LED Lighting Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Installation Type (Fixture, Retrofit), By Products (Lamp, Luminaires), By End User (Commercial, Residential, Industrial, Others) And Geography - Forecasts From 2019 To 2024

  • Published : Jun 2021
  • Report Code : KSI061612331
  • Pages : 129

The global LED lighting market is projected to expand at a CAGR of 10.73% over the forecast period to grow to US$101.900 billion by 2024 from US$55.282 billion in 2018. The growing focus on reducing power consumption globally is significantly driving the demand for LED lighting solutions.

The recent reduction in the prices of LED lighting products along with the simultaneous rise in disposable income is projected to boost the adoption of LED lighting solutions globally during the forecast period. Furthermore, the rising shift from traditional lighting to modern lighting solutions coupled with the stringent regulations regarding the use of conventional lighting and energy consumption is anticipated to augment the LED lighting market growth in the coming years. In addition, technological advancements such as smart LEDs are further expected to increase the demand for these energy-saving solutions.

The market has been segmented on the basis of installation type, products, end-user, and geography. By installation type, retrofit is expected to grow significantly owing to the rising adoption of energy-efficient LED lamps. By end-user, the commercial sub-segment is expected to hold a substantial share on account of the wide application of LEDs in offices, malls, retail stores, etc.

Geographically, Asia Pacific is anticipated to witness significant growth owing to the rising disposable income in the rapidly growing economies of India and China coupled with the rising infrastructure activities in the region. Simultaneously, North America is also projected to grow at a notable rate owing to the increasing R&D activities for energy-efficient solutions.

DRIVERS
• Growing preference for energy-efficient lighting solutions.
• Burgeoning investment in smart cities.

RESTRAINTS
• Development of other alternative lighting solutions.
• Lack of awareness.

INDUSTRY UPDATE
• In May 2019, Acuity Brands Inc. launched WINLINE 500 a series of luminaires from Winona which uses eldoLED.
• In September 2018, Cree Inc., launched XLamp eTone LEDs, a breakthrough set of chips onboard LEDs.
• In December 2017, Cree, Inc. launched XLamp XD16 LED, an extreme density LED

The major players profiled in the LED Lighting market include Osram GmbH, Koninklijke Philips N.V., Cree, Inc., Samsung Electronics Co., Ltd., Sharp Electronics Corporation, Zumtobel Group AG, Eaton, General Electric Company, Dialight PLC, Everlight Electronics Co. Ltd., and Acuity Brands Lighting, Inc.

LED Lighting Market Scope:

Report Metric Details
 Market size value in 2018  US$55.282 billion
 Market size value in 2024  US$101.900 billion
 Growth Rate  CAGR of 10.73% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments Covered  Installation Type, Products, End User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Osram GmbH, Koninklijke Philips N.V., Cree, Inc., Samsung Electronics Co., Ltd.,   Sharp Corporation, Zumtobel Group AG, Eaton, General Electric Company, Dialight   PLC, Everlight Electronics Co. Ltd., Acuity Brands Lighting, Inc.
 Customization scope  Free report customization with purchase

Segmentation

The LED lighting market has been analyzed through the following segments:

• By Installation Type
o Fixture
o Retrofit

• By Products
o Lamp
o Luminaires

• By End User
o Commercial
o Residential
o Industrial
o Others

• By Geography
o North America
? USA
? Canada
? Mexico

o South America
? Brazil
? Argentina
? Others

o Europe
? Germany
? France
? United Kingdom
? Spain
? Others

o Middle East and Africa
? Saudi Arabia
? Israel
? Others

o Asia Pacific
? China
? Japan
? South Korea
? India
? Others


Frequently Asked Questions (FAQs)

LED Lighting Market was valued at US$55.282 billion in 2018.
The global LED lighting market is projected to expand at a CAGR of 10.73% over the forecast period.
The growing focus on reducing power consumption globally is significantly driving the demand for LED lighting solutions.
The LED lighting market is projected to reach a market size of US$101.900 billion in 2024.
Geographically, Asia Pacific is anticipated to witness significant growth owing to the rising disposable income in the rapidly growing economies of India and China coupled with the rising infrastructure activities in the region.

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. LED LIGHTING MARKET BY INSTALLATION TYPE
5.1. Fixtures
5.2. Retrofit
6. LED LIGHTING MARKET BY PRODUCTS
6.1. Lamps
6.2. Luminaires
7. LED LIGHTING MARKET BY END USER
7.1. Commercial
7.2. Residential
7.3. Industrial
7.4. Others
8. LED LIGHTING MARKET BY GEOGRAPHY
8.1. North America
8.1.1. USA
8.1.2. Canada
8.1.3. Mexico
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. United Kingdom
8.3.4. Spain
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.4.2. Israel
8.4.3. Others
8.5. Asia Pacific
8.5.1. China
8.5.2. Japan
8.5.3. South Korea
8.5.4. India
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.1. Osram GmbH
10.2. Koninklijke Philips N.V.
10.3. Cree, Inc.
10.4. Samsung Electronics Co., Ltd.
10.5. Sharp Corporation
10.6. Zumtobel Group AG
10.7. Eaton
10.8. General Electric Company
10.9. Dialight PLC
10.10. Everlight Electronics Co. Ltd.
10.11. Acuity Brands Lighting, Inc.
LIST OF FIGURES
LIST OF TABLES


Osram GmbH
Koninklijke Philips N.V.
Cree, Inc.
Samsung Electronics Co., Ltd.
Sharp Corporation
Zumtobel Group AG
Eaton
General Electric Company
Dialight PLC
Everlight Electronics Co. Ltd.
Acuity Brands Lighting, Inc.