The global LED Lighting market is a very fast-growing market with an average CAGR of 13.7 % during the forecast period. As of 2018, the LED Lighting market industry is valued at 53.8 billion USD, and it is estimated to reach 102.23 billion USD by the year 2024. Asia-Pacific (APAC) region has the largest market share of LED Lighting Market as of 2018 accounting for over 40%.
Market Drivers and Restraints
Drivers
Increasing demand for energy-efficient lighting systems, modernization, and development of infrastructure, especially in the APAC region is the biggest driver of the market. Availability and affordability of LED in recent years have led to people using LED instead of their conventional source of light.
Restraints
Lack of general awareness regarding LED, especially in the rural areas where a conventional bulb is preferred because it’s cheap but ends up consuming more energy in its lifetime, is a restraint for the market.
LED Lighting Market Segmentation Analysis
By Installation Type
New Installation
Retrofit Installation
New installation type has a larger market share as well as higher growth rates. The new installation includes lights used in streetlights, high bays, downlights, track lights, troffers, and suspended pendants for various applications.
By End-Use Application
Indoor Lighting
Outdoor Lighting
Indoor Lighting has a higher market share as of 2018 and is also projected to have a higher growth rate in the forecast period. Many countries, both in the developed as well as developing worlds, have switched to LED from their conventional lighting source and it will continue to drive the market in the future.
By Product Type
Lamps
Luminaires
LED Lamps segment has a higher market share as well as a higher growth rate. These lamps have various advantages over incandescent ones, including robustness and energy efficiency. Also, they are available in multiple designs and applications such as T-Lamps, reflectors, A-Lamps, and MR-16 lamps.
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Asia Pacific (APAC) holds the largest share globally as of 2018, and it is projected to remain on the top spot throughout the forecast period. This can be attributed to many initiatives that various governments took to embrace LED Lightings such as that of Taiwan, Japan, and China. These Governments adopted the light-emitting diodes markets and helped many corporations to set up their factories in the region.
Key Market Players
Key players in the LED lighting market are - Phillips Lighting Holding B.V. (Netherlands), General Electric Company (US), OSRAM Licht AG (Germany), Cree, Inc. (US), and Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (UK), Zumtobel Group AG (Austria), Samsung (South Korea), and Sharp Corporation (Japan).
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Market Share Analysis
5.2 Product Benchmarking
5.3 Regional Presence
5.4 Mergers & Acquistion Landscape
5.5 Joint Ventures & Collaborations
6. Market Segmentation
6.1 LED Lighting Market, by Installation Type
6.1.1 New Installation
6.1.2 Retrofit Installation
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 LED Lighting Market, by End-Use Application
6.2.1 Indoor Lighting
6.2.2 Outdoor Lighting
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 LED Lighting Market, by Product Type
6.3.1 Lamps
6.3.2 Luminaires
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 LED Lighting Market, by Region
7.2 North America - Market Analysis (2019 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Installation Type
7.2.3 By End-Use Application
7.2.4 By Product Type
7.2.5 Y-o-Y Growth Rate Analysis
7.2.6 Market Attractiveness Index
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Installation Type
7.3.3 By End-Use Application
7.3.4 By Product Type
7.3.5 Y-o-Y Growth Rate Analysis
7.3.6 Market Attractiveness Index
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Installation Type
7.4.3 By End-Use Application
7.4.4 By Product Type
7.4.5 Y-o-Y Growth Rate Analysis
7.4.6 Market Attractiveness Index
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Installation Type
7.5.3 By End-Use Application
7.5.4 By Product Type
7.5.5 Y-o-Y Growth Rate Analysis
7.5.6 Market Attractiveness Index
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Installation Type
7.6.3 By End-Use Application
7.6.4 By Product Type
7.6.5 Y-o-Y Growth Rate Analysis
7.6.6 Market Attractiveness Index
8. Key Player Analysis
8.1 Phillips Lighting Holding B.V. (Netherlands)
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 General Electric Company (US)
8.3 OSRAM Licht AG (Germany)
8.4 Cree, Inc. (US)
8.5 Virtual Extension (Israel)
8.6 Dialight plc (UK)
8.7 Zumtobel Group AG (Austria)
8.8 Samsung (South Korea)
8.9 Sharp Corporation (Japan)
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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Feb 2020
