Global LED Lighting Market 2023-2029

Global LED Lighting Market 2023-2029

LED, or light-emitting diode lighting, is a type of lighting that uses semiconductors to produce light. Unlike traditional lighting technologies, such as incandescent, fluorescent, or HID lamps, LEDs are highly efficient and produce little heat, making them an environmentally-friendly and cost-effective lighting solution for a wide range of applications. LED lighting works by passing an electrical current through a thin semiconductor material, usually made of gallium nitride, which produces photons of light. The technology allows for the production of different colors of light, with varying brightness levels, and can be used in a wide range of lighting applications, including residential and commercial buildings, automotive lighting, and street lighting. The global LED lighting market is expected to increase by USD 115.7 billion, at a compound annual growth rate (CAGR) of 15.43% from 2023 to 2029, according to the latest edition of the Global LED Lighting Market Report.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global LED lighting market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product type, installation type, distribution channel, end user, and region. The global market for LED lighting can be segmented by product type: lamps, luminaires. Globally, the lamps segment made up the largest share of the LED lighting market. LED lighting market is further segmented by installation type: retrofit, new installation. The retrofit segment captured the largest share of the market in 2022. Based on distribution channel, the LED lighting market is segmented into: store based, non-store based. According to the research, the store based segment had the largest share in the global LED lighting market. On the basis of end user, the LED lighting market also can be divided into: indoor lighting, outdoor lighting. The indoor lighting segment held the largest revenue share in 2022. LED lighting market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

The lamps market is further segmented into bulb lamps, spot lamps, A-lamps, T-lamps. The bulb lamps segment was the largest contributor to the global LED lighting market in 2022. Furthermore, the luminaires market has been categorized into celling luminaires, downlight luminaires, spots luminaires, strip lights. The celling luminaires segment is estimated to account for the largest share of the global LED lighting market.

Market Segmentation

By product type: lamps, luminaires

By installation type: retrofit, new installation

By distribution channel: store based, non-store based

By end user: indoor lighting, outdoor lighting

By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The report also provides a detailed analysis of several leading LED lighting market vendors that include General Electric Company, Philips Lighting Ltd., Samsung Electronics Co., Ltd., Osram Licht AG, Cooper Lighting LLC, Sharp Corporation, Cree Inc., Zumtobel Group AG, Acuity Brands, Inc., Hubbell Incorporated, LSI Industries Inc., Dialight plc, Eaton Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.



Scope of the Report

• To analyze and forecast the market size of the global LED lighting market.
• To classify and forecast the global LED lighting market based on product type, installation type, distribution channel, end user, region.
• To identify drivers and challenges for the global LED lighting market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global LED lighting market.
• To identify and analyze the profile of leading players operating in the global LED lighting market.

• Gain a reliable outlook of the global LED lighting market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.