Worldwide LED Lighting Industry to 2027 - Featuring Lumileds Holding, Panasonic and Acuity Brands Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global LED Lighting Market Report and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the global LED lighting market attained a value of about USD 64,382 million in 2021. Aided by the rising environmental consciousness worldwide, the market is projected to further grow at a CAGR of 9.1% between 2022 and 2027 to attain around USD 109,661 million by 2027.

LED or light emitting diodes are semiconductor devices that emit light, when an electric current passes through it, as the light carrying particles combine together. LED lights provide an energy efficient lighting solution compared to incandescent lights, offering 25 times longer durability with use of 75% less energy. Additionally, LED lights emit light in one direction, thus, reducing the requirement of reflectors and diffusers, while also decreasing the heat produced. These lights find increased application in bulbs and fixtures for general lighting purposes and come in a variety of colours and designs.

The LED lighting industry is being driven by the growing environmental awareness worldwide. This can be associated with the rising pollution levels globally and the increased demand for energy efficient solutions. Additionally, the low operating costs and reduced heat losses are also expected to add to the overall popularity of LED lighting solutions. Moreover, the rising investment in the construction industry for the development of green building infrastructure is also anticipated to propel the demand for LED light bulbs in the forecast period.

Furthermore, the heightened product availability, improved manufacturing efficiency, and reduced cost are also estimated to aid the industry. In the coming years, the rapid technological advancements are projected to add to the market growth, with the development of safer, durable, and long lasting lighting solutions. These factors are expected to positively impact the global LED lighting industry.

Market Segmentation

The market report analyses the market based on segmentation such as product, application, end use, and major regions.

Market Breakup by Product:

• Lamps
• Luminaire

Among these, lamps can be further segmented by type into A-Lamps, T-Lamps, and others. At the same time, the luminaire segment can be further divided by type into downlight, streetlight, high bay, troffers, track lights, suspended pendants, and others.

Market Segmentation by Application:

• Indoor
• Outdoor

Market Segregation by End Use:

• Residential
• Commercial
• Industrial
• Government
• Highway and Roadway
• Architectural
• Others

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry.

Some of the major players in the market explored in the report are:

• Lumileds Holding B.V.
• Panasonic Corporation
• Acuity Brands, Inc.
• Koninklijke Philips N.V.
• Epistar Corporation
• Everlight Electronics Co., Ltd
• Nichia Corporation
• Samsung Electronics Co., Ltd.
• Seoul Semiconductor Co., Ltd.
• CreeLED, Inc.
• OSRAM Licht AG

For more information about this report visit https://www.researchandmarkets.com/r/j8zdti