How Is Global Led Lighting Market Positioned?
Overview: Global LED lighting market has witnessed a rapid growth over the recent past.
The market is currently at the growth stage and the growth is attributed to the increase in government interventions along with boom in construction industry in various regions.
The LED penetration in the global world has reached to ~% in 2019 from ~% in 2014. It has successfully penetrated the commercial sector and the usage is increasing in the residential and industrial sector.
Connected lighting systems are anticipated to emerge as one of the most critical components of the smart city infrastructure by contributing largely to the sustainability goals of the projects which will drive the growth of LEDs.
Market: The global LED lighting market witnessed a growth of CAGR ~% during 2014-2020 in terms of value. The market is witnessing strong growth owing to declining prices from $~ in 2014 to $~ in 2019.
Engagement by the governments of developed economies (UK & US) and emerging economies (India & China) in the promotion of LED lighting products by providing the tax incentives and subsidies for these product along with rapid enhancement in technology and decreasing ASP are playing a significant role in the growth of the market. Smart buildings will accelerate the adoption of smart lighting more than any other segment.
Global LED Lighting Market Segmentation
By Type: Luminaires dominate the global LED lighting market, contributing a share of ~% to the total revenues in 2020P followed by Lamps that held a share of ~%. The availability of wide product variants has added to the increased revenues from luminaires.
By Type of LED Luminaires: The increasing use of LED Troffers for both residential and commercial purposes has made this segment dominate the luminaires market with a revenue share of ~% in 2020P followed by Downlights and Highbay with ~% and ~% respectively.
By Type of LED Lamps: The LED A- lamps segment is dominating the market with a revenue share of ~% in the year 2020P; however, the LED tubes segment is expected to grow at a high CAGR in the forecasted period.
By Usage: The indoor LED lighting segment is dominating the market with majority revenue share in 2020P; however, the outdoor LED lighting segment is expected to grow at a high CAGR.
By Sector: Residential lighting segment has witnessed high growth due to the adoption of LED A-type lamps but commercial application continues to lead the market applications. Increased awareness among the customers regarding energy saving benefits of LED lights has been a major driver for the increased application of LED lighting system by the residential customers.
By Distribution Channel: The rising demand for advanced lamps such as MR-16 lamps and reflector lamps, especially in retail applications such as small stores, retail shops, and malls, is expected to help the segment retain dominance; however, they are now losing share to direct sales (project-based solutions).
By Region: Asia- Pacific region to witness fastest growth rate and is strengthening its position due to strong economic growth driven mainly by China. It is followed by North America and Europe.
Asia-Pacific: Asia-Pacific dominated the market by contributing revenue share of ~% in 2020P. China plays a significant role in this region due to its large economic size & strong growth and contributed around ~% of the total revenues in 2020P. The Indian LED market has seen a tremendous growth @ CAGR 18.0% for the period 2014-2020 and is likely to become cost competitive vs. China on export of manufactured goods due to increasing and higher labor costs in China. Heavy demand for new construction, rising usage in residential application along with declining LED prices will strengthen its position.
North America: Encouraging government initiatives and rebate programs along with the emergence of smart light filling technology has increased the revenue share of North America to ~% in 2020P. Rising trend of connected lighting controls for indoor and outdoor applications has been a major growth factor.
Europe contributed ~% of the revenue share with Germany capturing the highest market share of ~% in 2020P. Rising implementation of advanced lighting system across residential and commercial sector is expected to drive growth
Latin America contributed ~% revenue share of LED Lighting market in the global world. Growth in urban lighting along with residential, outdoor, and architectural applications in Brazil, Mexico and Argentina is expected to drive the market. Solid demand from housing and infrastructure developments in Chile, Peru, and Colombia is expected to lead to above-average growth.
Middle East and Africa (MEA) contributed ~% revenue share of LED Lighting market in the global world. Development of smart buildings and smart cities, is fuelling LED growth. Huge investments (~$1,580 bn for the year 2019-2023F) in public and private infrastructure are observed in UAE, Qatar and Saudi Arabia. Outdoor lighting systems are also used as a measure of attracting tourists towards popular sites in UAE such as Dubai Mall uses light and water show, Burj Khalfia organized light show. Moreover, global events scheduled in the GCC countries such as The 2020 Dubai World Expo and the 2022 Qatar World Cup along with rural electrification in Africa will drive the LED lighting market.
Key Segments Covered:-
By Type of LED
By Type of LED Luminaries
Outdoor Area Lights
By Type of LED Lamps
By End User
By Distribution Channel
Middle East and Africa
Cooper Industries (Eaton)
PT. Honoris Industry
PT. Holz International Technology
Firefly Electric and Lighting
Akari Lighting & Technology
National Lighting Company
Al Nasser Group
Key Target Audience:-
LED Lighting Manufacturers
LED Lighting Suppliers
LED Lighting OEMs/Assemblers
LED Lighting Importers/Exporters
Research organizations and consulting companies
Government bodies such as regulating authorities and policy makers
Market research and consulting firms
Time Period Captured in the Report:-
Historical Period – 2014-2019
Forecast Period –2019-2025F
For More Information on the research report, refer to below link:-
UAE LED Lighting Market Outlook To 2023- By LEDs Lamps (LED Reflectors, LED Tubes, Others); Luminaires (Downlights, Troffers, Outdoor Area Lights, Roadway Fixtures, Spot Lights And Other Luminaires), By Usage (Indoor And Outdoor), By End Users
Ankur Gupta, Head Marketing & Communications