Press release
LED Lights Global Market Report: Growth, Market Size, Competition Status, Forecast 2024-2030
The global LED Lights market is projected to grow from US$ 34020 million in 2024 to US$ 45850 million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
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LED Lighting Market Summary
The global LED lighting market size is about US$23.728 billion in 2023 and is expected to reach US$28.339 billion in 2030, with a compound annual growth rate (CAGR) of 3.75% during 2024-2030. This growth is mainly due to the global emphasis on energy conservation and environmental protection. As a high-efficiency, low-energy lighting solution, LED lighting is gradually replacing traditional lighting products. Against this background, the LED lighting industry has ushered in new opportunities, especially with increasing investment in sustainable development and smart lighting. At the same time, with the advancement of technology, the cost of LED products has gradually decreased, making them more competitive in the market.
At the regional level, the Chinese market has changed rapidly in the past few years. The market size in 2023 is 5.454 billion US dollars, accounting for 22.99% of the world. It is expected to reach 6.692 billion US dollars in 2030, and the global share will reach 23.61%. This growth reflects China's continuous progress in the research and development of LED lighting technology and market application, especially in the fields of smart home and urban lighting. The rapid growth of the Chinese market has also attracted more and more international manufacturers to invest and cooperate, further promoting the development of the industry.
However, the global LED lighting market also faces many challenges. In 2023, the industry faces dual pressures from the international and domestic environment. The instability of the international market, rising energy prices, rising freight rates in Asia and Europe, and global inflation caused by interest rate hikes in Europe and the United States have all dealt a heavy blow to the export of the LED lighting industry. In addition, the domestic market is also affected by the real estate regulation policy, and the weak market demand has limited the growth of the lighting industry. Under the combined effect of this series of factors, the industry is facing unprecedented difficulties and challenges.
In the increasingly competitive LED lighting terminal market, the replacement market is gradually shrinking, resulting in the risk of increased inventory pressure on enterprises. As the life of LED lighting products increases, many consumers no longer frequently replace lighting equipment, resulting in a decline in market demand. In addition, the improvement of the automation level of the lighting industry has lowered the threshold for expansion, leading to an increase in the number of listed companies in China, which has led to the problem of overcapacity. Faced with the decline in demand from international and domestic end customers, the industry has been under increasing pressure to destock, and the prices of LED lighting products have continued to fall, further weakening the profitability of the market.
Despite many challenges, the LED lighting market still shows strong development potential. First, with the global emphasis on energy conservation and emission reduction and the strengthening of policy support, the market demand for LED lighting as an efficient and environmentally friendly lighting solution will continue to grow. In particular, driven by smart lighting and Internet of Things (IoT) technologies, LED lighting will be closely integrated with smart home and smart city construction to create new market opportunities. Secondly, the technological innovation and diversification of LED lighting products will also drive the development of the market. In the future, smart lighting products will become more popular, and consumers' demand for personalized and intelligent lighting products will continue to increase. Manufacturers need to increase R&D investment and launch smart lighting solutions that better meet market demand, such as products that support voice control, dimming and color temperature adjustment.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The LED Lights market is segmented as below:
By Company
OSRAM
HELLA
Koito
Stanley
Philips
Valeo
Imasen Electric
Texas Instruments
Nichia
GE
Cree
Cooper
EPISTAR
Magneti Marelli
Hyundai Mobis
Segment by Type
Lamps
Luminaries
Segment by Application
Residential
Office
Industrial
Shop
Hospitality
Outdoor
Others
Each chapter of the report provides detailed information for readers to further understand the LED Lights market:
Chapter 1: Introduces the report scope of the LED Lights report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of LED Lights manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various LED Lights market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5: Sales, revenue of LED Lights in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6: Sales, revenue of LED Lights in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth LED Lights competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides LED Lights comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides LED Lights market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Global LED Lights Market Research Report 2024
Global and China LED Lighting Market Report & Forecast 2024-2030
LED Lighting- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global LED Lighting Market Insights, Forecast to 2030
Global LED Lighting Market Research Report 2024
Global LED Lighting Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global LED Lighting Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
LED Lighting - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global RGB LED Light Market Insights, Forecast to 2030
Global COB LED Light Market Insights, Forecast to 2030
Global LED Light Box Market Insights, Forecast to 2030
Global LED Light Bar Market Insights, Forecast to 2030
LED Light Box - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global LED Light Bar Market Research Report 2024
Global COB LED Light Market Research Report 2024
RGB LED Light - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global LED Light Box Market Research Report 2024
Global LED Light Tube Market Insights, Forecast to 2030
Global LED Light Cups Market Insights, Forecast to 2030
Global LED Light Cups Market Research Report 2024
Contact Us:
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About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years' experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting (data is widely cited in prospectuses, annual reports and presentations), industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let's work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
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