Global LED Lighting Market, Global LED Lighting Industry: Ken Research

0


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.

global-led-lighting-market

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:

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:

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:

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

Luminaires

Lamps

By Type of LED Luminaries

Troffers

Downlights

High Bay

Outdoor Area Lights

 Roadway Fixtures

Other Luminaries

By Type of LED Lamps

A-Lamps

Tubes

Reflectors

Other Lamps

By Usage

Indoor

Outdoor

By End User

Commercial

Residential

Industrial

Others

By Distribution Channel

Retail Sales

Project Sales

By Region

Asia-Pacific

North America

Europe

Latin America

Middle East and Africa

Companies Covered:-

Signify

OSRAM

GE Lighting

Acuity Brands

Cooper Industries (Eaton)

Zumtobel Group

Seoul Semiconductor

Everlight Electronics

Cree Inc.

Dialight PLC

Syska LED

Bajaj Electricals

Panasonic

PT. Honoris Industry

Solarens Ledindo

PT. Holz International Technology

Firefly Electric and Lighting

Yatai International

Akari Lighting & Technology

TCP Holdings

Hubbell Incorporated

Felio Sylvania

Nikkon

NVC Lighting

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:-

Global LED Lighting Market

Related Reports:-

Global Organic Light-Emitting Diode (OLED) Materials Market Report 2020 By Key Players, Types, Applications, Countries, Market Size, Forecast To 2026 (Based On 2020 COVID-19 Worldwide Spread)

Global Led Glass Market Report 2020 By Key Players, Types, Applications, Countries, Market Size, Forecast To 2026 (Based On 2020 COVID-19 Worldwide Spread)

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

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Share.

Comments are closed.