industrial and Commercial LED Lighting Market by Product (LED Lamps and LED Fixture), Application (Indoor Lightning and Outdoor Lightning), and End User (Industrial and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030
The global industrial and commercial LED lighting market size was valued at $29.90 billion in 2020, and is projected to reach $172.95 billion by 2030, growing at a CAGR of 18.1% from 2021 to 2030. The light generated by an incandescent light bulb filament is a result of the electrical energy getting converted into heat energy, which is then converted into light energy. A light-emitting diode (LED) is a semiconductor light source that converts electrical energy directly into light energy. These devices are often used in lamps as a replacement of incandescent light sources.
Factors such as increase in demand for cost-effective and energy-saving LED lighting, government campaign towards LED adoption to curb cost and pollution, and increase in need for replacing traditional lighting are expected to fuel growth of the industrial and commercial LED lighting market. However, voltage sensitivity and temperature dependency are expected to hinder the market growth. Conversely, surge in need for smart lighting is expected to offer lucrative opportunities for the market globally.
The global industrial and commercial LED lighting market size is segmented on the basis of product, application, end user, and region. By product, the market is categorized into LED lamps and LED fixtures. The applications covered in this report include indoor lighting and outdoor lighting. The end users discussed in this study are industrial and commercial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Wolfspeed, Inc., Deco Lighting, Inc., Dialight PLC, Eaton Corporation, General Electric Company, Koninklijke Philips N.V., Osram Licht AG, Syska, Toshiba Corporation (Toshiba TEC Corporation), and Zumtobel Group.
Key Market Segments
By Product Type
LED Lamps
LED Fixtures
By Application
Indoor Lighting
Outdoor Lighting
By End User
Industrial
Commercial
By Region
North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Wolfspeed, Inc.
Deco Lighting, Inc.
Dialight PLC.
Eaton Corporation
General Electric Company
Koninklijke Philips N.V.
Osram Licht AG
Syska
Toshiba Corporation (Toshiba TEC Corporation)
Zumtobel Group
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