About LED Lightings
Government rebate and retrofit programs to stimulate the deployment of LED lighting, as well as strict restrictions prohibiting or restricting the use of inefficient lighting technologies, are all contributing to market growth. LED lighting is more expensive than incandescent, CFL, and halogen lighting, but it has a longer service life and produces more lumens for less wattage. Furthermore, over the projected period, the continuously dropping prices of LED lamps and luminaires, as well as the availability of smart lighting solutions, combined with updated energy policies around the world, are expected to give an impetus for market expansion.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 14.77% |
The market is fiercely competitive and extremely consolidated, with the top five players accounting for the majority of the market's revenue. Key players use a variety of techniques to maintain their market share, including new product creation, upgrades to existing product lines, and mergers and acquisitions. Forwarding integration is becoming more popular in the industry as semiconductor companies aim to establish themselves as lighting companies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global LED Lightings market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Phillips Lighting Holding B.V. (Netherlands), General Electric Company (United States), OSRAM Licht AG (Germany), Cree, Inc. (United States), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (United Kingdom), Zumtobel Group AG (Austria), Samsung (South Korea) and Sharp Corporation (Japan). are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hubbell, Panasonic Corporation, Signify Holding, Semiconductor Co. Ltd. and Syska.
Segmentation Overview
AMA Research has segmented the market of Global LED Lightings market by Type (Lamps [A-Lamps, T-Lamps, Others] and Luminaires [Streetlights, Downlights, Troffers, Others]), Application (Commercial Offices, Hospitals, Education, Highway and Roadway, Hospitality, Residential and Others [Retail, Architectural, Public Places, Automotive]) and Region.
On the basis of geography, the market of LED Lightings has been segmented into South America (Brazil, Argentina, Chile, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Indonesia, Thailand, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Sweden, Belgium, Finland, Denmark, Russia, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the LED Lightings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Energy-Efficient Lighting Systems and Penetration of LEDs as A Light Source in General Lighting
Market Growth Drivers:
Increasing Demand for LED Lighting Due to the Modernization and Development of Infrastructure Such as Smart Cities and Reduction in Prices of LEDs
Challenges:
Lack of Common Open Standards
Restraints:
Lack of Awareness Regarding Installation Costs and Payback Periods
Opportunities:
Development of Wireless Technology for LED Lighting Systems and Increasing Demand from the Roadways in the Developing Countries
Market Leaders and their expansionary development strategies
June 2021- Syska announced the launch of new LED Lights under the ‘T5 LED Batten’ brand in India for only Rs 449 and Rs 549. Syska T5 LED Batten (PC) and Syska T5 LED Batten (AL) LED has surged the protection of 4KV and are installed with 440V OVP(Over Voltage protection).
In February 2021, Orient Electric Limited, part of the diversified USD 2.4 billion CK Birla Group,has launched its new range of Emergency LED lighting solutions which provide backup lighting for up to 4 hours during power outages. The range includes LED bulb, LED Batten, LED Recess Panel and Bulkhead which can be used as regular lighting source and when power cut happens, they automatically switch to emergency mode to light up your space thus enabling normal work activities to continue.
Key Target Audience
LED Lightings Manufacturer, LED Lightings Suppliers, LED Lightings Distributors, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.