11. Americas LED Lighting Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific LED Lighting Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa LED Lighting Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Olympia Lighting Unveils Cutting-Edge High Mast Roadway and Area Luminaire, Harnessing the Latest in High-Efficiency LED Technology
- 14.3.2. IKEA ORMANAS smart LED lighting strip launches in more countries
- 14.3.3. Lighting the Path to Spirituality: Halonix launches 'Wall De-Light - Spiritual Series LED Lights'
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio