[Published Market Report] LED Lamps Market Size, Share, & Forecast 2023-2030 The global LED Lamps market is expected to reach US$ 13.6 billion by 2030, with an annual growth rate of more than 12.9%.

According to RationalStat's recent industry analysis, the Global LED Lamps Market value is estimated at US$ 5.8 billion in 2023 and is expected to rise at a strong CAGR of over 12.9% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

A Light Emitting Diode (LED) lamp is a type of solid-state lighting device that uses light-emitting diodes as the source of illumination. LED lamps are energy-efficient, long-lasting, and environmentally friendly alternatives to traditional incandescent and fluorescent lamps.

LED lamps are highly energy-efficient, consuming significantly less electricity than traditional lighting technologies. This characteristic is crucial as energy efficiency becomes a top priority for individuals, businesses, and governments seeking to reduce energy consumption and lower electricity bills.

According to a deep-dive market assessment by RationalStat, the global LED Lamps market has been analyzed on the basis of market segments, including product type, technology, application, distribution channel and
geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global LED Lamps market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview,
components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global LED Lamps market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global LED Lamps Market: Segmental and Market Share Analysis

• On the basis of application, residential segment is growing worldwide which increased demand for floor lamps, cabinet lights etc. It is projected that advancements in LED efficiency will aid in the growth of the target market.

Report Synopsis

Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 5.8 billion
Market Size Forecast US$ 13.6 billion
Growth Rate 12.9%
Dominant Segment Residential
Dominant Region Asia Pacific

Key Market Drivers
• Rising demand for energy-efficient lighting solutions
• Increased adoption of smart lighting solutions

Companies Profiled
• Philips
• Osram Lighting
• Samsung Electronics
• Cree Lighting
• Panasonic Corporation
• LG Inc
• Innotek
• Nichia Corporation
• ELCO Lighting
• Nora Lighting
• DMF Lighting
• JESCO Lighting Group LLC

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In July 2023, Zumtobel expanded its product offering with two intelligent lighting technology systems and three additional luminaires. The TRAMAO pendant luminaire for hotels and businesses, which effectively absorbs sound while providing the highest light quality, is one of these cutting-edge options, as is the SLOTLIGHT infinite II light line family.

• In May 2023, Dialight introduced an industry-leading 7-year warranty for Aviation Obstruction Lighting Solutions. This programme demonstrated the company's dedication to customer happiness as well as product quality in the LED lighting sector.

Some of the prominent players and suppliers operating and contributing significantly to the global LED Lamps market growth include Philips, Osram Lighting, Samsung Electronics, Cree Lighting, Panasonic Corporation, LG Inc, Innotek, Nichia Corporation, ELCO Lighting, Nora Lighting, DMF Lighting, and JESCO Lighting Group LLC, among others.

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RationalStat has segmented the global LED Lamps market based on product type, technology, application, distribution channel and region
• Global LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Product Type
o A-Type Lamps
o MR16 Lamps
o PAR Lamps
o T-Type Lamps
• Global LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Technology
o Basic LED
o Smart LED
• Global LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
o Residential
o Commercial
o Industrial
o Outdoor
• Global LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Distribution Channel
o Online Retailers
o Direct Sales
o Wholesale/Retail
o Specialty Lighting Stores
• Global LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa LED Lamps Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the LED Lamps Report:
• What will be the market value of the global LED Lamps market by 2030?
• What is the market size of the global LED Lamps market?
• What are the market drivers of the global LED Lamps market?
• What are the key trends in the global LED Lamps market?
• Which is the leading region in the global LED Lamps market?
• What are the major companies operating in the global LED Lamps market?
• What are the market shares by key segments in the global LED Lamps market?

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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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