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Key Trends Reshaping the Industrial And Commercial LED Lighting Market: Technological Advancements Enhance Industrial And Commercial Applications With Smart Lighting Systems Industry Transformation
Industrial And Commercial LED Lighting Market
Industrial And Commercial LED Lighting Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size of industrial and commercial led lighting has witnessed tremendous growth. This market is predicted to escalate from $64.36 billion in 2024 to $77.98 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 21.1%. The increase during the historic period can be credited to initiatives related to energy efficiency and sustainability, government policies and incentives, decrease in LED production cost, sustainability in terms of longevity and low maintenance costs, and growing cognizance about lighting quality.
How Will the Industrial And Commercial LED Lighting Market Size Evolve and Grow by 2029?
The market for industrial and commercial led lighting is slated to experience a significant surge in size in the coming years, with a projected worth of $165.32 billion in 2029, yielding a compound annual growth rate (CAGR) of 20.7%. This growth for the forecast period can be linked to factors such as the rising emphasis on smart cities, integration of the Internet of Things (IoT) into lighting systems, trends towards human-centric lighting, retrofitting of traditional lighting systems, and the demand for unique customization and design flexibility. Prominent trends during this period will feature technological advancements in LED lighting, fast-paced adoption of smart lighting systems, shift towards human-centric lighting, advanced lighting controls, and integration of li-fi.
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What Drivers Are Propelling the Growth of Industrial And Commercial LED Lighting Market Forward?
The rising trend of new construction and renovation of current buildings is a significant catalyst for the growth in the commercial and industrial LED lighting market. The surge in new construction can be attributed to factors such as economic advancement, housing necessity, industrial progress, and more. Meanwhile, renovation of existing structures is on the rise due to a number of factors including safety considerations, replacement needs, and improvement of existing facilities. Both the building of new structures and the renovation of old ones necessitate the use of new materials and items, among which LED lighting plays a vital role. This will entail a substantial demand for LED lighting in commercial and industrial settings. For instance, the recent residential construction data from the US Census Bureau and the US Department of Housing and Urban Development in February 2022 show that privately-owned housing starts rose by 6.8% from January's revised estimate of 1,657,000 to reach 1,769,000. This marks an increase of 22.3% when compared to 1,447,000 housing starts in February 2021. Consequently, the escalating pace of new structure construction and existing building renovation is anticipated to stimulate the growth of the commercial and industrial LED lighting market.
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Which Emerging Trends Are Transforming the Industrial And Commercial LED Lighting Market in 2025?
Leading entities in the industrial and commercial LED lighting sector are launching novel products such as smart lighting systems to promote energy conservation and user control. Smart lighting encompasses lighting infrastructures that can be automated and manipulated remotely, typically incorporating IoT technology to modify brightness, hue, and schedules as per user's choice or environmental parameters. For example, in May 2023, URC (Universal Remote Control), a United States-based company renowned for its smart home automation and control systems, introduced URC Lighting LT-3300. This LED lighting solution features smart lighting that facilitates the installer to choose between a dimmer or switch setup and easily program to craft distinctive atmospheres for recreation or peaceful family gatherings. It's auto load detection function streamlines installation by removing the requirement to arrange neutral or non-neutral wiring formations, making it adaptable for a range of electrical surroundings. The device is equipped with a trailing-edge, vivid LED bar that provides visual signals for notifications and scheduled actions, boosting user engagement.
What Are the Key Segments in the Industrial And Commercial LED Lighting Market?
The industrial and commercial 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: Direct Sales, Online Stores, Specialty Stores, Other Distribution Channels
4) By Application: Retail, Manufacturing, Hospitality, Warehouses And Storage, Office Buildings, Other Applications
Subsegments:
1) By LED Lamps: A-Type LED Lamps, Flood LED Lamps, Tube LED Lamps, Specialty LED Lamps
2) By LED Fixtures: Panel LED Fixtures, High Bay LED Fixtures, Downlight LED Fixtures, Street LED Fixtures, Wall-Mounted LED Fixtures
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Who Are the Key Players Shaping the Industrial And Commercial LED Lighting Market's Competitive Landscape?
Major companies operating in the industrial and commercial LED lighting market include Samsung Electronics Co. Ltd., General Electric Company, Panasonic Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Koninklijke Philips NV, Emerson Electric Co., Wipro Ltd., Legrand S.A., Signify N.V., Osram Licht AG, Hubbell Incorporated, ams-OSRAM AG, Acuity Brands Inc., Stanley Electric Co. Ltd., Havells Ltd., Leviton Manufacturing Company Inc., Zumtobel Group, IDEAL INDUSTRIES INC., Lutron Electronics, The Jaquar Group, Syska Hennessy Group, Dialight plc, Digital Lumens Inc., Deco Lighting Inc., Litetronics International Inc., Current Lighting Solutions LLC
What Geographic Markets Are Powering Growth in the Industrial And Commercial LED Lighting Market?
Asia-Pacific was the largest region in the industrial and commercial LED lighting market in 2024. The regions covered in the industrial and commercial LED lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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