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LED Lighting Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Global LED lighting market is forecasted to value over US$ 90.7 billion by 2029 end and register a CAGR of 13% from 2019 to 2029. The rising demand for energy-efficient lighting alongside the growing adoption of LEDs as a light source is driving the
LED Lighting Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
Global LED lighting market is forecasted to value over US$ 90.7 billion by 2029 end
and register a CAGR of 13% from 2019 to 2029.
The rising demand for energy-efficient lighting alongside the growing adoption of
LEDs as a light source is driving the growth of the market. Rising smart cities project
alongside the reduction in prices of LEDs is expected to augment the market during
the forecast period. LED reduces heat losses and is economical in the consumption of
electricity. Advancement in technology, growing focus on green lighting remain the
major factor burgeoning the market.
The market is segmented into product type, installation type, applications, and
region. Based on product type, LED luminaires are expected to witness vast growth.
Luminaries are vastly deployed in the industrial and commercial sector. These are
vastly deployed in high bays, track lights and streetlights. Luminaries deliver more
light as per output power.
Based on application, the market is classified into indoor and outdoor lighting. Indoor
lighting is expected to grow exponentially over the coming years. The indoor
segment is bifurcated into commercial, industrial, residential and others. Higher
adoption of LED lights in retail stores, malls, and offices have fuelled the growth of
indoor lighting thus propelling the LED lighting market. Outdoor application is also
expected to witness vast growth during the forecast period. Various government
initiative has triggered the deployment of LED lights in road signs, traffic signals, and
highways.
On the basis of installation type, retrofit lamps are expected to witness vast growth.
Retrofit lamps are the LED lamps that are utilized to partially replace lighting fixtures
present within LED lamps. It offers high lifecycle alongside efficient energy saving.
Rapid preference to LED lamps over incandescent lamps is driving the growth of the
retrofit installation, hence expanding the LED lighting market.
In terms of region, Asia-Pacific is the global leader of the market. The region is likely
to witness huge growth over the forecast period as well. Emerging economies like
India, China, Japan, and Taiwan are already witnessing a surge in manufacturing and
usage of LED lighting. Favourable government policies taken by the governments of
these countries have fuelled the growth of the market. North America and Europe
are also expected to contribute significantly to the growth of the market. Europe and
North America have witnessed huge growth owing to rising usage of ultra-modern
lighting. Rising investments in R&D for efficient energy solutions alongside rising LED
lamp deployment in industrial and residential applications is inflating the market in
the region.
Prominent players like Osram GmbH, General Electric, and Signify Holding are
developing LED lighting of low price aimed at efficient performance. These players
are trying to further stimulate the market by enhancing product optimization and
product development.
Prominent players of the market are OSRAM Licht AG, Dialight plc, Zumtobel
Group, Samsung, Cree, Inc., General Electric Company, Philips Lighting Holding B.V,
Virtual Extension and Cooper Industries, Inc.
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Global LED Lighting Market Segmentation:
By Product Type:
 LED Luminaries
 LED lamps
By Installation Type
 New Installation
 Retrofit Installation
By Application Type
 Indoor lighting
 Outdoor lighting
By Region
 North America
 Europe
 Asia Pacific
 Latin America
 Rest of the World
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Competitive Landscape:
● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global LED lighting market by
installation type, by application, by product, and by region
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the rest of the world
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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