Electric Lighting Equipment Market Size, Share, and Growth Analysis, By Product (LED Lighting, Incandescent Lighting), By Installation Type (New Installations, Retrofit Installations), By Application, By End User, By Region - Industry Forecast 2025-2032

Global Electric Lighting Equipment Market size was valued at USD 110.0 billion in 2023 and is poised to grow from USD 119.24 billion in 2024 to USD 227.33 billion by 2032, growing at a CAGR of 8.4% during the forecast period (2025-2032).

The global electric lighting equipment market is witnessing significant growth driven by urbanization, the demand for energy-efficient solutions, and ongoing technological innovations. Governments are increasingly focusing on advanced lighting technologies to support urban planning and sustainability efforts while facilitating the development of smart city infrastructure. Smart lighting systems collect real-time data, such as occupancy and ambient light levels, to optimize energy use and enhance public safety in commercial areas, public spaces, and transit hubs. The trend of public-private partnerships is anticipated to bolster the deployment of these intelligent lighting solutions, which are instrumental for adaptive illumination, safety improvements, and environmental monitoring. These initiatives underscore a broader commitment to sustainable urban development, aiming to enhance municipal efficiency and engage residents effectively.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electric Lighting Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Electric Lighting Equipment Market Segments Analysis

Global Electric Lighting Equipment Market is segmented by Product, Installation Type, Application, End User and region. Based on Product, the market is segmented into LED Lighting, Incandescent Lighting, Fluorescent Lighting and Others. Based on Installation Type, the market is segmented into New Installations and Retrofit Installations. Based on Application, the market is segmented into Indoor Lighting and Outdoor Lighting. Based on End User, the market is segmented into Residential, Commercial, Industrial and Government & Infrastructure. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Electric Lighting Equipment Market

The global electric lighting equipment market is experiencing significant growth driven by the urgent call for improved energy efficiency and a reduction in carbon emissions. With increasing pressure from regulations, both businesses and households are transitioning from traditional light bulbs to more efficient LED and smart lighting solutions. This shift is further supported by mandatory efficiency ratings, as well as incentives and rebates that foster sustainable practices. As a result, there is a notable increase in market penetration, influencing demand in both advanced and developing economies. These dynamics are reshaping the future of lighting technology and driving innovation in the sector.

Restraints in the Global Electric Lighting Equipment Market

In various developing regions, the slow adoption of energy-efficient lighting products can be attributed to a significant lack of consumer awareness about their long-term benefits. Many users, hindered by limited exposure to innovative solutions and influenced by cost sensitivity, tend to stick with outdated technologies. This knowledge gap adversely affects the overall market analysis, complicating efforts to predict readiness for smart lighting systems and accurately determine the demand for replacements. Consequently, the industry's growth is impeded, as potential advancements remain underutilized in favor of conventional, less efficient options.

Market Trends of the Global Electric Lighting Equipment Market

The Global Electric Lighting Equipment market is witnessing a significant trend toward the proliferation of intelligent and networked lighting solutions. This shift is primarily fueled by a growing consumer and enterprise demand for automation and enhanced energy efficiency. Smart lighting systems that integrate with building management platforms and the Internet of Things are gaining traction, enabling functionalities such as remote control, motion detection, and voice activation. As these technologies evolve, they are reshaping lighting ecosystems, encouraging a transition from conventional lighting to sophisticated, connected solutions designed to improve user experience and reduce energy consumption across residential, commercial, and industrial sectors.