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In-Depth Analysis of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Size
The market size for industrial and commercial LED (light-emitting diode) lighting has witnessed a rapid expansion in the recent past. It is set to rise from $49.03 billion in 2024 to $58.73 billion in 2025, with a compound annual growth rate (CAGR) of 19.8%. This considerable growth observed during the historical period is due to the increasing preference of industries for LED lighting, a surge in demand for cost-saving illumination, the growing need for energy-efficient LED lighting, the rise of government initiatives encouraging LED adoption, and the escalating need to phase out traditional lighting systems.
The market for industrial and commercial LED lights is set to expand significantly in the forthcoming years, reaching a value of $119.4 billion in 2029 with a 19.4% CAGR. Possible reasons for this growth during the forecast period could include the falling cost of manufacturing LEDs, increased popularity in smart lighting systems, higher demand for LED light products, a surge in the construction of new buildings, and the effective use of mid-power LEDs for commercial indoor lightning. Key trends for this period are expected to be advancements in technology, increased industry investment in LED technology, further investment in modernizing infrastructure, the evolution of lighting technology, and fast-paced developments in the lighting industry.
What Are the Key Drivers Behind the Growth of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The surge in construction activities is predicted to spur the expansion of the industrial and commercial LED lighting market. These construction activities include a wide array of tasks related to the building, alteration, upkeep, and demolition of structures and infrastructure, and are fundamental for residential, commercial, industrial and civil engineering projects. This uptick in construction is a result of population growth, urbanization, economic progress, and the necessity for newer infrastructure as well as modern living and working environments. Industrial and commercial LED lighting plays a vital role in modern construction projects, providing efficient and sustainable lighting solutions that are also aesthetically pleasing for both indoor and outdoor applications. For example, data from the US Census Bureau indicates that in June 2024, the worth of construction activities elevated from $1,970.8 billion in 2023 to $2,099.0 billion in 2024, a growth of 10.0%. Hence, the growth in the construction of new buildings is fuelling the expansion of the industrial and commercial LED lighting market.
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Which Leading Companies Are Shaping the Growth of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
Major companies operating in the industrial and commercial light-emitting diode (LED) lighting market are Samsung Electronics Co. Ltd., Panasonic Corporation, Eaton Corporation plc, Koninklijke Philips N.V., Stanley Black & Decker Inc., Signify Holding B.V., Osram Licht AG, Hubbell Inc., Acuity Brands Inc., Havells India Ltd., Hafele Gmbh & Co., Zumtobel Group AG, Lutron Electronics Co. Inc., Thorn Lighting Ltd., Cree Lighting USA LLC, General Electric Lighting, Dialight plc, Progress Lighting, Siteco GmbH, Kichler Lighting LLC, WAC Lighting, LEDiL, Maxim Lighting International Inc., Csl Lighting Inc.
What Are the Major Trends Shaping the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
Leading corporations in the industrial and commercial LED lighting sphere are concentrating on establishing ground-breaking illumination solutions like LED grow lights. These lights offer unmatched power efficiency and superior light control needed for diverse industry and horticulture uses. As an example, in November 2023, a Denmark-based lights solution firm, LED iBond A/S, introduced their 2nd generation of LED grow lights, branded as LED iBond, purposely designed for industrial greenhouses, and in particular the HORTISABER LED grow lights. These contemporary LED grow lights promise significant energy efficiency, claiming to save energy up to 60% as opposed to conventional grow light lamps, an indispensable aspect for industrial greenhouses eager to optimize power usage and cut costs. Available in a 6-meter length, these new grow lights are ideal for expansive industrial greenhouses and facilitate a more productive utilization of space.
What Are the Key Segments of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The industrial and commercial light-emitting diode (LED) lighting market covered in this report is segmented -
1) By Product Type: LED Lamps, LED Fixtures
2) By Installation: New Installation, Retrofit
3) By Distribution Channel: Direct Sales, Wholesalers
4) By Application: Indoor Lighting, Outdoor Lighting
5) By End User: Commercial Offices, Retail, Hospitality And Leisure, Healthcare, Industrial, Architectural, Other End Users
Subsegments:
1) By LED Lamps: A-Type LED Lamps, Linear LED Lamps, PAR LED Lamps, Decorative LED Lamps
2) By LED Fixtures: Troffer LED Fixtures, High Bay LED Fixtures, Street LED Fixtures, Downlight LED Fixtures, Flood LED Fixtures
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Which Region Dominates the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
North America was the largest region in the industrial and commercial light-emitting diode (LED) lighting market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the industrial and commercial light-emitting diode (LED) lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Industrial And Commercial Light-Emitting Diode (LED) Lighting Global Market Report?
- Market Size Analysis: Analyze the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial And Commercial Light-Emitting Diode (LED) Lighting Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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