The report titled “Global LED Lighting Market
Outlook to 2025– Rise in Government Interventions, Rapid Technological
Advancements and Rise in Smart City Projects will Drive the Market” provides a comprehensive
analysis on global LED Lighting market. The report covers various aspects
including the current global lighting scenario in value, its segmentations viz,
type of LEDs, sales channel, technology, end users and regional analysis, major
trends and development, issues and challenges, government regulations and
competition benchmarking. The report concludes with market projections for
future of the industry including forecasted industry size by revenue and
prices.
Global
LED Lighting Market Overview and Size
The Global LED
lighting market has witnessed a rapid growth over the recent past. Through technology development and energy
efficiency policies such as ban of incandescent bulbs in major countries, the penetration
of LED lighting has increased from 11% in 2014. The growing concern among the
population about the amount of heat emitted by traditional fluorescent lights
has made people shift to more energy saving resources, thereby expanding the
overall size of LED lighting market.
The market is
currently at the growth stage and the growth is attributed to the high
efficiency & longer life span of LEDs with rising government intervention
& attractive incentives. The new changes in the governments regulations
related to lighting standards in the country provide a positive outlook for the
market in the long run. The new technological advancements and innovation in
the product offerings are driving the market growth.
Global
LED Lighting Market Segmentation
Type
of LEDs
The market has
presence of two type of LED lights Lamps and Luminaires. LED luminaires have
been successful in driving the overall LED lighting market by increasing highest
revenue share of 65.0% in 2020P. Major types of luminaires which are globally
used are Troffers, Downlights and High Bay. Government programs aimed at
retrofitting the public construction and commercial lightings has been a major
contributor for the growth in the revenues from LED lamps. A-Lamps has
contributed second largest share which has dominated the LED lamps segment in
2020P.
By
Usage
The increasing
awareness about energy saving resources in the global world boosted the demand
for indoor LED lights in the residential sector, making them contribute highest
share to the global revenue in 2020P. However, the outdoor LED lighting segment
is expected to grow at a high CAGR of 8.3% in the forecasted time period
(2020P-2025F). Collaboration of prominent companies (The Capital Group & Philips)
to replace all traditional lights with LED smart lightings by 2025 to drive
growth for outdoor smart lighting.
By
Sector
Despite the
higher initial cost of installation which is added to the expenses of the
companies opting LED lights, this lighting technology is preferred by the
commercial sector for its longer shelf life and energy saving benefits and have
dominated the highest share during 2020P. Increased awareness among the
customers regarding energy saving benefits of LED lights has been a major
driver for the increased application of LED lighting system by the residential
customers, thereby contributing highest share to the total revenue.
By
Distribution Channels
Retail sales
generally cater to the lighting requirements of the commercial, industrial and
residential customers and dominate the market contributing highest revenue
share during 2020P. However, they are now losing share to direct sales
(project-based solutions) which have contributed remaining share in the same
year. Upcoming events such as UAE Vision 2021, Qatar Fifa World Cup 2022 will
be the major growth driver for project based sales.
Regional
Analysis
Asia-
Pacific
Asia-Pacific dominated
the market by contributing highest revenue share in 2020P. China plays a
significant role in this region due to its large economic size & strong
growth and contributed around highest share to the total revenues in 2020P. The
Indian LED market has seen a tremendous growth @ CAGR 18.0% for the period
2014-2020 and is likely to become cost competitive vs. China on export of
manufactured goods due to increasing and higher labor costs in China. Indonesia
leads the LED lighting market share among Southeast Asian countries, while
Vietnam witnesses the highest market growth. Heavy demand for new construction,
rising usage in residential application along with declining LED prices will
strengthen its position.
North
America
Encouraging
government initiatives and rebate programs along with the emergence of smart
light filling technology has increased the revenue share of North America to be
the highest during 2020P. Rising trend of connected lighting controls for
indoor and outdoor applications along with increasing consumer interest towards
adopting highly efficient & environment friendly lighting solutions has
been a major growth factor. Cost of lighting products is expected to transfer
to consumers due to the impact of US-China Trade War and rising raw material
price.
Europe
Europe
contributed significant share of the revenue share with Germany capturing the
highest market share in 2020P. Europe has been at the forefront of adopting new
LED technologies and the region is expected to lead the intelligent lighting
system and Li-Fi installations. Several manufacturers (OSRAM, Zumtobel) are
setting up units in the Balkan countries, especially Serbia, to cater to the
demand from Eastern European countries. Rising implementation of advanced
lighting system across residential and commercial sector is expected to drive
growth.
Latin
America
Latin America
contributed smaller revenue share to the LED Lighting market in the global
world. Growth in urban lighting along with residential, outdoor, and
architectural applications in Brazil, Mexico and Argentina is expected to drive
the market. Solid demand from housing and infrastructure developments in Chile,
Peru, and Colombia is expected to lead to above-average growth.
Middle
East
Middle East and
Africa (MEA) contributed remaining revenue share of LED Lighting market in the
global world. Development of smart buildings and smart cities, especially in
cities with higher index of connectivity, is fuelling LED growth. Huge
investments (~$1,580 bn for the year 2019F-2023F) in public and private
infrastructure are observed in UAE, Qatar and Saudi Arabia. Outdoor lighting
systems are also used as a measure of attracting tourists towards popular sites
in UAE such as Dubai Mall uses light and water show, Burj Khalfia organized
light show. Moreover, global events scheduled in the GCC countries such as The
2020 Dubai World Expo and the 2022 Qatar World Cup along with rural
electrification in Africa will drive the LED lighting market.
Competitive
Landscape of Major Players Operating in Global LED Lighting Market
The LED Lighting market is highly fragmented and competitive market with
leading 10 players capturing less than ~% of the market share in 2019. Major
players present in the market are Signify, OSRAM, GE Lightings, Acuity
Brands, Cooper Industries (Eaton), Zumtobel Group, Seoul Semiconductor,
Everlight Electronics, Cree, Dialight PLC and others. New product developments,
improvements in the existing product line, and mergers and acquisitions are
some of the strategies adopted by the key players to maintain their market
share. Frequent introduction of
new LED products, rapid changes in technology, changing customer requirements,
short product life cycles and prices of similar technology by various companies
are common platforms on which the competition prevails in the overall lighting
market.
Global
LED Lighting Market Future Outlook & Projections
The global LED
Lighting market is expected to experience medium level of growth owing to growth
in construction industry, increase in urban population, financial support from
regulatory authorities and rise in smart city projects and infrastructure
development in major global economies (US & UK) developing economies (India
& China). Emerging economies in Asia Pacific and Africa are adopting solar
LEDs to provide electricity in remote places, which is expected to pose
lucrative growth opportunity for market players over the forecast period.
However, unwillingness of small and mid-sized enterprises to replace existing
lighting solutions with LED lamps is expected to restrain growth of the global
LED Lighting market during the forecast period.
Key Segments Covered:-
By Type of
LED
Luminaires
Lamps
By Type of LED Luminaries
Troffers
Downlights
High Bay
Outdoor Area Lights
Roadway Fixtures
Other Luminaries
By Type of LED Lamps
A-Lamps
Tubes
Reflectors
Other Lamps
By Usage
Indoor
Outdoor
By End User
Commercial
Residential
Industrial
Others
By Distribution Channel
Retail Sales
Project Sales
By Region
Asia-Pacific
North America
Europe
Latin America
Middle East and Africa
Companies Covered:-
Signify
OSRAM
GE
Lighting
Acuity
Brands
Cooper
Industries (Eaton)
Zumtobel
Group
Seoul
Semiconductor
Everlight
Electronics
Cree
Inc.
Dialight PLC
Syska LED
Bajaj Electricals
Panasonic
PT. Honoris Industry
Solarens Ledindo
PT.
Holz International Technology
Firefly Electric and
Lighting
Yatai International
Akari Lighting & Technology
TCP Holdings
Hubbell
Incorporated
Felio Sylvania
Nikkon
NVC Lighting
National Lighting Company
Al Nasser Group
Key Target Audience:-
LED
Lighting Manufacturers
LED
Lighting Suppliers
LED
Lighting OEMs/Assemblers
LED
Lighting Importers/Exporters
Research
organizations and consulting companies
Government
bodies such as regulating authorities and policy makers
Market
research and consulting firms
Time Period Captured in the
Report:-
Historical Period – 2014-2019
Forecast Period –2019-2025F
Key Topics Covered in the Report:-
Executive Summary
Opportunity Landscape in Global
LED Lighting Market
LED penetration in General
Lighting Market
Key Market Drivers in the Global LED Lighting
Market
Global LED Lighting Market
Introduction and Overview
Industry
Life Cycle of LED Lighting Market
Value
Chain of Global LED Lighting Market
Demand & Supply Side
Ecosystem, Preferences & Trends across Global LED Lighting Market
Global LED Lighting Market
by Revenue
Global LED Lighting Market
by Type
Global LED Lighting Market
by Usage
Global LED Lighting Market
by End Users
Global LED Lighting Market
by Regions (APAC, Europe, North America, Latin America and Middle East)
Competitive
Factors and Assessment in various regions
Market Trends and
Development
Market Issues and Challenges
Government Rules and
Regulations
Global LED Lighting Market
Competition
Global LED Lighting Market
Future Outlook
Upcoming
Technologies in the Lighting Market
Analyst Recommendations
For More Information on the
research report, refer to below link:-
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