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Unlocking Opportunities in the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market: 2025-2034 Forecast Report
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Size
What Will the Industrial And Commercial Light-Emitting Diode (LED) Lighting Industry Market Size Be by 2025?
The market size for industrial and commercial LED lighting has seen swift growth in the recent past. The projected figures suggest an increase from $49.03 billion in 2024 to $58.73 billion in 2025, with a compound annual growth rate (CAGR) of 19.8% being expected. This growth during the historic period has been influenced primarily by an escalating favorability towards LED lighting in industrial sectors, surge in demand for cost-effective lighting options and energy-efficient LED lights, growth in government initiatives promoting the use of LEDs, along with the pressing need to replace traditional lighting systems.
What's the Long-Term Growth Forecast for the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Size Through 2029?
In the forthcoming years, the market size of the industrial and commercial LED lighting sector is predicted to experience a swift surge. It is forecasted to reach $119.4 billion by 2029, escalating at a Compound Annual Growth Rate (CAGR) of 19.4%. This increase in the forecast period can be credited to several factors such as the decreasing production cost of LEDs, heightened demand for smart lighting systems and LED illumination products, rising structure construction, and the effective utilization of mid-power LED for commercial indoor lighting needs. Notable evolving trends in this period consist of enhancements in technology, augmentation in investments within the LED industry technologies, substantial investments in infrastructure modernisation, the evolution of lighting technologies, and the swift advancement in illumination technology.
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What Are the Key Growth Drivers Fueling the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Expansion?
The surge in construction activities is anticipated to drive the expansion of the commercial and industrial LED lighting market. Tasks involved in development, alteration, preservation, and destruction of structures and infrastructure form integral parts of construction activities. These tasks significantly contribute to the establishment of residential, commercial, industrial, and civil engineering projects. Factors such as population growth, urbanization, and economic development, along with the demand for updated infrastructure and modern live and work spaces, fuel the proliferation of construction activities. The role of commercial and industrial LED lighting is critical in modern construction projects, providing effective, sustainable, and aesthetically satisfying lighting solutions for both interior and exterior uses. For example, in June 2024, according to the US Census Bureau, a US-based government agency, construction activities value escalated from $1,970.8 billion in 2023 to $2,099.0 billion in 2024, marking a growth rate of 10.0%. Consequently, the escalating construction of new establishments is fuelling the expansion of the commercial and industrial light-emitting diode (LED) lighting market.
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What Are the Key Trends Driving Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Growth?
Top-tier firms in the industrial and commercial LED lighting market prioritize innovative lighting solutions like LED grow lights, which boast high energy efficiency and sophisticated light management for a range of industry and horticultural uses. For example, in November 2023, LED iBond A/S - a Denmark-based lighting solutions firm - unveiled the second generation of its LED grow lights, the HORTISABER LED grow lights, specifically catered for industrial greenhouses. These new LED grow lights generate substantial energy savings of up to 60% in comparison to conventional grow light lamps, a vital aspect for industrial greenhouses seeking to minimize energy usage and cut expenses. These new grow lights, available in a 6-meter length, are perfectly tailored for larger industrial greenhouses, facilitating a more effective utilization of space.
How Is the Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Segmented?
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 Companies Are Leading the Charge in Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Innovation?
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.
Which Regions Are Leading the Global Industrial And Commercial Light-Emitting Diode (LED) Lighting Market in Revenue?
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.
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