LED Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
LED Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global LED lighting market size reached US$ 75.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 131 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.
A light-emitting diode (LED) refers to a semiconductor device which generates non-coherent and narrow-spectrum light when electric current passes through it. In comparison with conventional lights, LED lights are environment-friendly in nature and save around 90% of the overall energy. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output, minimum radiation emission and less power consumption. Owing to this, LED lights are now rapidly replacing incandescent and fluorescent lights across the globe.
Global LED Lighting Market Drivers:
As LED lights contain zero toxic elements and are eco-friendly in nature, their demand is being influenced by initiatives and policies by the governments of several countries introduced for environmental protection and energy conservation.
Currently, the price of electricity in several developing countries is rising due to the growing demand-supply gap. On account of this, consumers are shifting towards energy-efficient lighting sources such as LED lights.
LED lights are now widely being used in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics and street lighting, which is providing a boost to the growth of the market.
In order to widen their consumer-base, manufacturers are not only coming up with different LED lighting products, but are also investing in marketing through newspapers, televisions, etc. This is increasing product awareness among the consumers which, in turn, is strengthening the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED lighting market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Retrofit
Retail and Hospitality
Outdoor
Offices
Architectural
Homes
Industrial
Based on applications, the market is segregated as retrofit, retail and hospitality, outdoor, offices, architectural, homes, and industrial. Amongst these, retrofit represents the largest application area owing to the growing awareness about the advantages offered by LED lights.
Regional Insights:
India
China
Europe
Japan
Brazil
Russia
United States
On a geographical front, China enjoys the leading position in the market, accounting for the dominant share.
Competitive Landscape:
The market is concentrated in nature with the presence of few manufacturers who are competing against one another in terms of prices and quality. Some of these players include:
Nichia
Osram
Samsung Electronics
Everlight Electronics
LG Innotek
This report provides a deep insight into the global LED lighting industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a LED lighting manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED lighting industry in any manner.
Key Questions Answered in This Report
1. What was the size of the global LED lighting market in 2022?
2. What is the expected growth rate of the global LED lighting market during 2023-2028?
3. What are the key factors driving the global LED lighting market?
4. What has been the impact of COVID-19 on the global LED lighting market?
5. What is the breakup of the global LED lighting market based on the application?
6. What are the key regions in the global LED lighting market?
7. Who are the key players/companies in the global LED lighting market?
The global LED lighting market size reached US$ 75.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 131 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.
A light-emitting diode (LED) refers to a semiconductor device which generates non-coherent and narrow-spectrum light when electric current passes through it. In comparison with conventional lights, LED lights are environment-friendly in nature and save around 90% of the overall energy. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output, minimum radiation emission and less power consumption. Owing to this, LED lights are now rapidly replacing incandescent and fluorescent lights across the globe.
Global LED Lighting Market Drivers:
As LED lights contain zero toxic elements and are eco-friendly in nature, their demand is being influenced by initiatives and policies by the governments of several countries introduced for environmental protection and energy conservation.
Currently, the price of electricity in several developing countries is rising due to the growing demand-supply gap. On account of this, consumers are shifting towards energy-efficient lighting sources such as LED lights.
LED lights are now widely being used in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics and street lighting, which is providing a boost to the growth of the market.
In order to widen their consumer-base, manufacturers are not only coming up with different LED lighting products, but are also investing in marketing through newspapers, televisions, etc. This is increasing product awareness among the consumers which, in turn, is strengthening the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED lighting market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Retrofit
Retail and Hospitality
Outdoor
Offices
Architectural
Homes
Industrial
Based on applications, the market is segregated as retrofit, retail and hospitality, outdoor, offices, architectural, homes, and industrial. Amongst these, retrofit represents the largest application area owing to the growing awareness about the advantages offered by LED lights.
Regional Insights:
India
China
Europe
Japan
Brazil
Russia
United States
On a geographical front, China enjoys the leading position in the market, accounting for the dominant share.
Competitive Landscape:
The market is concentrated in nature with the presence of few manufacturers who are competing against one another in terms of prices and quality. Some of these players include:
Nichia
Osram
Samsung Electronics
Everlight Electronics
LG Innotek
This report provides a deep insight into the global LED lighting industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a LED lighting manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED lighting industry in any manner.
Key Questions Answered in This Report
1. What was the size of the global LED lighting market in 2022?
2. What is the expected growth rate of the global LED lighting market during 2023-2028?
3. What are the key factors driving the global LED lighting market?
4. What has been the impact of COVID-19 on the global LED lighting market?
5. What is the breakup of the global LED lighting market based on the application?
6. What are the key regions in the global LED lighting market?
7. Who are the key players/companies in the global LED lighting market?
Table of Contents
150 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Lighting Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Market Breakup by Region
- 5.4 Market Breakup by Application
- 5.5 Market Breakup by Technology
- 5.6 Market Forecast
- 6 Global LED Lighting Market
- 6.1 Market Overview
- 6.2 Market Performance
- 6.2.1 Volume Trends
- 6.2.2 Value Trends
- 6.3 Impact of COVID-19
- 6.4 Price Trends
- 6.5 Market Breakup by Region
- 6.6 Market by Product Type
- 6.6.1 LED Lamps and Modules: Market Trends
- 6.6.2 LED Fixtures: Market Trends
- 6.6.3 Market Forecast
- 6.7 Market Breakup by Application
- 6.8 Market Forecast
- 6.9 SWOT Analysis
- 6.9.1 Overview
- 6.9.2 Strengths
- 6.9.3 Weaknesses
- 6.9.4 Opportunities
- 6.9.5 Threats
- 6.10 Value Chain Analysis
- 6.10.1 Primary Raw Materials Suppliers
- 6.10.2 LED Chip Manufacturers
- 6.10.3 LED Package and Module Manufacturers
- 6.10.4 Lighting Products, Electronic Products and Automotive Part Manufacturers
- 6.10.5 Product Distribution
- 6.10.6 End Users
- 6.11 Porter’s Five Forces Analysis
- 6.11.1 Overview
- 6.11.2 Bargaining Power of Buyers
- 6.11.3 Bargaining Power of Suppliers
- 6.11.4 Degree of Competition
- 6.11.5 Threat of New Entrants
- 6.11.6 Threat of Substitutes
- 6.12 Key Market Drivers and Success Factors
- 6.13 Key Risk Factors for LED Manufacturers
- 6.14 Comparison of LED’s with Conventional Lighting Technologies
- 7 Performance of Key Regions
- 7.1 India
- 7.1.1 India Lighting Market
- 7.1.1.1 Market Performance
- 7.1.1.2 Market Breakup by Application
- 7.1.1.3 Market Breakup by Technology
- 7.1.1.4 Market Forecast
- 7.1.2 India LED Lighting Market
- 7.1.2.1 Market Performance
- 7.1.2.2 Market Forecast
- 7.1.2.3 Key Players
- 7.2 China
- 7.2.1 China Lighting Market
- 7.2.1.1 Market Performance
- 7.2.1.2 Market Breakup by Application
- 7.2.1.3 Market Breakup by Technology
- 7.2.1.4 Market Forecast
- 7.2.2 China LED Lighting Market
- 7.2.2.1 Market Performance
- 7.2.2.2 Market Forecast
- 7.2.2.3 Key Players
- 7.3 Europe
- 7.3.1 Europe Lighting Market
- 7.3.1.1 Market Performance
- 7.3.1.2 Market Breakup by Application
- 7.3.1.3 Market Breakup by Technology
- 7.3.1.4 Market Forecast
- 7.3.2 Europe LED Lighting Market
- 7.3.2.1 Market Performance
- 7.3.2.2 Market Forecast
- 7.3.2.3 Key Players
- 7.4 United States
- 7.4.1 United States Lighting Market
- 7.4.1.1 Market Performance
- 7.4.1.2 Market Breakup by Application
- 7.4.1.3 Market Breakup by Technology
- 7.4.1.4 Market Forecast
- 7.4.2 United States LED Lighting Market
- 7.4.2.1 Market Performance
- 7.4.2.2 Market Forecast
- 7.4.2.3 Key Players
- 7.5 Japan
- 7.5.1 Japan Lighting Market
- 7.5.1.1 Market Performance
- 7.5.1.2 Market Breakup by Application
- 7.5.1.3 Market Breakup by Technology
- 7.5.1.4 Market Forecast
- 7.5.2 Japan LED Lighting Market
- 7.5.2.1 Market Performance
- 7.5.2.2 Market Forecast
- 7.5.2.3 Key Players
- 7.6 Brazil
- 7.6.1 Brazil Lighting Market
- 7.6.1.1 Market Performance
- 7.6.1.2 Market Breakup by Application
- 7.6.1.3 Market Breakup by Technology
- 7.6.1.4 Market Forecast
- 7.6.2 Brazil LED Lighting Market
- 7.6.2.1 Market Performance
- 7.6.2.2 Market Forecast
- 7.6.2.3 Key Players
- 7.7 Russia
- 7.7.1 Russia Lighting Market
- 7.7.1.1 Market Performance
- 7.7.1.2 Market Breakup by Application
- 7.7.1.3 Market Breakup by Technology
- 7.7.1.4 Market Forecast
- 7.7.2 Russia LED Lighting Market
- 7.7.2.1 Market Performance
- 7.7.2.2 Market Forecast
- 7.7.2.3 Key Players
- 8 Market by Application
- 8.1 Retrofit
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Retail and Hospitality
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Outdoor
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Offices
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Architectural
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Homes
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Industrial
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
- 9 Competitive Landscape
- 9.1 Market Structure
- 9.2 Market Breakup by Key Players
- 10 LED (SMD) Manufacturing Process
- 10.1 Product Overview
- 10.2 Detailed Process Flow
- 10.3 Various Types of Unit Operations Involved
- 10.4 Mass Balance and Raw Material Requirements
- 11 Project Details, Requirements and Costs Involved
- 11.1 Land Requirements and Expenditures
- 11.2 Construction Requirements and Expenditures
- 11.3 Plant Layout
- 11.4 Plant Machinery
- 11.5 Machinery Pictures
- 11.6 Raw Material Requirements and Expenditures
- 11.7 Raw Material and Final Product Pictures
- 11.8 Packaging Requirements and Expenditures
- 11.9 Transportation Requirements and Expenditures
- 11.10 Utility Requirements and Expenditures
- 11.11 Manpower Requirements and Expenditures
- 11.12 Other Capital Investments
- 12 Loans and Financial Assistance
- 13 Project Economics
- 13.1 Capital Cost of the Project
- 13.2 Techno-Economic Parameters
- 13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 13.4 Income Projections
- 13.5 Expenditure Projections
- 13.6 Taxation and Depreciation
- 13.7 Financial Analysis
- 13.8 Profit Analysis
- 14 Key Player Profiles
- 14.1 Nichia
- 14.2 Osram
- 14.3 Samsung Electronics
- 14.4 Everlight Electronics
- 14.5 LG Innotek
Pricing
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