What's driving the Lighting Market Growth? Prominent Players: Top Players in Lighting Market are Cree Inc., Panasonic Corporation, GE Lighting, LED Leader USA, OSRAM Licht AG, Koninklijke Philips N.V., LEDtronics, Inc., CITIZEN ELECTRONICS CO., LTD., Have

The Report, titled “Lighting Market Size, Share and Industry Analysis, By Lighting Type (LEDs, CFLs, LFLs, HIDs, Halogens and Incandescent), By Application (General Lighting, Automotive Lighting, Backlighting, Others), by End User (Residential, Commercial and Industrial) and Regional Forecasts, 2019-2026”, The Global Lighting Market value in 2018 stood at USD 115.44 billion. in addition to this, it also contains a detailed analysis of the different factors and dynamics that will influence the market during the forecast period.

The global Lighting Market is set to reach USD 115.58 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period

Having generated a revenue of USD 54.5 billion in 2018, Asia-Pacific is expected to continue its impressive performance in the global lighting market during the forecast period. The main reason for the region’s growth is the rapid urbanization in China and India where construction activities are being driven by a soaring demand for affordable housing.

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These countries are actively promoting the adoption of LED lighting to reduce carbon emissions. Huge investments in manufacturing are anticipated to drive the market in the Middle East and Africa, whereas moderate growth is expected in Latin America owing to lower level of economic development.

Asia-Pacific to Register the Best Growth Figures

Having generated a revenue of USD 54.5 billion in 2018, Asia-Pacific is expected to continue its impressive performance in the global lighting market during the forecast period. The main reason for the region’s growth is the rapid urbanization in China and India where construction activities are being driven by a soaring demand for affordable housing. These countries are actively promoting the adoption of LED lighting to reduce carbon emissions. Huge investments in manufacturing are anticipated to drive the market in the Middle East and Africa, whereas moderate growth is expected in Latin America owing to lower level of economic development.

Some of the leading companies Mentioned in the Global Lighting Market are –

Cree, Inc.
Panasonic Corporation
GE Lighting
LED Leader USA
OSRAM Licht AG
Koninklijke Philips N.V.
LEDtronics, Inc.
CITIZEN ELECTRONICS CO., LTD.
Havells India Ltd.

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Market Segmentation Of Global Lighting Market –

1. By Type
Screw Chillers
Scroll Chillers
Centrifugal Chillers
Others

2. By Application
Chemicals & Petrochemicals
Food & Beverages
Plastics
Rubber
Medical and Others

3. By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, and Rest of Europe)
Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)

The most vital advantage of using LED lighting are its environmental benefits. For example, LED bulbs do not contain harmful mercury. Further, LED lights are extremely energy efficient, a claim that was authenticated in 2012 when the US saved close to USD 675 million, after installing around 49 million LED lights across the country. By 2030, the US aims to have 75% lighting through LEDs, which will result in reducing carbon emissions by 1800 million metric tons. This will result in higher adoption of LED technology in lighting and expand the global lighting market size during the forecast period.

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