LED Lighting Market is anticipated to grow at a considerable CAGR of 9.5% during the forecast period (2024-2031). LED is a highly energy-efficient lighting technology. Residential LEDs — especially ENERGY STAR rated products — use at least 75.0% less energy, and last up to 25 times longer, than incandescent lighting. The growing energy demand globally is a key factor supporting the adoption of LED lightings; thereby aiding to the market growth.
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One of the most prominent factor propelling the global LED lighting market is the undeniable shift towards energy-saving lighting solutions. A growing focus on environmental sustainability and resource conservation has spurred a significant demand for lighting technologies that offer superior energy efficiency. Compared to traditional incandescent bulbs, LEDs boast a remarkable ability to deliver the same level of illumination while consuming a fraction of the energy. According to US Department of Energy, LED lighting technology is incredibly energy-efficient and has the power to drastically alter lighting in the US going forward. It is projected that most lighting installations will be LED-powered by 2035, and the yearly energy savings from LED lighting might surpass 569 TWh, which is the equivalent of more than 92 1,000 MW power plants.This translates to substantial cost savings on electricity bills for consumers and businesses alike. Furthermore, government’s regulations to phase out outdated, less efficient lighting options, further accelerate the shift towards LED lighting.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global LED Lighting Market by Product
- LED Lamps
- LED Fixtures
Global LED Lighting Market by End-User
- Commercial
- Residential
- Industrial
- Others (Transportation, Agriculture, and Outdoor Applications)
Global LED Lighting Market by Applications
- Indoor Lighting
- Outdoor Lighting
Global LED Lighting Market by Sales channel
- Direct
- Retail
- E-commerce
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East & Africa
Company Profiles
- Acuity Brands, Inc.
- Cree Lighting USA LLC
- Halonix Technologies Private Ltd.
- Hubbell Inc.
- LSI Industries Inc.
- Lumens Co., Ltd.
- Nanoleaf Canada Ltd.
- Qingdao Yeelink Information Technology Co., Ltd.
- Savant Systems, Inc.
- Siteco GmbH
- Syska Led Lights Pvt Ltd.
- Wipro Consumer Care and Lighting (Wipro Enterprises (P) Ltd.)
- Zumtobel Group AG
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the globalLED Lighting Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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