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:-
Global LED Lighting Market
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UAE LED Lighting Market
Outlook To 2023- By LEDs Lamps (LED Reflectors, LED Tubes, Others); Luminaires
(Downlights, Troffers, Outdoor Area Lights, Roadway Fixtures, Spot Lights And
Other Luminaires), By Usage (Indoor And Outdoor), By End Users
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
