Press release
LED Lighting Market Valued at USD 62.56 Billion in 2023, Expected to Grow by 9.5% Annually, Reaching Nearly USD 118.09 Billion by 2030
LED Lighting Market
Global LED Lighting Market size was valued at USD 62.56 Bn. in 2023 and the total LED Lighting revenue is expected to grow by 9.5 % from 2024 to 2030, reaching nearly USD 118.09 Bn.
LED Lighting Market Overview:
The global LED lighting market, valued at USD 62.56 billion in 2023, is set for significant expansion. Forecasts indicate a robust growth trajectory, with revenue expected to increase by 9.5% annually from 2024 to 2030, reaching nearly USD 118.09 billion. This growth is fueled by technological advancements, rising energy efficiency awareness, and supportive government regulations promoting sustainable lighting solutions.
๐๐๐ญ ๐ ๐ซ๐๐ ๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐๐ฎ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/15214/
LED Lighting Market Trends:
The LED lighting sector has witnessed remarkable growth driven by several key trends. The integration of smart lighting with IoT technology allows for advanced features such as remote control and customization via smartphones. Moreover, LEDs are at the forefront of energy efficiency and sustainability, with innovations such as graphene-coated LEDs further enhancing their performance. Human-centric lighting, which supports health and well-being, and advanced applications in agriculture are also gaining traction. Additionally, the rise of UV-C LEDs for disinfection purposes reflects the market's adaptability to emerging needs.
What are LED Lighting Market Dynamics?
The market's expansion is underpinned by favorable government initiatives and regulations that encourage the adoption of energy-efficient LED lighting. These regulations aim to phase out less efficient lighting technologies in favor of LEDs, which offer substantial energy savings and longevity. For instance, the US Department of Energy highlights that ENERGY STAR-rated LEDs use 75% less energy and last 25 times longer than traditional incandescent bulbs. By 2035, LEDs are projected to achieve energy efficiency gains equivalent to the output of over 92 power plants.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐ ๐ซ๐๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/inquiry-before-buying/15214/
LED Lighting Market Opportunities:
The horticulture sector presents a significant growth opportunity for the LED lighting market. LEDs are increasingly used in controlled environment agriculture, including greenhouses and vertical farms, due to their ability to provide precise light spectra that enhance plant growth. Their energy efficiency and cost-effectiveness make them a preferred choice for indoor farming operations, opening new avenues for market expansion.
What is LED Lighting Market Regional Insight?
In the Asia-Pacific region, rapid urbanization and economic growth are driving demand for advanced LED lighting solutions. Countries like China, India, and those in Southeast Asia are experiencing increased demand for energy-efficient lighting as part of broader infrastructure and modernization efforts. The region's growing environmental awareness and the shift towards sustainable practices further bolster the LED market. Additionally, rising labor costs in China and a strengthening Yuan create opportunities for LED component manufacturing in India, enhancing the competitiveness of Indian LED products for both domestic and export markets.
๐๐๐ญ ๐๐ง ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐ ๐๐ก๐ ๐๐ง๐๐ข๐ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ ๐๐ก๐ข๐ฌ ๐๐ข๐ง๐ค (๐๐๐ญ ๐๐ก๐ ๐๐ข๐ ๐ก๐๐ซ ๐๐ซ๐๐๐๐ซ๐๐ง๐๐ ๐ ๐จ๐ซ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐ฆ๐๐ข๐ฅ ๐๐): -https://www.maximizemarketresearch.com/request-sample/15214/
What is LED Lighting Market Segmentation?
by Product Type
Lamps
A-Type
T-Type
Others
Luminaires
Downlighting
Decorative Lighting
Directional Lighting
Others
by Installation
New
Retrofit
Some of the current players in the LED Lighting Market are:
North America
1. SMART Global Holdings
2. Principal LED
3. ALLED Lighting Systems
4. CRS Electronics
5. Dals Lighting
Europe
6. Eaton Corporation Plc - Ireland
7. Zumtobel Group AG - Austria
8. dialight plc- united kingdom
9. Phillips Lighting N.V - Netherlands
10. OSRAM Licht AG - Germany
11. Lumileds Lighting
12. Collingwood Lighting
๐๐ง๐จ๐ฐ ๐๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/market-report/global-led-lighting-market/15214/
Key Offerings:
Past Market Size and Competitive Landscape
LED Lighting Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
LED Lighting Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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