Press release
Lighting Market Set to Illuminate with 3.82% CAGR by 2030
Lighting Product Market
The global lighting product market, valued at USD 123.08 billion in 2023, is projected to reach USD 166.51 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.82%.
This growth is driven by technological advancements, government initiatives promoting energy efficiency, and increasing consumer awareness of sustainable lighting solutions.
๐๐๐๐๐ฌ๐ฌ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ซ๐ข๐ ๐ก๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/11116/
๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
๐ณ๐ฌ๐ซ ๐ณ๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐ฝ๐๐๐๐๐๐:
Vietnam's LED lighting market has experienced substantial growth, reaching USD 723.74 million in 2024. It is expected to grow at a CAGR of 6.80%, reaching USD 1,397.32 million by 2034.
This expansion is attributed to government initiatives promoting energy-efficient lighting and increasing urbanization. Notably, ๐๐ก๐ข๐ฅ๐ข๐ฉ๐ฌ ๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ has introduced smart LED solutions tailored for the Vietnamese market, enhancing energy efficiency and user convenience.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ฌ๐๐๐๐๐-๐ฌ๐๐๐๐๐๐๐๐ ๐ณ๐๐๐๐๐๐๐ ๐๐ ๐ป๐๐๐๐๐๐๐ :
Thailand is witnessing a shift towards energy-efficient lighting solutions, driven by government policies and increasing environmental awareness. The adoption of LED technology is on the rise, with significant investments in infrastructure projects incorporating modern lighting systems. Companies like ๐๐๐๐๐ ๐๐ข๐๐ก๐ญ ๐๐ are actively participating in Thailand's lighting market, offering innovative products to meet the growing demand.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐บ๐๐๐๐ ๐ณ๐๐๐๐๐๐๐ ๐บ๐๐๐๐๐๐๐๐ ๐ ๐ฑ๐๐๐๐:
Japan's lighting market is embracing smart lighting solutions, integrating Internet of Things (IoT) technology for enhanced control and energy management. The market is supported by technological advancements and a strong emphasis on sustainability. ๐๐๐ง๐๐ฌ๐จ๐ง๐ข๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง is a key player, developing smart lighting systems that cater to both residential and commercial sectors.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ณ๐ฌ๐ซ ๐ณ๐๐๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐ ๐ฒ๐๐๐๐:
South Korea's LED lighting market is expanding, supported by government initiatives and technological innovation. The focus is on developing high-efficiency lighting products for various applications. ๐๐๐ฆ๐ฌ๐ฎ๐ง๐ ๐๐ฅ๐๐๐ญ๐ซ๐จ๐ง๐ข๐๐ฌ has made significant strides in LED technology, offering products that cater to both domestic and international markets.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐๐๐ ๐ณ๐๐๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐:
Singapore is adopting sustainable lighting solutions as part of its Smart Nation initiative. The emphasis is on integrating smart lighting systems in urban infrastructure to enhance energy efficiency. ๐๐ข๐ ๐ง๐ข๐๐ฒ ๐๐จ๐ฅ๐๐ข๐ง๐ (formerly Philips Lighting) is actively involved in providing smart lighting solutions in Singapore, contributing to the nation's sustainability goals.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ช๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐ ๐ณ๐๐๐๐๐๐๐ ๐ฐ๐๐ ๐๐๐๐๐ ๐๐ ๐ผ๐๐๐๐๐ ๐บ๐๐๐๐๐:
The U.S. lighting industry has seen significant consolidation, with major companies expanding their portfolios through mergers and acquisitions. In 2020, ๐๐ข๐ ๐ง๐ข๐๐ฒ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ ๐๐จ๐จ๐ฉ๐๐ซ ๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ for $1.4 billion, strengthening its position in the North American market and expanding its connected lighting offerings.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ณ๐ฌ๐ซ ๐ท๐๐๐ ๐๐๐๐๐๐ ๐๐ ๐ช๐๐๐๐:
China continues to be a leading producer of LED lighting products, with companies like ๐๐ง๐ข๐ฅ๐ฎ๐ฆ๐ข๐ง expanding their market presence. The acquisition of ๐๐ข๐ ๐ก๐ญ๐ก๐จ๐ฎ๐ฌ๐ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ has enabled Unilumin to extend its lighting business into the consumer domain, reflecting the dynamic nature of China's lighting industry.
๐ณ๐๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐บ๐๐๐๐ ๐๐๐ ๐บ๐๐๐๐๐๐๐๐๐๐ ๐ณ๐๐๐๐๐๐๐ ๐๐ ๐ฌ๐๐๐๐๐:
Europe's lighting market is focusing on smart and sustainable solutions, driven by stringent energy efficiency regulations and environmental concerns. Companies like ๐๐๐๐๐ ๐๐ข๐๐ก๐ญ ๐๐ are leading the way in developing innovative lighting technologies that cater to the evolving needs of the market.
๐๐ง๐ญ๐ซ๐ข๐ ๐ฎ๐๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐๐ง๐๐ฌ-๐จ๐ง ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/11116/
๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ ๐ท๐๐๐ ๐๐๐
LED tubes and bulbs
T8 LED tubes and bulbs
Others
LED Tubes & Bulbs, T8 LED tubes & bulbs, and Others (Incandescent, High Intensity Discharge) are the three product-based segments of the Lighting Product Market. The LED Tubes & Bulbs market is anticipated to expand at a compound annual growth rate (CAGR) between 2024 and 2030. The strict laws that forbid using inefficient light bulbs are to blame for this. Some local governments have passed laws that forbid using incandescent light bulbs for general illumination and require that they be replaced with more energy-efficient models. During the forecast period, these are the main advantages that are anticipated to support the expansion of the LED Tubes & Bulbs segment in the worldwide market.
๐๐ ๐ณ๐๐๐๐๐๐๐ ๐ญ๐๐๐๐๐๐
Ceiling Fixtures
Recessed Lighting Fixture
Strip Light Fixture
Others
The lighting product market is divided into four segments based on the kind of lighting fixture: ceiling fixtures, recessed lighting fixtures, strip light fixtures, and others (pendants, chandeliers, etc.). By 2030, the ceiling fixtures sector is anticipated to have the biggest market share. This is because interior illumination is widely used in homes, workplaces, hospitals, shopping centres, and educational institutions. Wall-mounted and ceiling-mounted indoor and outdoor lighting fixtures make the space more aesthetically pleasing and light. The availability of a variety of ceiling lighting fixture designs for both residential and commercial applications is anticipated to propel the growth of the ceiling fixtures market.
๐๐ ๐ฌ๐๐ ๐ผ๐๐
Residential
Commercial
Industrial
๐ ๐จ๐ซ ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐ฌ๐ญ๐ฎ๐๐ฒ, ๐ฏ๐ข๐ฌ๐ข๐ญ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/11116/
๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐๐ซ๐ค๐๐ญ, ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ซ๐:
North America
1. Home Depot (USA)
2. Lowe's (USA)
3. Target (USA)
4. Walmart (USA)
5. Bed Bath & Beyond (USA)
6. Sam's Club (USA)
7. Costco (USA)
8. Menards (USA)
9. Kim Lighting (USA)
10. Innovative Lighting (USA)
11. Cree (USA)
12. Baja Designs (USA)
13. Grote (USA)
14. Rigid Industries (USA)
15. DECO Lighting (USA)
16. BIOS (USA)
17. LSI Industries (USA)
Asia Pacific
18. Nichia (Japan)
19. Osram (Germany)
20. Brightlux (China)
21. Everlight (Taiwan)
22. Others
๐๐๐ญ๐๐ก ๐๐ฉ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐จ๐ฉ๐ข๐๐ฌ:
Industrial Truck Market: https://www.maximizemarketresearch.com/market-report/global-industrial-truck-market/89961/
Display Market https://www.maximizemarketresearch.com/market-report/global-display-market/22084/
Global Industrial Bakery Processing Equipment Market https://www.maximizemarketresearch.com/market-report/global-industrial-bakery-processing-equipment-market/90526/
Global Adsorption Equipment Market https://www.maximizemarketresearch.com/market-report/global-adsorption-equipment-market/39449/
Global Organic Baby Shampoo Market https://www.maximizemarketresearch.com/market-report/global-organic-baby-shampoo-market/72693/
Global Turbidimeter Market https://www.maximizemarketresearch.com/market-report/global-turbidimeter-market/87990/
Appendicitis Market https://www.maximizemarketresearch.com/market-report/appendicitis-market/221588/
Hardware Secure Module Adapters Market https://www.maximizemarketresearch.com/market-report/hardware-secure-module-adapters-market/200420/
Breathable Tape Market https://www.maximizemarketresearch.com/market-report/breathable-tape-market/187854/
Global Medication Management Market https://www.maximizemarketresearch.com/market-report/global-medication-management-market-key-trends/6547/
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