Global Industrial and Commercial Light-Emitting Diode (LED) Lighting Market, By Product (LED Lamps and LED Fixture), Application (Indoor Lightning and Outdoor Lightning), End User (Industrial and Commercial) – Industry Trends and Forecast to 2029
Market Analysis and Size
The use of industrial and commercial light-emitting diode (LED) lighting has escalated in the past years. This device is widely utilized in lamps as a replacement of incandescent light source. These devices are getting popularity as highly cost efficient and long lasting lightings.
The industrial and commercial light-emitting diode (LED) lighting market was valued at USD 35.97 billion in 2021 and is expected to reach USD 157.78 billion by 2029, registering a CAGR of 20.30% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
A light-emitting diode (LED) refers to a semiconductor light source that assists in converting electrical energy directly into light energy. These devices are widely utilized in lamps as a replacement of incandescent light sources.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (LED Lamps and LED Fixture), Application (Indoor Lightning and Outdoor Lightning), End User (Industrial and Commercial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Zumtobel Group AG (Austria), Eaton (Ireland), Dialight. (UK), Advanced Lighting Technologies, LLC (US), AIXTRON (Germany), OSRAM SYLVANIA Inc (US), TOYODA GOSEI Co., Ltd. (Japan), Digital Lumens, Inc. (US), Emerson Electric Co. (US), Signify Holding. (Netherlands), GENERAL ELECTRIC (US), Schneider Electric (France), ACUITY BRANDS LIGHTING, INC. (US), Hubbell (US), Ushio America, Inc. (US), Litetronics International, Inc. (US), Cree Lighting. (US), LG INNOTEK. (South Korea), Leviton Manufacturing Co., Inc. (US), among others
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Market Opportunities
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Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Popularity of LED Lighting
Industrial and commercial LED lighting serves various benefits comprising more extraordinary performance and dependability, more extended shelf-life, less energy waste, compressed and robust characteristics, in correlation to conventional illumination.
- Favourable Regulations
Certain improvements are encouraging the requirement for the LED market during the forecast period of 2020 to 2027. Furthermore, complimentary government ordinances for the establishment of LED with a purpose for minimizing power dissipation are adding vital growth factor of the market.
- Cost-Effective Solution
The increase in the inclination towards LED over conventional compact fluorescent lamp (CFL) due to advanced features further influence the market. Moreover, it is a cost-effective solution for all lighting as well as other applications such as backlighting in large screen displays, non-backlight and displays (OLED).
Additionally, rapid urbanization, lifestyle change, investments, and increased consumer spending positively impact the industrial and commercial light-emitting diode (LED) lighting market.
Opportunities
Furthermore, increase in the requirement for smart light extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
Restraints/Challenges
On the other hand, voltage sensation and temperature dependency are expected to obstruct market growth. The high initial cost of LED lighting technology is projected to challenge the industrial and commercial light-emitting diode (LED) lighting market in the forecast period of 2022-2029.
This industrial and commercial light-emitting diode (LED) lighting market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info industrial and commercial light-emitting diode (LED) lighting market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Industrial and Commercial Light-Emitting Diode (LED) Lighting Market
The COVID-19 has impacted industrial and commercial light-emitting diode (LED) lighting market. The limited investment costs and lack of employees hampered sales and production of industrial and commercial light-emitting diode (LED) lighting technology. However, government and market key players adopted new safety measures for developing the practices. Technological advancements escalated the sales rate of industrial and commercial light-emitting diode (LED) lighting as it targeted the right audience. The increase in sales of devices across the globe is expected to further drive the market growth in the post-pandemic scenario.
Global Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Scope and Market Size
The industrial and commercial light-emitting diode (LED) lighting market is segmented on the basis of product, application, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- LED Lamps
- LED Fixture
Application
- Indoor Lightning
- Outdoor Lightning
End User
- Industrial
- Commercial
Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Regional Analysis/Insights
The industrial and commercial light-emitting diode (LED) lighting market is analysed and market size insights and trends are provided by country, product, application, and end user as referenced above.
The countries covered in the industrial and commercial light-emitting diode (LED) lighting market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
North America dominates the industrial and commercial light-emitting diode (LED) lighting market because of the presence of dedicated suppliers of the product and rise in demand for signage in the retail industry within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rise in awareness regarding the benefits of digital signage in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial and Commercial Light-Emitting Diode (LED) Lighting Market
The industrial and commercial light-emitting diode (LED) lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial and commercial light-emitting diode (LED) lighting market.
Some of the major players operating in the industrial and commercial light-emitting diode (LED) lighting market are
- Zumtobel Group AG (Austria)
- Eaton (Ireland)
- Dialight. (UK)
- Advanced Lighting Technologies, LLC (US)
- AIXTRON (Germany)
- OSRAM SYLVANIA Inc (US)
- TOYODA GOSEI Co., Ltd. (Japan)
- Digital Lumens, Inc. (US)
- Emerson Electric Co. (US)
- Signify Holding. (Netherlands)
- GENERAL ELECTRIC (US)
- Schneider Electric (France)
- ACUITY BRANDS LIGHTING, INC. (US)
- Hubbell (US)
- Ushio America, Inc. (US)
- Litetronics International, Inc. (US)
- Cree Lighting. (US)
- LG INNOTEK. (South Korea)
- Leviton Manufacturing Co., Inc. (US)
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