LED Lighting

Global LED Lighting Market to Reach US$94.0 Billion by 2030

The global market for LED Lighting estimated at US$62.8 Billion in the year 2024, is expected to reach US$94.0 Billion by 2030, growing at a CAGR of 7.0% over the analysis period 2024-2030. Lamps, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$36.3 Billion by the end of the analysis period. Growth in the Luminaires segment is estimated at 6.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$10.1 Billion While China is Forecast to Grow at 8.5% CAGR

The LED Lighting market in the U.S. is estimated at US$10.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.7 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.4% and 7.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.

Global LED Lighting Market - Key Trends & Drivers Summarized

What Is LED Lighting and How Is It Revolutionizing Illumination?

LED (Light Emitting Diode) lighting is a transformative technology that has fundamentally changed how we light our environments, providing more energy-efficient, durable, and environmentally friendly alternatives to traditional lighting methods. Unlike conventional incandescent and fluorescent lights, LEDs do not use filaments or gases to produce light. Instead, they pass light through semiconductors, making them more efficient at converting energy into light with minimal heat production. This efficiency reduces energy consumption significantly, leading to lower utility bills and decreased environmental impact. Additionally, LEDs are known for their longevity and robustness, which contribute to less frequent replacements and reduced waste.

How Are Technological Advancements Enhancing LED Lighting?

The field of LED lighting is continuously advancing with innovations that enhance light quality, efficiency, and integration capabilities. Recent developments include improvements in LED color accuracy and light intensity to better mimic natural sunlight, enhancing comfort and visibility in various settings. Technological integration has also expanded, with LEDs increasingly becoming a part of connected home systems and smart cities, allowing for automated lighting adjustments that respond to environmental changes and human activities. Moreover, advancements in materials have enabled LEDs to become more compact and flexible, opening up new possibilities for design and application, from wearable technology to architectural features that blend functionality with aesthetic appeal.

What Current Trends Are Influencing the LED Lighting Market?

The LED lighting market is being shaped by several key trends that reflect broader shifts in technology, environmental policy, and consumer preferences. There is a growing emphasis on sustainability, driving demand for energy-efficient lighting solutions like LEDs that help reduce carbon footprints and energy costs. In the realm of design, LEDs are increasingly favored for their versatility and ability to fit into minimalist and space-efficient designs, appealing to modern aesthetic preferences. Furthermore, regulatory changes globally are phasing out less efficient lighting solutions, propelling the adoption of LEDs in residential, commercial, and public sectors. The expansion of smart home and IoT applications also supports this trend, as consumers seek more integrated and automated home systems.

What Are Factors Driving Growth in the LED Lighting Market?

The growth in the LED lighting market is driven by several factors, vital for understanding its expanding role in global markets. Technological advancements that enhance the efficiency and applicability of LED solutions are crucial, catering to a wider range of industrial, commercial, and residential needs. Economic factors, such as the decreasing cost of LED production, make these solutions more accessible to a broader market, accelerating adoption rates. Consumer awareness of environmental issues and sustainability is also a significant driver, as more individuals and organizations opt for greener alternatives. Additionally, government policies and incentives that promote energy-efficient technologies further stimulate the LED market. The integration of LEDs into emerging tech areas like smart cities and IoT devices offers new opportunities for growth, highlighting the dynamic and evolving nature of the LED lighting industry. These factors collectively ensure the continued expansion and relevance of LED lighting in addressing modern energy and environmental challenges.

SCOPE OF STUDY:

The report analyzes the LED Lighting market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product Type (Lamps, Luminaires); Application (Indoor, Outdoor); End-Use (Residential, Commercial, Industrial, Other End-Uses)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 190 Featured) -

• Acuity Brands Lighting Inc.
• Cree Lighting
• Dialight PLC
• Digital Lumens, Inc.
• Hubbell Incorporated
• LSI Industries Inc.
• Osram Licht AG
• Surya Roshni Ltd.
• Signify
• Wipro Lighting
• Zumtobel Lighting GmbH

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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