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Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Industrial And Commercial Light-Emitting Diode (LED) Lighting
What Is the Projected Growth of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The industrial and commercial light-emitting diode (LED) lighting market size has grown rapidly in recent years. It will grow from $49.03 billion in 2024 to $58.73 billion in 2025 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to the growing popularity of LED lighting among industries, rising demand for various cost-saving lighting, rise in demand for energy-efficient LED lighting, increase in government programs to adopt LEDs, and rising necessity to replace conventional lighting systems.
The industrial and commercial LED lighting market is projected to grow to $119.4 billion by 2029, at a CAGR of 19.4%. This growth is attributed to the declining manufacturing cost of LEDs, demand for intelligent lighting systems, and the growing construction of new structures. Trends include the evolution of lighting technologies, increased investment in industry-grade LED technologies, and the development of high-efficacy mid-power LEDs.
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What Are the Different Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Segments?
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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What Are the Primary Drivers Shaping the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
The rise in construction activities is expected to propel the growth of the industrial and commercial LED lighting market. The increase in construction activities is driven by population growth, urbanization, and economic development. LED lighting solutions are critical in construction projects due to their efficiency, sustainability, and aesthetic appeal. The U.S. Census Bureau reported a significant increase in construction spending in 2024, which is expected to continue driving demand for industrial and commercial LED lighting solutions across residential, commercial, and industrial projects.
Which Companies Are Leading in 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 Latest Developing Trends in the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
Major industry players in the industrial and commercial LED lighting market concentrate their efforts on innovation in lighting solutions, such as LED grow lights. These advancements aim to offer leading-edge energy efficiency and superior light management for diverse industrial and horticultural uses. For example, Denmark's LED iBond A/S, a pioneer in lighting solutions, launched its 2nd generation LED grow lights, LED iBond, in November 2023. This product, specifically the HORTISABER LED grow lights, is geared towards industrial greenhouses. They provide considerable energy savings, up to a whopping 60% compared to conventional grow light lamps - a vital factor for industrial greenhouses aiming to streamline energy use and cut down costs. These new grow lights come in a 6-meter length, making them ideal for larger-scale industrial greenhouses and allowing for more effective space utilization.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
2. What is the CAGR expected in the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
3. What Are the Key Innovations Transforming the Industrial And Commercial Light-Emitting Diode (LED) Lighting Industry?
4. Which Region Is Leading the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market?
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