LED Lighting Market Outlook 2027 By Size, Share, Trends, Competition, Opportunity, and Forecast

According To TechSci Research, Global LED Lighting Market was valued at USD66.83 billion in 2020 and is projected to grow around USD81.09 billion by 2026 owing to increasing demand for energy-efficient lighting. Also, government programs that includes smart city development and overall infrastructure development are also driving the Global LED lighting market in the forecast period. However, growth in the industry was hindered in the year 2020, primarily due to global lockdowns that resulted in a break in economic activity. However, demand is gradually recovered after the second quarter.

LED stands for light emitting diode which is a PN junction semiconductor diode that emits light when an electric current flows in a forward direction. In this diode, the charge carrier is sent as two on the P-side and electrons on the N-side to produce energy in the form of light and heat. LED lighting products produce higher and more efficient light than incandescent light bulbs.

Decline in LED Lighting Product Costs to Boost the Growth

The decline in the cost of Led lighting is due to use of ASP of chips and components used in the manufacturing process. This in addition to the government grants for the purchase of semiconductor equipment which are used in manufacturing LED such as metal-organic is decreasing the manufacturing costs, which in turn is fostering the manufacturers to increase their LED production capacity.

Demand for Energy-efficient Lighting to Positively Influence the Growth

Demand for LED lighting has increased due to increased demand for energy-efficient lighting, inefficient lighting technologies are gradually being replaced out in old facilities through remodeling and retrofit activities with new LEDs. For new developments activities, recent international regulations have shifted to focus on sustainable, energy-efficient projects. Moreover, high durability and all term benefits have led customers to shift towards LED lighting which is leading the growth in the market.

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Emerging LI-fI Technology to Drive the Market Growth

Light Fidelity, or Li-Fi, is a revolutionary innovation that can transmit massive amounts of data through LEDs (Light Emitting Diodes). Li-Fi is an application of Visual Light Communications, Li-Fi is the faster, more secure, and energy-efficient replacement of today's Wi-Fi, transmitting data at speeds faster than the latter technology. Such emerging use of LED is driving the market. Moreover, smart or connected lighting systems are increasingly enhancing the standard for building and infrastructures across the globe, driving substantial growth across segments for instance business office, hospitality and industrial lighting applications.

Market Segmentation

The Global LED Lighting Market can be segmented based on Type, Application, Installation type, End Use, Distribution Channel and Region. Based on type, the market can be segmented into LED Bulbs and Lamps, Batten Lights, Downlights and others. In terms of application the market can be bifurcated into Indoor Lighting, Outdoor Lighting. Based on Installation Type, the market is segmented into New Installation, Retrofit Installation. Based on the end-use, the market is bifurcated into Residential, Commercial and Industrial. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.

Company Profiles

Signify N.V, Acuity Brands Inc., Osram GmBH, Seoul Semiconductor Co., Ltd., Zumtobel Lighting GmbH, General Electric Co, Fagerhult Group, Hubbell Incorporated, Everlight Electronics Co Ltd., Foshan Electrical & Lighting Co Ltd, Endo Lighting Corp, LSI Industries Inc., FW Thorpe Plc, Havells India Ltd, Dialight plc are the major players operating in the Global LED Lighting Market.

Attribute	Details
Market size value in 2020	USD66830.00 Million
Revenue Forecast in 2026	USD81099.76 Million
United States Market size value in 2020	USD 9,339.752 Million
Growth Rate	3.73%
Base Year	2020
Historical Years	2016 – 2019
Estimated Year	2021
Forecast Period	2022 – 2026
Quantitative Units	Revenue in USD Million and CAGR for 2016-2020 and 2021-2026
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	·         Type ·         Application ·         Installation Type ·         End Use ·         Distribution channel
Regional Scope	North America; Europe; Asia Pacific; Middle East & Africa; South America
Country Scope	United States; Mexico; Canada; Germany; United Kingdom; France; Russia; Italy; China; India; Japan; South Korea; Australia; Singapore; Vietnam; UAE; Saudi Arabia; South Africa; Turkey; Egypt; Nigeria; Brazil; Argentina; Colombia; Chile
Key Companies Profiled	Signify N.V, Acuity Brands Inc., Osram GmBH, Seoul Semiconductor Co., Ltd., Zumtobel Lighting GmBH, General Electric Co, Fagerhult Group, Hubbell Incorporated, Everlight Electronics Co Ltd., Foshan Electrical & Lighting Co Ltd, Endo Lighting Corp, LSI Industries Inc., FW Thorpe Plc, Havells India Ltd, Dialight plc.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the Global LED Lighting Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Global LED Lighting Market, By Type:
• LED Bulbs and Lamps
• Batten Lights
• Downlights
• Others

·         Global LED Lighting Market, By Application:

• Outdoor Lighting
•  Indoor Lighting
• Global LED Lighting Market, By Installation Type:
• Retrofit Installation
• New Installation
• Global LED Lighting Market, By End Use:
• Commercial
• Residential
• Industrial
• Global LED Lighting Market, By Distribution Channel:

o   Direct Sales

o   Retail

• Global LED Lighting Market, By Region:
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Singapore
• Vietnam
• North America
• United States
• Canada
• Mexico
• Europe
• Russia
• Germany
• France
• United Kingdom
• Italy 

• Middle East & Africa
• UAE
• Saudi Arabia
• Egypt
• South Africa
• Turkey
• Nigeria
• South America
• Brazil
• Argentina
• Colombia
• Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global LED Lighting Market.

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