How Is Global Led Lighting Market Positioned?
Overview: Global
LED lighting market has witnessed a rapid growth over the recent past.
The
market is currently at the growth stage and the growth is attributed to the
increase in government interventions along with boom in construction industry
in various regions.
The
LED penetration in the global world has reached to ~% in 2019 from ~% in 2014.
It has successfully penetrated the commercial sector and the usage is
increasing in the residential and industrial sector.
Connected
lighting systems are anticipated to emerge as one of the most critical
components of the smart city infrastructure by contributing largely to the
sustainability goals of the projects which will drive the growth of LEDs.
Market: The global
LED lighting market witnessed a growth of CAGR ~% during 2014-2020
in terms of value. The market is witnessing strong growth owing to declining
prices from $~ in 2014 to $~ in 2019.
Engagement
by the governments of developed economies (UK & US) and emerging economies
(India & China) in the promotion of LED lighting products by providing the
tax incentives and subsidies for these product along with rapid enhancement in
technology and decreasing ASP are playing a significant role in the growth of
the market. Smart buildings will accelerate the adoption of smart lighting more
than any other segment.
Global LED
Lighting Market Segmentation
By Type: Luminaires
dominate the global LED lighting market, contributing a share of ~% to the
total revenues in 2020P followed by Lamps that held a share of ~%. The
availability of wide product variants has added to the increased revenues from
luminaires.
By Type of LED Luminaires: The
increasing use of LED Troffers for both residential and commercial purposes has
made this segment dominate the luminaires market with a revenue share of ~% in
2020P followed by Downlights and Highbay with ~% and ~% respectively.
By Type of LED Lamps: The LED A-
lamps segment is dominating the market with a revenue share of ~% in the year
2020P; however, the LED tubes segment is expected to grow at a high CAGR in the
forecasted period.
By Sector: Residential
lighting segment has witnessed high growth due to the adoption of LED A-type
lamps but commercial application continues to lead the market applications.
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.
By Distribution Channel: The rising
demand for advanced lamps such as MR-16 lamps and reflector lamps, especially
in retail applications such as small stores, retail shops, and malls, is
expected to help the segment retain dominance; however, they are now losing
share to direct sales (project-based solutions).
By Region: Asia-
Pacific region to witness fastest growth rate and is strengthening its position
due to strong economic growth driven mainly by China. It is followed by North
America and Europe.
Asia-Pacific:
Asia-Pacific dominated the market by contributing revenue share of ~% in 2020P.
China plays a significant role in this region due to its large economic size
& strong growth and contributed around ~% of 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. 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 ~% in 2020P. Rising trend of
connected lighting controls for indoor and outdoor applications has been a
major growth factor.
Europe:
Europe contributed ~% of the revenue share with
Germany capturing the highest market share of ~% in 2020P. Rising
implementation of advanced lighting system across residential and commercial
sector is expected to drive growth
Latin
America:
Latin America contributed ~% revenue share of 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 ~% revenue
share of LED Lighting market in the global world. Development of smart
buildings and smart cities, is fuelling LED growth. Huge investments (~$1,580
bn for the year 2019-2023F) 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.
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
For More Information on the research report, refer to below
link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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