Solid-State and Other Energy-Efficient Lighting

Solid-State and Other Energy-Efficient Lighting

Global Solid-State and Other Energy-Efficient Lighting Market to Reach US$243.4 Billion by 2030

The global market for Solid-State and Other Energy-Efficient Lighting estimated at US$179.7 Billion in the year 2023, is expected to reach US$243.4 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2023-2030. Solid-State Technology, one of the segments analyzed in the report, is expected to record a 4.9% CAGR and reach US$144.1 Billion by the end of the analysis period. Growth in the HID Technology segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$48.1 Billion While China is Forecast to Grow at 4.1% CAGR

The Solid-State and Other Energy-Efficient Lighting market in the U.S. is estimated at US$48.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$38.3 Billion by the year 2030 trailing a CAGR of 4.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.3% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Global Solid-State and Other Energy-Efficient Lighting Market - Key Trends and Drivers Summarized

Why Is Solid-State Lighting Becoming the Go-To Solution for Energy Efficiency?
Solid-state lighting (SSL), including Light Emitting Diodes (LEDs) and Organic LEDs (OLEDs), is rapidly becoming the preferred choice for energy-efficient and sustainable lighting solutions. Unlike traditional incandescent and fluorescent lights, SSL technologies offer longer lifespans, reduced energy consumption, and lower maintenance costs, making them ideal for residential, commercial, and industrial applications. The growing demand for sustainable lighting, driven by stringent energy regulations, rising electricity costs, and environmental concerns, is spurring the adoption of SSL across various sectors. The versatility of SSL in providing customizable lighting solutions with enhanced color rendering, dimming capabilities, and minimal heat emission is further supporting its growth, especially in smart city projects, automotive lighting, and indoor horticulture.

How Are Technological Advancements Enhancing Energy-Efficient Lighting Solutions?
Technological advancements are significantly enhancing the capabilities and applications of solid-state and other energy-efficient lighting solutions, enabling more intelligent, adaptive, and aesthetically pleasing designs. Innovations in smart lighting systems that integrate SSL with IoT, AI, and automation platforms are transforming lighting from mere illumination to an integral part of smart building infrastructure. The development of human-centric and adaptive lighting solutions that adjust brightness and color temperature based on circadian rhythms is gaining traction, especially in healthcare, education, and office environments. Moreover, advancements in OLED technology, micro-LEDs, and quantum dot LEDs are pushing the boundaries of energy efficiency, color purity, and design flexibility, expanding the application scope of SSL in displays, signage, and wearable devices.

Which Market Segments Are Leading the Growth of the Energy-Efficient Lighting Industry?
Types of energy-efficient lighting include LEDs, OLEDs, compact fluorescent lamps (CFLs), and high-intensity discharge (HID) lamps, with LEDs holding the largest market share due to their superior energy efficiency, cost-effectiveness, and versatility. Applications of energy-efficient lighting span indoor and outdoor lighting, automotive, horticulture, and entertainment, with indoor lighting being the dominant segment due to the high demand for residential, commercial, and industrial lighting solutions. End-use sectors comprise residential, commercial, industrial, automotive, and healthcare, with commercial buildings leading the market due to the growing focus on energy savings and green building certifications. Geographically, Asia-Pacific is the largest market for energy-efficient lighting, driven by rapid urbanization, infrastructure development, and government incentives for energy conservation, while North America and Europe are also significant markets due to strong policy support and technological innovation.

What Are the Key Drivers of Growth in the Solid-State and Other Energy-Efficient Lighting Market?
The growth in the solid-state and other energy-efficient lighting market is driven by several factors, including the rising demand for energy-efficient lighting solutions, technological advancements in smart lighting and SSL technologies, and the increasing focus on reducing carbon footprint and energy consumption. The need to enhance lighting quality, reduce operational costs, and comply with energy efficiency regulations is driving the adoption of SSL across various applications. Technological innovations in human-centric lighting, adaptive lighting systems, and OLED and micro-LED technologies are expanding the scope and versatility of energy-efficient lighting solutions, supporting market growth. The expansion of energy-efficient lighting applications in automotive, healthcare, horticulture, and smart city projects, coupled with the growing emphasis on sustainability and digital transformation, is creating new opportunities for market players. Additionally, the focus on developing cost-effective, durable, and intelligent lighting solutions for diverse environments is further propelling the growth of the energy-efficient lighting market.

Select Competitors (Total 54 Featured) -

• Acuity Brands Lighting Inc.
• Advanced Lighting Technologies, Inc. (ADLT)
• Aixtron SE
• Bridgelux, Inc
• Bright Light Systems Inc.
• Cree, Inc.
• Energy Focus, Inc.
• General Electric Company
• Intematix Corporation
• LED Engin, Inc.
• Nichia Corporation
• Osram Licht AG
• Royal Philips Electronics N.V.
• Seoul Semiconductor Co., Ltd.
• TCP International Holdings Ltd.
• Toyoda Gosei Co., Ltd.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.