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LED Lighting Market worth $174.60 billion by 2030, growing at a CAGR of 11.13% - Exclusive Report by 360iResearch
LED Lighting Market | 360iResearch
The Global LED Lighting Market to grow from USD 83.39 billion in 2023 to USD 174.60 billion by 2030, at a CAGR of 11.13%.
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The LED (light emitting diode) lighting market encompasses developing, manufacturing, and selling energy-efficient, environmentally friendly, and long-lasting light sources. The market is primarily driven by applications in various sectors, including residential, commercial, industrial, outdoor, and automotive lighting. Growing stringent government regulations favoring energy-efficient alternatives, such as LEDs, led to increased adoption rates among consumers and businesses. Moreover, the rising preference for LEDs in SUVs and premium vehicles and demand for LED lighting in outdoor applications is driving the market growth. High initial costs associated with product acquisition and installation often deter potential customers from switching to LED lighting solutions. Discrepancies in product quality due to irregular manufacturing processes can also hinder consumer confidence in LED products. Technological advancements in LED lighting resulting in improved product performance are expected to support growth in the market. Furthermore, growth in infrastructure development coupled with investment in smart city projects presents lucrative opportunities for companies operating within this sector.
The Americas region has been an early adopter of LED technology, driven by stringent government regulations and consumer awareness about energy efficiency. The United States is the largest market for LED lighting in this region due to supportive federal policies such as the Department of Energy's Energy Star program, which encourages consumers to opt for more energy-efficient products. In Latin America, key markets such as Brazil and Argentina are witnessing a transition towards LEDs due to increasing electricity prices and growing environmental concerns. Europe leads this growth with the European Union implementing strict regulations such as the ErP Directive 2009/125/EC that mandates energy-efficient product designs, including requirements for 'phase-out' of incandescent bulbs. Middle East and Africa markets are witnessing an upsurge in demand for energy-efficient solutions due to rapid urbanization, causing strain on power infrastructure & a growing focus on sustainability practices. The APAC region is witnessing significant growth in the LED lighting market owing to rapid urbanization and increasing demand for energy-efficient solutions. Additionally, the growing smart city initiatives across the region drive demand for connected LED lighting systems that enable improved energy management.
Market Segmentation & Coverage:
This research report categorizes the LED Lighting Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Lamps and Luminaires. The Lamps is further studied across A-type and T-Type. The Luminaires is further studied across Downlights, Streetlights, and Troffers. The Lamps is projected to witness significant market share during forecast period.
Based on Installation, market is studied across New and Retrofit. The Retrofit is projected to witness significant market share during forecast period.
Based on Application, market is studied across Indoor and Outdoor. The Outdoor is projected to witness significant market share during forecast period.
Based on Sales Channel, market is studied across Offline and Online. The Offline is projected to witness significant market share during forecast period.
Based on End Use, market is studied across Commercial, Industrial, and Residential. The Commercial is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.57% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the LED Lighting Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the LED Lighting Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the LED Lighting Market, highlighting leading vendors and their innovative profiles. These include Acuity Brands, Inc., ams-OSRAM International GmbH, Apollo Lighting Ltd., Bridgelux, Inc., Dialight PLC by Roxboro Group PLC, Digital Lumens, Inc., Eaton Corporation PLC, Everlight Americas, Inc., Feit Electric, Havells India Limited, Ledure Lightings Limited, LSI Industries Inc., Nichia Corporation, Olympia Lighting, Panasonic Corporation, Polycab India Limited, ROHM Co, Ltd., Samsung Electronics Co., Ltd., Savant Systems, Inc., Seoul Semiconductor Co., Ltd., Signify Holding, Siteco GmbH, Syska Led Lights Pvt Ltd, Technical Consumer Products, Inc., US LED, Ltd., Wipro Limited, and Zumtobel Lighting GmbH.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. LED Lighting Market, by Product
7. LED Lighting Market, by Installation
8. LED Lighting Market, by Application
9. LED Lighting Market, by Sales Channel
10. LED Lighting Market, by End Use
11. Americas LED Lighting Market
12. Asia-Pacific LED Lighting Market
13. Europe, Middle East & Africa LED Lighting Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the LED Lighting Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the LED Lighting Market?
3. What is the competitive strategic window for opportunities in the LED Lighting Market?
4. What are the technology trends and regulatory frameworks in the LED Lighting Market?
5. What is the market share of the leading vendors in the LED Lighting Market?
6. What modes and strategic moves are considered suitable for entering the LED Lighting Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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