Overview and Scope
The industrial and commercial light-emitting diode (LED) lighting market
consists of sales of LED bulbs, fixtures, retrofit kits, smart LED lighting
systems, and lighting control systems. Values in this market are ‘factory gate’
values, that is the value of goods sold by the manufacturers or creators of the
goods, whether to other entities (including downstream manufacturers,
wholesalers, distributors and retailers) or directly to end customers. The
value of goods in this market includes related services sold by the creators of
the goods.
Sizing and Forecast
The industrial and commercial light-emitting diode (LED) lighting market size
has grown rapidly in recent years. It will grow from $41.09 billion in 2023 to
$49.03 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be
attributed to the growing popularity of LED lighting among industries, rising
demand for various cost-saving lighting, rise in demand for energy-efficient
LED lighting, increase in government programs to adopt LEDs, and rising
necessity to replace conventional lighting systems.
The industrial and commercial light-emitting diode (LED) lighting market size
is expected to see rapid growth in the next few years. It will grow to $100.08
billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be
attributed to the declining manufacturing cost of LEDs, growing traction for
intelligent lighting systems, demand for LED lighting products, increasing
construction of new structures, and high-efficacy mid-power LED to serve
commercial indoor lighting. Major trends in the forecast period include growing
technological advancements, increasing investments in industry-grade LED
technologies, increasing investments in the modernization of infrastructure,
lighting technologies are evolving, and rapidly developing lighting technology.
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Segmentation & Regional Insights
The industrial and commercial light-emitting diode (LED) lighting market
covered in this report is segmented –
1) By Product Type: LED Lamps, LED Fixtures
2) By Installation: New Installation, Retrofit
3) By Distribution Channel: Direct Sales, Wholesalers
4) By Application: Indoor Lighting, Outdoor Lighting
5) By End User: Commercial Offices, Retail, Hospitality And Leisure,
Healthcare, Industrial, Architectural, Other End Users
North America was the largest region in the industrial and commercial
light-emitting diode (LED) lighting market in 2023. Asia-Pacific is expected to
be the fastest growing region in the market. The regions covered in the
industrial and commercial light-emitting diode (LED) lighting market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing construction activities are expected to propel the growth of the
industrial and commercial light-emitting diode (LED) lighting market going
forward. Construction activities encompass a broad range of tasks involved in
creating, modifying, maintaining, and demolishing structures and
infrastructure. These activities are essential for building residential,
commercial, industrial, and civil engineering projects. The increase in
construction activities is due to population growth, urbanization, economic
development, and the need for updated infrastructure and modern living and
working spaces. Industrial and commercial LED lighting is indispensable in
contemporary construction projects, offering efficient, sustainable, and
aesthetically pleasing lighting solutions across interior and exterior
applications. For instance, in June 2024, according to the US Census Bureau, a
US-based government agency, the value of construction activities increased from
$1,970.8 billion in 2023 to $2,099.0 billion in 2024, with a growth rate of
10.0%. Therefore, the increasing construction of new structures is driving
growth in the industrial and commercial light-emitting diode (LED) lighting
market.
Key Industry Players
Major companies operating in the industrial and commercial light-emitting diode
(LED) lighting market are Samsung Electronics Co. Ltd., Panasonic Corporation,
Eaton Corporation plc, Koninklijke Philips N.V., Stanley Black & Decker
Inc., Signify Holding B.V., Osram Licht AG, Hubbell Inc., Acuity Brands Inc.,
Havells India Ltd., Hafele Gmbh & Co., Zumtobel Group AG, Lutron
Electronics Co. Inc., Thorn Lighting Ltd., Cree Lighting USA LLC, General
Electric Lighting, Dialight plc, Progress Lighting, Siteco GmbH, Kichler
Lighting LLC, WAC Lighting, LEDiL, Maxim Lighting International Inc., Csl
Lighting Inc.
The industrial and commercial light-emitting diode (led) lighting market report
table of contents includes:
1. Executive Summary
2.
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market
Characteristics
3.
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Trends And
Strategies
4.
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market - Macro
Economic Scenario
5. Global
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Size and
Growth
.
32. Global
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market
Competitive Benchmarking
33. Global
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market
Competitive Dashboard
34. Key
Mergers And Acquisitions In The Industrial And Commercial Light-Emitting Diode
(LED) Lighting Market
35.
Industrial And Commercial Light-Emitting Diode (LED) Lighting Market Future
Outlook and Potential Analysis
36.
Appendix
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