LED Lighting Market Research Report

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2022
LED Lighting Market To Register Over 10.0 CAGR
during 20202030
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The global LED lighting market revenue stood at
55,201.9 million in 2020, and it is expected to
rise to 152,442.3 million by 2030, demonstrating
a CAGR of 10.7 from 2020 to 2030 (forecast
period). The major factors propelling the market
are the rising use of energy-efficient lighting
solutions, falling costs of LED lights, and
surging infrastructure development activities
across the world. Additionally, the soaring
investments being made by the governments of
several countries, such as the U.A.E., China,
India, Austria, Spain, and Singapore, in smart
city development projects are also driving the
market. For instance, the Indian government has
recently announced its plans to develop 100 smart
cities across the country by 2030. The government
has approved nearly 15 billion for this project.
Likewise, Barcelona (Spain) has witnessed the
deployment of 3,000 smart streetlights based on
the LED technology over the last few years. The
mushrooming use of smart LED lighting solutions
is becoming a major trend in the industry. The
popularity of these lights has soared massively
in recent years, especially in China and Japan,
because of their ability to control lighting from
anywhere and at anytime and high energy
efficiency. Request for sample copy of this
report https//www.psmarketresearch.com/market-an
alysis/led-lighting-market/report-sample   Additio
nally, their advanced features, such as motion
activation technology, adaptive lighting, and
automatic off/on, also assist in increasing the
cost savings for commercial and residential end
users by reducing electricity consumption
significantly. Depending on product type, the LED
lighting market is divided into lamp and
luminaire categories. Between these, the
luminaires category dominated the market in 2020,
due to the growing use of these systems in
industrial and commercial buildings and the
implementation of favorable government
initiatives.
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Moreover, these systems can be easily controlled
and they assist optic designers in using less
light for illuminating the same area. When
installation type is taken into consideration,
the LED lighting market is classified into
retrofit and new. Of these, the retrofit category
is predicted to exhibit faster growth throughout
the forecast period, owing to the rising
requirement for the replacement of sodium-vapor
and incandescent lamps with LEDs in several
countries, such as the U.A.E., U.S., India,
Japan, South Korea, and China. Geographically,
the LED lighting market will demonstrate the
fastest growth in the Latin American (LATAM)
region in the coming years, as per the estimates
of the market research organization, PS
Intelligence. This is attributed to the
ballooning middle-class population, rising
urbanization rate, and surging residential
construction activities in the region.
Additionally, the increasing focus on deploying
solar street lighting and smart street lighting
systems in Mexico and Brazil is predicted to fuel
the sales of outdoor LED lighting solutions in
the region in the forthcoming years. Browse
full report at https//www.psmarketresearch.com/ma
rket-analysis/led-lighting-market   Hence, it can
be said with confidence that the sales of LED
lighting systems will soar in the coming years,
mainly because of the growing requirement for
energy-efficient lighting solutions, development
of smart cities, falling costs of LED lights, and
increasing infrastructure development and
construction activities all over the world.
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Market Segmentation

• Based on Product Type
• Luminaire
• Lamp
• Based on Installation Type
• New
• Retrofit
• A-lamp
• T-lamp
• Reflector
• Based on Application
• Indoor
• Residential
• Commercial
• Industrial

• Outdoor
• Highways
• Streets
• Stadiums
• Parking lots
• Tunnels
• Geographical Analysis
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain

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• Asia-Pacific (APAC)
• Japan
• China
• India
• South Korea
• Latin America (LATAM)
• Brazil
• Mexico
• Middle East and Africa (MEA)
• South Africa
• U.A.E.
• Saudi Arabia

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