Industrial And Commercial LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application (Indoor, Outdoor), By End Use (Industrial, Commercial), By Region, And Segment Forecasts, 2024 - 2030

Industrial And Commercial LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application (Indoor, Outdoor), By End Use (Industrial, Commercial), By Region, And Segment Forecasts, 2024 - 2030

Industrial And Commercial LED Lighting Market Growth & Trends

The global industrial and commercial LED lighting market size is expected to reach USD 103.67 billion by 2030, expanding at a CAGR of 10.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The high efficiency of LED lights combined with government regulations to ban incandescent lamps is estimated to drive demand over the forecast period.

The increasing shift towards the implementation of cost-effective systems is expected to proliferate demand. Concepts such as smart lighting which offer several benefits including comfort, safety, and security are projected to offer lucrative growth opportunities for the industry. For instance, the prevalence of various smart city schemes across the U.S. and Europe to reduce the consumption of energy and peak power demand is estimated to positively impact sales.

Stringent government regulations and ban on incandescent lamps and set up of minimum efficiency standards by various governments across the globe is further estimated to propel industrial and commercial LED lighting market. For instance, Brazil has banned 60-watt+ and 100-watt incandescent lamps since 2012. Additionally, various legislative actions taken to support these systems and the implementation of various energy-efficient programs are expected to be the critical parameter affecting the industry.

Industrial And Commercial LED Lighting Market Report Highlights

• Luminaires dominated the market and accounted for a share of 58.6% in 2023. Advances in LED chip technology, optics, and thermal management improved the performance, efficiency, and reliability of LED luminaires.
• High color rendering index (CRI) LED lamps provide better color accuracy and consistency, improving visibility and reducing eye strain. This makes them suitable for demanding applications that require precise lighting, such as manufacturing, healthcare, and retail.
• The indoor segment accounted for the largest market revenue share in 2023. This section includes a variety of indoor lighting uses, such as in businesses, factories, and schools.
• The North American region market is expected to witness significant growth over the forecast period. As cities and municipalities undertake infrastructure upgrades and smart city initiatives, there is a growing emphasis on incorporating energy-efficient and sustainable technologies.

Please note The report will be delivered in 2-3 business days upon order notification.