LED Lighting Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027 | Grand View Research Inc.
The global LED Lighting market size is expected to reach USD 127.04 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.4% over the forecast period. The LED lighting offers benefits such as energy efficiency, costsaving, longer service life, lower heat emission, and nanosecond switching capability, fueling the product demand in the market. Advantage of directional controlled light is anticipated to further drive the demand. Technological advancements and availability of numerous design options for fixtures and lamps due to compact shape and features, such as daylighting, occupancy senor, dim-ability, and timer, are anticipated to positively influence the growth. The energy conservation policy introduced by governments across the world, providing incentives, and attractive rebates for individuals and organizations in commercial and industrial spaces has further contributed to market growth. LED lighting is widely adopted across commercial and industrial space as the LED lights contribute towards delivering maximum visibility for an appropriate work environment. The introduction of LED in the lighting industry readily became an accepted standard for lighting for commercial and industrial buildings. Moreover, technological advancements such as connected and app-controlled lighting proved to be vital for boosting the market growth. Improvements in lighting technology have led to the emergence of flicker-free LED products, which is appropriate for uninterrupted bright light for application areas such as classrooms, hospitals, and offices, among other spaces. The demand across the residential sector is
expected to bolster with the development of smart cities providing lucrative growth opportunities for prominent market players. LED Lighting Market Report Highlights
LED Lighting is estimated to grow at a CAGR of 13.4% over the forecast period 2020 to 2027. The higher demand for illuminating the commercial and industrial space as per the aesthetics of the rooms for better visibility at an affordable price has driven the market growth over the forecast period.
The lamp segment is anticipated to witness the highest growth of a CAGR of 14.5% over the forecast period. The demand is primarily driven by the residential sector owing to encouraging government policies and initiatives.
The Asia Pacific region is expected to dominate the market during the forecast period is anticipated to grow at a CAGR of 14.6% from 2020 to 2027
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LED Lighting Market Segmentation Grand View Research has segmented the global LED lighting market on the basis of product, application, end use, and region: LED Lighting Product Outlook (Revenue, USD Billion, 2016 - 2027)
Lamps o
A-Lamps
o
T-Lamps
o
Others
Luminaires o
Streetlights
o
Downlights
o
Troffers
o
Others
LED Lighting Application Outlook (Revenue, USD Billion, 2016 - 2027)
Indoor
Outdoor
LED Lighting End-use Outlook (Revenue, USD Billion, 2016 - 2027)
Commercial
Industrial
Residential
Others
LED Lighting Regional Outlook (Revenue, USD Billion, 2016 - 2027)
North America o
U.S.
o
Canada
Europe o
U.K.
o
Germany
Asia Pacific
o
China
o
India
o
Japan
Latin America o
Brazil
o
Mexico
Middle East & Africa
List of Key Players of LED Lighting Market
Acuity Brands Lighting Inc.
Digital Lumens Inc.
Osram Gmbh
Cree Inc.
Dialight
Zumtobel Group Ag
Signify Holding
LSI Industries Inc.
Hubbell
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Table of Content
Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.2.Market Definition 1.3. Information procurement 1.3.1.Purchased database 1.3.2.GVR’s internal database 1.3.3.Secondary sources & third-party perspectives 1.3.4 Primary research 1.4.Information Analysis 1.5.Market Formulation & Data Validation 1.6 List Of Abbreviations Chapter 2 Executive Summary 2.1 Market Snapshot Chapter 3 LED lighting - Market Variable, Trend & Scope 3.1 Penetration and Growth Prospect Mapping 3.2 Value Chain Analysis 3.3 Market Variable Analysis 3.3.1 Market Driver Analysis 3.3.1.1 Transformation in energy policies globally 3.3.1.2 Aggressive price decline Continue………
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