
Solid State Lighting Market Report and Forecast 2025-2034
Description
The global solid state lighting market attained a value of USD 46.85 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 12.20% to reach USD 148.13 Billion by 2034.
Growing Replacement of Conventional Lighting Systems with Solid State Lighting to Aid the Market Growth
The solid state lighting industry is expected to witness a growth over the forthcoming years due to the wider adoption of the product across various industry verticals. As LEDs have become more efficient and affordable, their wider use in decentralised energy systems has been a boon for energy access, where they are rapidly replacing conventional lighting systems. Thus, LEDs, with a continuous growth of their luminous efficiencies, are witnessing a robust demand. In the long run, solid state lighting is cost-effective, even though the initial equipment and installation cost is high. The mass production of LED lamps and evolving lighting technologies are expected to further reduce the prices and increase their demand in the future. These factors are expected to support the market growth of solid state lighting.
Solid State Lighting: Market Segmentation
Solid state lighting (SSL) refers to a type of technology that uses semiconductor light-emitting diodes (LEDs), polymer light-emitting diodes (PLED), and organic light-emitting diodes (OLED) as sources of lighting rather than conventional incandescent and fluorescent lamps.
The types of solid state lighting are as follows:
Solid state lighting is considered to be a more viable lighting option as it consumes 50% and 85% less electricity as compared to fluorescent lamps and incandescent lights, respectively, making it more environment-friendly and cost-effective. It has a better life as compared to other options available in the market, making it the best option available for libraries and offices. These factors have supported the market growth of solid state lighting.
Solid state lighting uses energy-saving technology, which is further supporting the market growth due to the increasing demand for higher efficiency of lighting. The increased awareness and supportive initiatives by the governments for the use of environmentally friendly lighting technologies is further expected to boost the market growth over the forecast period. Moreover, emerging opportunities in smart city technologies and the emergence of smart lighting are projected to offer lucrative opportunities for the growth of the solid state lighting industry.
Key Industry Players in the Global Solid State Lighting Market
The report presents a detailed analysis of the following key players in the global solid state lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
Growing Replacement of Conventional Lighting Systems with Solid State Lighting to Aid the Market Growth
The solid state lighting industry is expected to witness a growth over the forthcoming years due to the wider adoption of the product across various industry verticals. As LEDs have become more efficient and affordable, their wider use in decentralised energy systems has been a boon for energy access, where they are rapidly replacing conventional lighting systems. Thus, LEDs, with a continuous growth of their luminous efficiencies, are witnessing a robust demand. In the long run, solid state lighting is cost-effective, even though the initial equipment and installation cost is high. The mass production of LED lamps and evolving lighting technologies are expected to further reduce the prices and increase their demand in the future. These factors are expected to support the market growth of solid state lighting.
Solid State Lighting: Market Segmentation
Solid state lighting (SSL) refers to a type of technology that uses semiconductor light-emitting diodes (LEDs), polymer light-emitting diodes (PLED), and organic light-emitting diodes (OLED) as sources of lighting rather than conventional incandescent and fluorescent lamps.
The types of solid state lighting are as follows:
- LED
- OLED
- PLED
- New Installation
- Retrofit
- Indoor Lighting
- Outdoor Lighting
- Speciality Lighting
- Residential
- Industrial and Commercial
- Medical
- Transportation
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Solid state lighting is considered to be a more viable lighting option as it consumes 50% and 85% less electricity as compared to fluorescent lamps and incandescent lights, respectively, making it more environment-friendly and cost-effective. It has a better life as compared to other options available in the market, making it the best option available for libraries and offices. These factors have supported the market growth of solid state lighting.
Solid state lighting uses energy-saving technology, which is further supporting the market growth due to the increasing demand for higher efficiency of lighting. The increased awareness and supportive initiatives by the governments for the use of environmentally friendly lighting technologies is further expected to boost the market growth over the forecast period. Moreover, emerging opportunities in smart city technologies and the emergence of smart lighting are projected to offer lucrative opportunities for the growth of the solid state lighting industry.
Key Industry Players in the Global Solid State Lighting Market
The report presents a detailed analysis of the following key players in the global solid state lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Cree, In
- Energy Focus, Inc.
- General Electric Company
- Toshiba Corporation
- Osram Licht AG
- Samsung Electronics Co., Ltd
- Others
Table of Contents
162 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Solid State Lighting Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Solid State Lighting Historical Market (2018-2024)
- 5.3 Global Solid State Lighting Market Forecast (2025-2034)
- 5.4 Global Solid State Lighting Market by Type
- 5.4.1 LED
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 OLED
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 PLED
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.5 Global Solid State Lighting Market by Installation Type
- 5.5.1 New Installation
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Retrofit
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.6 Global Solid State Lighting Market by Application
- 5.6.1 Indoor Lighting
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Outdoor Lighting
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.6.3 Speciality Lighting
- 5.6.3.1 Historical Trend (2018-2024)
- 5.6.3.2 Forecast Trend (2025-2034)
- 5.7 Global Solid State Lighting Market by Industry Vertical
- 5.7.1 Residential
- 5.7.1.1 Historical Trend (2018-2024)
- 5.7.1.2 Forecast Trend (2025-2034)
- 5.7.2 Industrial and Commercial
- 5.7.2.1 Historical Trend (2018-2024)
- 5.7.2.2 Forecast Trend (2025-2034)
- 5.7.3 Medical
- 5.7.3.1 Historical Trend (2018-2024)
- 5.7.3.2 Forecast Trend (2025-2034)
- 5.7.4 Transportation
- 5.7.4.1 Historical Trend (2018-2024)
- 5.7.4.2 Forecast Trend (2025-2034)
- 5.7.5 Others
- 5.8 Global Solid State Lighting Market by Region
- 5.8.1 North America
- 5.8.1.1 Historical Trend (2018-2024)
- 5.8.1.2 Forecast Trend (2025-2034)
- 5.8.2 Europe
- 5.8.2.1 Historical Trend (2018-2024)
- 5.8.2.2 Forecast Trend (2025-2034)
- 5.8.3 Asia Pacific
- 5.8.3.1 Historical Trend (2018-2024)
- 5.8.3.2 Forecast Trend (2025-2034)
- 5.8.4 Latin America
- 5.8.4.1 Historical Trend (2018-2024)
- 5.8.4.2 Forecast Trend (2025-2034)
- 5.8.5 Middle East and Africa
- 5.8.5.1 Historical Trend (2018-2024)
- 5.8.5.2 Forecast Trend (2025-2034)
- 6 North America Solid State Lighting Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Solid State Lighting Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Solid State Lighting Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Solid State Lighting Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Solid State Lighting Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirates
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Value Chain Analysis
- 13 Competitive Landscape
- 13.1 Supplier Selection
- 13.2 Key Global Players
- 13.3 Key Regional Players
- 13.4 Key Player Strategies
- 13.5 Company Profiles
- 13.5.1 Cree, Inc.
- 13.5.1.1 Company Overview
- 13.5.1.2 Product Portfolio
- 13.5.1.3 Demographic Reach and Achievements
- 13.5.1.4 Certifications
- 13.5.2 Energy Focus, Inc.
- 13.5.2.1 Company Overview
- 13.5.2.2 Product Portfolio
- 13.5.2.3 Demographic Reach and Achievements
- 13.5.2.4 Certifications
- 13.5.3 General Electric Company
- 13.5.3.1 Company Overview
- 13.5.3.2 Product Portfolio
- 13.5.3.3 Demographic Reach and Achievements
- 13.5.3.4 Certifications
- 13.5.4 Toshiba Corporation
- 13.5.4.1 Company Overview
- 13.5.4.2 Product Portfolio
- 13.5.4.3 Demographic Reach and Achievements
- 13.5.4.4 Certifications
- 13.5.5 Osram Licht AG
- 13.5.5.1 Company Overview
- 13.5.5.2 Product Portfolio
- 13.5.5.3 Demographic Reach and Achievements
- 13.5.5.4 Certifications
- 13.5.6 Samsung Electronics Co., Ltd
- 13.5.6.1 Company Overview
- 13.5.6.2 Product Portfolio
- 13.5.6.3 Demographic Reach and Achievements
- 13.5.6.4 Certifications
- 13.5.7 Others
Pricing
Currency Rates
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