1. Market Research
  2. > Electronics
  3. > Industrial Electronics
  4. > Lighting Market Trends
Global LED Lighting Market By Product, By Application, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

Global LED Lighting Market By Product, By Application, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

  • May 2021
  • 280 pages
  • ID: 6075908
  • Format: PDF
  • KBV Research

Summary

Table of Contents

Search Inside

The Global LED Lighting Market size is expected to reach $115.6 billion by 2027, rising at a market growth of 11.6% CAGR during the forecast period. A light-emitting diode (LED) refers to a semiconductor device that releases light when an electric current is sent through it. When the particles having current join together within the semiconductor material, light is generated.

The color of light is dependent on the energy needed for the electron to cross the band gap of the semiconductor. Colors such as red, green, yellow, blue, purple, white, bi-color, tri-color, and infrared can be produced by an LED. LEDs are generally installed in indoor lighting, outdoor lighting, and as a backlight source in LCD display. Presently, LEDs are among the most effective lighting sources available and would become the first technology in the next few years. Moreover, LED provides a long lifespan, durability, energy efficiency, design flexibility, economic efficiency, zero UV emissions, and low-voltage operation, etc.

COVID 19 Impact

Ventures around the globe and business capacities were severely affected by the global COVID-19 pandemic. Lockdown restrictions have negatively affected the companies, hence leading to a lower workforce and restricted companies to practice social removing around the countries. The preference for indoor and open-air general lighting is reducing from the lower purchasing power of people, and financial plans require across ventures such as retail, fabricating, and various companies as they are bringing huge financial losses. The delay in development projects is another big concern for the LED lighting market. The market is expected to recover after the pandemic and achieve optimistic income growth before the end of 2021.

Product Outlook

Based on Product, the market is segmented into Luminaires and Lamps. Luminaires segment is further categorized into Downlights, Streetlights, Troffers and Others. Lamps segment is further bifurcated across A Lamps, T Lamps and Others. The LED lamps segment would showcase maximum CAGR in the forecast period. This is credited to the increasing adoption of LED lamps in developing countries. These LED lamps offer many benefits as compared to incandescent lamps as LED lamps are more robust, energy-efficient, and right temporal stability. Furthermore, they are also available in various designs such as reflectors, A-lamps, T-lamps, and MR-16 lamps.

Application Outlook

Based on Application, the market is segmented into Indoor and Outdoor. In 2020, the LED lighting market was dominated by the indoor segment as it obtained the maximum revenue share. The segment would showcase a similar trend even during the forecast period owing to increased adoption of these products as a replacement for fluorescent, incandescent lamps, and High-Intensity Discharge (HID). Over the past few years, the use of LED lights in retail stores, offices, malls, hospitals, and education buildings has exponentially increased.

End User Outlook

Based on End User, the market is segmented into Commercial, Residential, Industrial and Others. In 2020, the commercial garnered the highest revenue share of the LED lighting market. The main driving factor for this segment is the increasing demand for LED troffers and downlights. Commercial end-use such as in museums, galleries, and other exhibition lighting applications use high-end lights like projectors, reflectors, and downlights. High brightness LED lights would witness higher demand in the industrial lighting segment.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific emerged as the dominating region of the market by procuring the highest revenue share in 2020. It will hold the leading position in the market over the forecast period. Japan, Taiwan, and China are important contributors to the growth of the regional market. The government of these countries is taking initiatives to promote the adoption of light-emitting diodes; also, there is the presence of a large number of market players in these regions. China, Indonesia, India, Vietnam, and Malaysia are the fastest developing countries in the Asia Pacific.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Acuity Brands Lighting, Inc., Signify N.V., and Hubbell, Inc. are the major forerunner in the LED Lighting Market. Companies such as Dialight PLC, LSI Industries, Inc., and Nichia Corporation are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dialight PLC, LSI Industries, Inc., Zumtobel Group AG, Heliospectra AB, Nichia Corporation, Seoul Semiconductor Co., Ltd., Lumileds Holding B.V., Signify N.V., Hubbell, Inc., and Acuity Brands Lighting, Inc.

Recent strategies deployed in LED Lighting Market

Partnerships, Collaborations, and Agreements:

Apr-2021: Heliospectra got a new order from G&M Family Farm in Freshwater, NL, Canada. MITRA by Heliospectra is the horticulture market’s first modular LED light. It is developed by Growers for Growers, MITRA is a perfect solution for high light crops, boosting in high-intensity light output and electrical efficiency of up to 2.8 µmol/J.

Mar-2021: Signify partnered with National Hockey League. Under this partnership, Signify became the preferred lighting partner for NHL arenas and possibly thousands of rinks in North America. In addition, Signify aims to lead to all sorts of lighting projects that include glare-resistant ice illumination, Internet of Things (IoT) systems, atmosphere, and ultraviolet C-band (UV-C) disinfection.

Jan-2021: Dialight entered into an agreement with TTI, a leading distributor of electronic components. Under this agreement, TTI became an authorized distributor of Dialight LED board and panel mount indication products.

Dec-2020: LSI Industries came into partnership with USA Pickleball, the national governing body for the sport of Pickleball in America. Under this partnership, LSI would serve the rapidly growing Pickleball market with its high-performance lighting solutions for sports and recreation facilities.

Nov-2020: Nichia came into an agreement with GE Current, a Daintree company. In this agreement, Nichia would become the first to license TriGain technology from GE Current. TriGain, a potassium fluorosilicate (PFS) phosphor is revolutionary in phosphor technology, which enhances the color rendering for LEDs via its distinct red emission, without sacrificing efficiency.

Jul-2020: Seoul Semiconductor collaborated with Fiberli. Under this collaboration, Seoul’s SunLike Series natural spectrum LEDs have been adopted for horticulture LED lighting. The SunLike Series natural spectrum LEDs are the world’s first LEDs to emit light, which closely matches the spectrum of natural sunlight

Feb-2020: Signify came into partnership with ScaleAQ, an international company within aquaculture. Together, the companies aim to enhance fish farming. ScaleAQ would resell LED lighting products from Signify’s Philips Aquaculture group with a major focus on marine-based / sea cage products.

Acquisition and Mergers:

Mar-2020: Signify acquired Cooper Lighting Solutions from Eaton. This acquisition aimed to strengthen Signify’s market position and improve the position of the company to capture growth in the North American lighting market.

Sep-2019: Acuity Brands Lighting, a subsidiary of Acuity Brands acquired The Luminaires Group, a leading provider of specification-grade luminaires for commercial, institutional, hospitality, and municipal markets. The acquisition aimed to strengthen the portfolio of Acuity Brands.

Jun-2019: Acuity Brands took over WhiteOptics, a DE-based manufacturer of advanced optical components. The acquisition aimed to support the market trends toward lower glare LED solutions, which also fulfill the stringent energy needs.

May-2018: Acuity Brands completed the acquisition of IOTA Engineering, a Tucson, AZ-based manufacturer of highly engineered emergency lighting products and power equipment for commercial and institutional applications. This acquisition focused on supporting the expansive smart building and lighting solutions strategy of Acuity.

Product Launches and Product Expansions:

Apr-2021: Heliospectra launched helioCORE 2.0. It is a newly upgraded state-of-the-art plant science software to leading commercial growers & research institutions across the globe.

Mar-2021: Lumileds introduced its new LED human-centric lighting solution, LUXEON SkyBlue. It is developed in a partnership with BIOS Lighting, under which Lumileds has developed a circadian lighting solution, which provides superior melanotic ratios at comfortable CCTs – 3000K, 3500K, and 4000K with industry-leading efficiency and uniformity at the low solution cost. The latest solution included LUXEON SkyBlue and white LUXEON 3030 HE Plus LEDs avoids the challenging technical and spectral analysis and engineering and allows a single-channel driver to complement circadian lighting.

Feb-2021: LSI Industries unveiled its new Advantage Series High Bay (AHB) luminaire. This light-industrial LED fixture is developed mainly for applications like warehouses, distribution centers, and automotive repair shops.

Jan-2021: Nichia introduced a new LED, the NF2W585AR-P8. It refers to a dual-purpose LED aimed to generate quality white light and fight bacterial pathogens. The LED is built on a robust 405-nm pump in the violet region and Nichia phosphor technology, which provides a uniform spectral power distribution (SPD) across the bulk of the human visual range.

Aug-2020: Hubbell Lighting released the SpectraSafe video security application. This application focused on deploying onto linear LED luminaires across a facility like retail, care facilities, office space, banks, and others to supplant legacy video security systems. This building block of the solid-state lighting (SSL)-a centric platform is a camera/sensor module focused on the integration into luminaires.

May-2020: Dialight introduced the latest upgrades to the Vigilant and SafeSite Area Light. The latest Universal Mounting Adapter (UMA) is sold as an accessory that enables the greatest stock flexibility ever delivered to distributors by Dialight for oil and gas, mining, manufacturing, petrochemical, and heavy industrial applications.

Feb-2020: LSI Industries introduced two latest, high-quality, commercial-grade area lighting solutions. The company’s latest SSA and SMA luminaires are quick-ship products, which provide improved features & benefits for smaller-budget projects. Both of these modern, durable, attractive fixtures are developed for applications that do not need the highly advanced optics and performance associated with LSI’s premium portfolio of Mirada area lights.

Scope of the Study

Market Segments covered in the Report:

By Product

• Luminaires

o Downlights

o Streetlights

o Troffers

o Others

• Lamps

o A Lamps

o T Lamps

o Others

By Application

• Indoor

• Outdoor

By End User

• Commercial

• Residential

• Industrial

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Dialight PLC

• LSI Industries, Inc.

• Zumtobel Group AG

• Heliospectra AB

• Nichia Corporation

• Seoul Semiconductor Co., Ltd.

• Lumileds Holding B.V.

• Signify N.V.

• Hubbell, Inc.

• Acuity Brands Lighting, Inc.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on