Worldwide LED Lighting Industry to 2030 - Analysis and Growth Forecast

Dublin, Nov. 16, 2020 (GLOBE NEWSWIRE) -- The "LED Lighting Market Research Report: By Product Type (Luminaire, Lamp), Installation Type (New, Retrofit), Application (Indoor, Outdoor) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The adoption of energy-efficient lighting solutions has increased considerably across the globe. Light-emitting diodes (LED) have emerged as key energy-efficient lighting solutions at the present time. The demand for LEDs for different applications is growing because of their longer operational life and lower maintenance cost than conventional lighting solutions. Owing to these advantages, LEDs are extensively being deployed in stadiums, tunnels, parking lots, and streets. Furthermore, governments of various countries are taking initiatives to increase the adoption of solutions that consumer less energy, as the surging demand for energy has led to a global energy crisis.

As per a report by the publisher, the global LED lighting market is predicted to generate a revenue of $262.8 billion in 2030, rising from $67.6 billion in 2019, and is expected to exhibit a 12.9% CAGR during the forecast period (2020-2030). The two types of LED lighting solutions are lamps and luminaires, between which, the requirement for luminaires was higher in the past. These products are widely being integrated in newly constructed commercial and residential buildings. In addition, government initiatives in India and China to encourage the adoption of LED lighting are also predicted to result in the rising demand for these products during the forecast period.

LED lighting solutions can be newly installed or retrofitted, however, the demand for retrofit LEDs is expected to rise significantly in the years to come. This can be ascribed to the growing replacement of incandescent and sodium-vapor lamps with LED lights, particularly in countries including the U.A.E., India, Japan, South Korea, China, and the U.S. LED lighting solutions are utilized for both outdoor and indoor applications. In the past, these lights were utilized more for indoor applications in the past, and their demand is further going to be larger for these applications in the coming years.

This is because of the rising requirement for LED lighting for applications in the residential sector in countries such as the U.S., India, the U.A.E., and China. The construction industry in these countries is registering rapid growth and the focus on construction of smart cities has also been increasing since the past few years. LED lighting solutions are majorly being utilized in smart cities to make these projects more energy-efficient. Other than this, the demand for LED lighting solutions is also projected to rise for outdoor applications, including tunnels, highways, parking lots, streets, and stadiums, in the years to come.

This is owing to the growing government and private initiatives across the globe for high-class infrastructure development. In addition to this, the increasing construction of highways all over the world is also projected to drive the demand for LED lighting solutions. Geographically, Asia-Pacific has been making the most use of LED lighting solutions up till now, and the region is further expected to emerge as the fastest-growing LED lighting market in the years to come. This is due to the expanding construction industry and surging consumer awareness regarding energy-efficient lighting.

In conclusion, the adoption of LEDs is rising due to the increasing construction of smart cities and surging demand for energy-efficient lighting solutions.

Key Topics Covered:

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product Type
4.1.1.1 Luminaire
4.1.1.2 Lamp
4.1.2 By Installation Type
4.1.2.1 New
4.1.2.2 Retrofit
4.1.2.2.1 A-lamp
4.1.2.2.2 Reflector
4.1.2.2.3 T-lamp
4.1.2.2.4 Others
4.1.3 By Application
4.1.3.1 Indoor
4.1.3.1.1 Commercial
4.1.3.1.2 Residential
4.1.3.1.3 Industrial
4.1.3.2 Outdoor
4.1.3.2.1 Streets
4.1.3.2.2 Highways
4.1.3.2.3 Stadiums
4.1.3.2.4 Parking lots
4.1.3.2.5 Tunnels
4.1.3.2.6 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing popularity of smart LED lighting solutions
4.3.2 Drivers
4.3.2.1 Growing adoption of energy-efficient lighting solutions
4.3.2.2 Declining prices of LEDs
4.3.2.3 Increasing development of infrastructure
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Development of alternative technologies
4.3.3.2 Lack of awareness regarding the installation cost and payback period of LEDs
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Advent of sensor-based LED lighting
4.4 Impact of COVID-19
4.4.1 Assessment of COVID-19 Impact on GDP of Various Economies
4.4.2 GDP Growth Rate (2019)
4.4.3 GDP Growth Rate (2020)
4.4.4 GDP Growth Rate Projection for 2021
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast
5.1 By Product Type
5.2 By Installation Type
5.2.1 Retrofit LED Lighting Market, by Type
5.3 By Application
5.3.1 Indoor LED Lighting Market, by Type
5.3.2 Outdoor LED Lighting Market, by Type
5.4 By Region

Chapter 6. North America Market Size and Forecast
6.1 By Product Type
6.2 By Installation Type
6.2.1 Retrofit LED Lighting Market, by Type
6.3 By Application
6.3.1 Indoor LED Lighting Market, by Type
6.3.2 Outdoor LED Lighting Market, by Type
6.4 By Country

Chapter 7. Europe Market Size and Forecast
7.1 By Product Type
7.2 By Installation Type
7.2.1 Retrofit LED Lighting Market, by Type
7.3 By Application
7.3.1 Indoor LED Lighting Market, by Type
7.3.2 Outdoor LED Lighting Market, by Type
7.4 By Country

Chapter 8. APAC Market Size and Forecast
8.1 By Product Type
8.2 By Installation Type
8.2.1 Retrofit LED Lighting Market, by Type
8.3 By Application
8.3.1 Indoor LED Lighting Market, by Type
8.3.2 Outdoor LED Lighting Market, by Type
8.4 By Country

Chapter 9. LATAM Market Size and Forecast
9.1 By Product Type
9.2 By Installation Type
9.2.1 Retrofit LED Lighting Market, by Type
9.3 By Application
9.3.1 Indoor LED Lighting Market, by Type
9.3.2 Outdoor LED Lighting Market, by Type
9.4 By Country

Chapter 10. MEA Market Size and Forecast
10.1 By Product Type
10.2 By Installation Type
10.2.1 Retrofit LED Lighting Market, by Type
10.3 By Application
10.3.1 Indoor LED Lighting Market, by Type
10.3.2 Outdoor LED Lighting Market, by Type
10.4 By Country

Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Comparison of Key Players
11.4 Strategic Developments in the Market
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches

Chapter 12. Company Profiles
12.1 Signify N.V.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 General Electric Company
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 Key Financial Summary
12.3 OSRAM Licht AG
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.3.3 Key Financial Summary
12.4 Acuity Brands Inc.
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Key Financial Summary
12.5 Zumtobel Group AG
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.5.3 Key Financial Summary
12.6 Samsung Electronics Co. Ltd.
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.6.3 Key Financial Summary
12.7 Hubbell Incorporated
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 Key Financial Summary
12.8 Cree Inc.
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 Syska LED Lights Private Limited
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.10 Wipro Enterprises (P) Ltd.
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary

Chapter 13. Appendix
13.1 Abbreviations
13.2 Sources and References
13.3 Related Reports

For more information about this report visit https://www.researchandmarkets.com/r/175n5t

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900