Global LED Lighting Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global LED Lighting Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global LED lighting market report has been segmented on the basis of product type, service, end user, application, and region.
Global LED Lighting Market: Overview
LED stands for Light Emitting Diode, which is a semiconductor device that engage in converting electricity into light. LED lighting is an energy-efficient and rapidly-developing lighting technologies usually mounted on the ceilings in order to offer general illumination.
Global LED Lighting Market: Dynamics
Increasing adoption of LED lights globally, owing to its cost efficiency and energy-efficient nature is one of the key factor expected to drive growth of the global market. Increasing concern over reduction of non-renewable sources of power coupled with declining prices of LED products are some of the factors expected to fuel growth of the target market. In addition, continuous research and development activities in lighting technology in order to offer energy efficient and compact lighting systems is another major factor expected to propel growth of the target market. Government authorities in various countries are offering subsidies to manufacturers in order to increase the adoption of energy efficient lighting products including LED, OLED, etc. which is a factor expected to augment target market growth. Moreover, introduction of LightSavers program undertaken by The Climate Group are expected to trigger the substitution of conventional lighting solutions.
However, stringent regulations of government authorities regarding manufacturing of LED lights and high cost associated with installation of advanced lighting system are some factors may hamper growth of the global market. Moreover, high initial investment is another factor expected to challenge growth of the target market.
Global LED Lighting Market: Segment Analysis
Among the product type segments, the LED bulb segment is expected to register highest revenue share over the next 10 years.
Among the service type segments, the installation segment is expected to register significantly higher market share, owing to rising demand for energy-efficient lighting solution.
Among the end user segments, the commercial segment is expected to account for significant shares in the global market, in terms of revenue, owing to increasing commercial infrastructural development activities.
Among the application segments, the outdoor segment is projected to contribute significant revenue shares in global market.
Global LED Lighting Market: Regional Analysis
North America and Europe LED lighting markets are projected to account for majority of revenue shares in the target market over the forecast period. This is primarily attributed to, strong presence of advanced infrastructure in the various countries in the region. Moreover, increasing renovation or remodeling activities among residential and commercial buildings in order to add an aesthetic look and change lighting systems is another factor expected to propel growth of the target market.
LED lighting market in Asia Pacific is expected to fuel growth of the target market, owing to growing infrastructural development activities in emerging economies including India and China. In addition, rising demand for energy efficient lighting solution among various end users including construction, healthcare, residential, etc. is a key factor projected to support revenue growth of the target market in the region. Markets in the Middle East & Africa and Latin America are expected to register considerable growth over the forecast period.
Global LED Lighting Market Segmentation:
Segmentation by Product Type:
- LED Bulbs
- LED Fixtures
- Bare LED Tubes
- LED Down lights
Segmentation by Service Type:
- Installation Services
- Consulting Services
- Maintenance & Support
Segmentation by End-User:
Segmentation by Application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Philips Lighting Holding B.V.
- Osram Licht AG
- GE Lighting
- LG Innotek
- Samsung Electronics Co. Ltd.
- Cree, Inc.
- Cooper Industries, Inc.
- Dialight PLC
- Seoul Semiconductor
- Sharp Corporation
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