LED Lighting Market Analysis and Forecast to 2031: By Product (Lamps, Luminaires), Application (Indoor, Outdoor), End-use (Residential, Commercial), and Region
LED Lighting Market is expected to reach $134 bn by 2031, growing at a CAGR of 9.1% between 2021-2031.
LED lighting is a type of lighting that uses light–emitting diodes (LEDs) as the source of light. LEDs are semiconductor devices that convert electrical energy into visible light. LED lighting is more energy–efficient and has a longer lifespan than traditional lighting such as incandescent and fluorescent lighting.
There are a few different types of LED lighting:
- Standard LED bulbs – These are the most common type of LED bulbs and can be used in a variety of applications, including general lighting, task lighting, and accent lighting.
- Flood lights – Flood lights are a type of LED light that is designed to provide a wide, even beam of light. They are often used for outdoor lighting, such as security lighting or landscape lighting.
- High–intensity discharge (HID) LED lights – HID LED lights are a type of LED light that is very bright and is typically used in industrial and commercial applications, such as warehouse lighting or street lighting.
- Light–emitting diode (LED) lamps – LED lamps are a type of LED light that is designed to mimic the light output of traditional incandescent bulbs.
COVID-19 Impact:
The impact of covid on LED lighting market was mainly felt in the short term, as the lockdown led to a decrease in demand from the construction and hospitality sectors. However, the long–term impact is expected to be positive, as the move to LED lighting is seen as a way to reduce energy costs.
Report Coverage
| Report Attribute | Details |
|---|---|
| Historic Period | 2015-2020 |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Segments Covered | Product, Application, Distribution Channel |
| Key Companies | Acuity Brands Lighting Inc., Dialight, Hubbell, Panasonic Corporation, Siteco GmbH, MIC Electronics Ltd., Havells India Ltd., InstaPower Ltd., Phillips Lighting Holding B.V., Cooper Industries Inc. |
| Regional Scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Analysis Coverage | Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments |
Key Trends and Drivers:
- The growing number of smart city projects around the world is driving up demand for smart lighting solutions for highway and roadway applications. Governments in a number of nations, including India, Italy, Germany, and China, are focused on strategic partnerships to construct smart cities, thereby increasing market representation.
- The increased emphasis on environmental protection has a considerable impact on the lighting sector. Energy conservation has become one of the most prioritized implementation initiatives throughout the years, and LED lighting adoption contributes greatly to energy conservation.
- The growing acceptance of LEDs, as well as the development of LED drivers, are creating strong market potential for commercial interior lighting. Integration of Li-Fi technology in intelligent lighting is critical to the industry’s growth.
Restraints and Challenges:
- In numerous nations, investors are having difficulty establishing new light industrial hubs, owing to rigorous government policies, which include environmental norms and regulations. Other obstacles that investors and manufacturers must overcome before establishing a factory include high capital expenses, large investments in research and development, inefficient raw material supply, logistics inefficiencies, and a lack of innovative production equipment. These reasons are limiting this market’s growth in developing countries.
- Despite the fact that smart lighting systems are energy-efficient lighting solutions that can save money in the long term, the initial cost is expensive owing to the cost of the equipment as well as integration and installation services. As a result, the cost of installing smart lighting is higher than that of traditional lighting systems due to the high cost of software, control systems, and LED light sources required for smart lighting solutions. The deployment of smart lighting control technologies is hampered by this problem.
Market Segments:
By Product:
- Lamps
- Luminaries
By Application:
- Commercial
- Residential
- Industrial
By Distribution Channel:
- Online
- Distributors
- Retailers
Key Companies:
- Acuity Brands Lighting Inc.
- Dialight
- Hubbell
- Panasonic Corporation
- Siteco GmbH
- MIC Electronics Ltd.
- Havells India Ltd.
- InstaPower Ltd.
- Phillips Lighting Holding B.V.
- Cooper Industries Inc.
Recent Developments:
April 11, 2022: SPX Corporation (“SPX”) (NYSE: SPXC) announced that it has completed the acquisition of International Tower Lighting, LLC (“ITL”), a private company headquartered in La Vergne, Tennessee. International Tower Lighting, LLC is a recognized industry leader in the design and manufacture of obstruction lighting systems and components. The company offers a full line of medium intensity LED and xenon strobe obstruction lighting systems as well as replacement parts for the majority of US-made xenon strobe systems.
March 22, 2022: CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced the acquisition of Southern Lighting Gallery and Charleston Lighting and Interiors (collectively “SLG” or the “Company”), a premium provider of indoor and outdoor residential lighting fixtures, by CORE portfolio company Saylite. Saylite is a full-service provider of LED and non-LED configured lighting products and solutions serving commercial, industrial, and premium residential markets.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. LED Lighting Market Outlook
3.1. LED Lighting Market Segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. Pestle Analysis
3.5. Value Chain Analysis
3.5.1. Raw Type Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and Retailers
3.6. Impact of Russia and Ukraine War On the Global LED Lighting Market
Chapter 4. Economic Impact of Covid-19
4.1. Overall Impact of Covid-19
4.2. Impact of Covid On the Global LED Lighting Market
4.3. Economic Impact Analysis
Chapter 5. LED Lighting Market by Application
5.1. Market Overview
5.2. Commercial
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Residential
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Industrial
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 6. LED Lighting Market by Distribution Channel
6.1. Market Overview
6.2. Online
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Distributors
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. Retailers
6.4.1. Market Size and Forecast, 2021-2031 ($Million)
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 7. LED Lighting Market by Product
7.1. Market Overview
7.2. Lamps
7.2.1. Market Size and Forecast, 2021-2031 ($Million)
7.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3. Luminaries
7.3.1. Market Size and Forecast, 2021-2031 ($Million)
7.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3.3. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 8. LED Lighting Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.3. North America LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.2.4. North America LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.5. North America LED Lighting Market Size and Forecast by Country, 2021-2031, ($Million)
8.2.6. The U.S.
8.2.6.1. U.S. LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.6.2. U.S. LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.2.6.3. U.S. LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.7. Canada
8.2.7.1. Canada LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.7.2. Canada LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.2.7.3. Canada LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.8. Mexico
8.2.8.1. Mexico LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.8.2. Mexico LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.2.8.3. Mexico LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.3. Europe LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.4. Europe LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.5. Europe LED Lighting Market Size and Forecast by Country, 2021-2031, ($Million)
8.3.6. Germany
8.3.6.1. Germany LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.6.2. Germany LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.6.3. Germany LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.7. France
8.3.7.1. France LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.7.2. France LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.7.3. France LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.8. U.K.
8.3.8.1. U.K. LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.8.2. U.K. LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.8.3. U.K. LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.9. Spain
8.3.9.1. Spain LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.9.2. Spain LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.9.3. Spain LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.10. Italy
8.3.10.1. Italy LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.10.2. Italy LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.10.3. Italy LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.11. Russia
8.3.11.1. Russia LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.11.2. Russia LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.11.3. Russia LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.12. Rest of Europe
8.3.12.1. Rest of Europe LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.12.2. Rest of Europe LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.3.12.3. Rest of Europe LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific LED Lighting Market Size and Forecast by Country, 2021-2031, ($Million)
8.4.3. Asia-Pacific LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.4. Asia-Pacific LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.5. Asia-Pacific LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.6. China
8.4.6.1. China LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.6.2. China LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.6.3. China LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.7. India
8.4.7.1. India LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.7.2. India LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.7.3. India LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.8. Japan
8.4.8.1. Japan LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.8.2. Japan LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.8.3. Japan LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.9. South Korea
8.4.9.1. South Korea LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.9.2. South Korea LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.9.3. South Korea LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.10. Rest of APAC
8.4.10.1. Rest of APAC LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.10.2. Rest of APAC LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.4.10.3. Rest of APAC LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.3. Rest of the World LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.5.4. Rest of the World LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.5. Rest of the World LED Lighting Market Size and Forecast by Country, 2021-2031, ($Million)
8.5.6. Latin America
8.5.6.1. Latin America LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.6.2. Latin America LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.5.6.3. Latin America LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.7. Middle East
8.5.7.1. Middle East LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.7.2. Middle East LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.5.7.3. Middle East LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.8. Africa
8.5.8.1. Africa LED Lighting Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.8.2. Africa LED Lighting Market Size and Forecast by Distribution Channel, 2021-2031, ($Million)
8.5.8.3. Africa LED Lighting Market Size and Forecast by Product, 2021-2031, ($Million)
Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions
Chapter 10. Company Profiles
10.1. Acuity Brands Lighting Inc.
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product offerings
10.1.4. Key Strategic Initiatives
10.1.5. Swot Analysis
10.2. Dialight
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. Swot Analysis
10.3. Hubbell
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. Swot Analysis
10.4. Panasonic Corporation
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. Swot Analysis
10.5. Siteco GmbH
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. Swot Analysis
10.6. MIC Electronics Ltd.
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. Swot Analysis
10.7. Havells India Ltd.
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. Swot Analysis
10.8. InstaPower Ltd.
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. Swot Analysis
10.9. Phillips Lighting Holding B.V.
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. Swot Analysis
10.10. Cooper Industries Inc.
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. Swot Analysis
*the List of Company Is Subject To Change During the Final Compilation of the Report
Key Companies:
- Acuity Brands Lighting Inc.
- Dialight
- Hubbell
- Panasonic Corporation
- Siteco GmbH
- MIC Electronics Ltd.
- Havells India Ltd.
- InstaPower Ltd.
- Phillips Lighting Holding B.V.
- Cooper Industries Inc.
Market Segments:
By Product:
- Lamps
- Luminaries
By Application:
- Commercial
- Residential
- Industrial
By Distribution Channel:
- Online
- Distributors
- Retailers
By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Central & South America
- Brazil
- Rest of CSA
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA