The global LED lighting market is expected to be valued at USD 92.40 Billion by 2022 and is expected to witness a shipment of 14.01 Billion units by 2022, at a CAGR of 13.66% and 21.23%, respectively, between 2016 and 2022. The increasing consumer demand for energy-efficient lighting systems, reduction in prices of LEDs, and high penetration of LEDs as a light source in the general lighting market are expected to drive the growth of this market. The base year considered for this report is 2015, and the market size forecast is provided for the period between 2016 and 2022.
This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg, Factiva, and OneSource) to identify and collect information useful for this study. The research methodology followed in this report is explained below.
After arriving at the overall market size, the total market has been split into several segments and subsegments and confirmed with the key industry experts. The figure below shows the breakdown of primaries on the basis of company type, designation, and region.
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The LED lighting ecosystem comprises hardware component manufacturers, prototype designers, and original equipment manufacturers (OEMs) such as Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Cree, Inc. (U.S.), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (U.K.), Zumtobel Group AG (Austria), Samsung (South Korea), and Sharp Corporation (Japan).
Report Metric |
Details |
Base year |
2015 |
Forecast period |
2016-2022 |
Units |
Value (USD) |
Segments covered |
Type, End User, Offerings, and Region |
Geographic regions covered |
North America, APAC, Europe, and RoW |
Companies covered |
Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Cree, Inc. (U.S.), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight plc (U.K.), Zumtobel Group AG (Austria), Samsung (South Korea), and Sharp Corporation (Japan). |
Target Audience:
The market in this report has been segmented as follows:
Market, by End-Use Application:
Market, by Product Type:
Market, by Geography:
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report.
Geographic Analysis
Company Information
The global LED lighting market is expected to exhibit a good growth potential till 2022. The global market is expected to be valued at USD 92.40 Billion by 2022 and is expected to witness a shipment of 14.01 Billion units by 2022, at a CAGR of 13.66% and 21.23%, respectively, between 2016 and 2022. The increasing consumer demand for energy-efficient lighting systems, reduction in prices of LEDs, and increasing penetration of LEDs as a light source in the general lighting market are expected to drive the growth of this market.
In the market by end-use application, indoor lighting is expected to have a higher growth rate than outdoor lighting. The reason for the large market size and high growth rate of indoor lighting is increasing infrastructural activities across the world, mainly focused on residential lighting.
In the market by installation type, retrofit installation is expected to experience the highest growth. Increasing replacement of incandescent lamps with energy-efficient light sources such as LED lamps is the major factor contributing to the growth of the market for retrofit installation. The old generation lamps are being slowly phased out and the fixtures are being retrofitted with LED lamps as they offer a longer working life and also consume less energy.
In the market by product type, the lamps segment is expected to be the dominant market within the market. The lamps subsegment is expected to be the dominant market as it is the major light source and main component of an LED lighting system.
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Asia-Pacific held the largest share of the LED lighting market in 2015, while the market in Europe is expected to be the second largest by 2022. Europe has a population that has a relatively high standard of living. The people in this region have the required financial means to invest in smart homes which are fitted with several innovative LED lights The high growth of the market in APAC can be attributed to the ongoing infrastructure modernization projects in the developing economies such as China and India, where the governments have approved the construction of several smart cities.
Lack of awareness regarding installation costs and payback periods and development of alternative technologies are the major restraints for the growth of this market. The major players in the market are Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Cree, Inc. (U.S.), and Cooper Industries, Inc. (Ireland), among others. These players adopted various strategies such as new product developments, partnerships, collaborations, and business expansions to boost their revenue in the LED lighting market.
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Data From Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Share of Application By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Share of Application By Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 31)
4.1 Attractive Opportunities in the Global LED Lighting Market
4.2 LED Lighting Market, By Installation Type
4.3 Market, By End-Use Application
4.4 LED Lighting System Market, By Product Type
4.5 LED Lighting Market, By Geography
5 LED Lighting Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Evolution
5.3 Market Segmentation
5.3.1 By Installation Type
5.3.2 By Product Type
5.3.3 By End-Use Application
5.3.4 By Geography
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 High Demand for LED Lighting Driven By the Modernization and Development of Infrastructure Such as Smart Cities
5.4.1.2 Need for Energy-Efficient Lighting Systems
5.4.1.3 Reduction in Prices of LEDs
5.4.1.4 Penetration of LEDs as A Light Source in General Lighting
5.4.2 Restraints
5.4.2.1 Lack of Awareness Regarding Installation Costs and Payback Periods
5.4.2.2 Development of Alternative Technologies
5.4.3 Opportunities
5.4.3.1 Development of Wireless Technology for LED Lighting Systems
5.4.3.2 Systems/Solutions Market in Future
5.4.4 Challenges
5.4.4.1 Lack of Common Open Standards
6 Industry Trends (Page No. - 44)
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Development
6.2.2 LED Lighting Original Equipment Manufacturers
6.2.3 Key Technology Providers/System Integrators
6.2.4 Distributors/Marketers
6.3 Key Industry Trends
6.4 Porters Five Forces Analysis
6.4.1 Bargaining Power of Suppliers
6.4.2 Bargaining Power of Buyers
6.4.3 Threat of New Entrants
6.4.4 Threat of Substitutes
6.4.5 Competitive Rivalry
7 LED Lighting Market, By Installation Type (Page No. - 54)
7.1 Introduction
7.2 New Installation
7.3 Retrofit
7.3.1 A-Lamps
7.3.2 T-Lamps
7.3.3 Reflectors
7.3.3.1 Multifaceted Reflector (MR) Lamps
7.3.4 Other Lamps
8 LED Lighting Market, By End-Use Application (Page No. - 63)
8.1 Introduction
8.1.1 Indoor Lighting
8.1.1.1 Residential
8.1.1.1.1 Increasing Standard of Living
8.1.1.2 Commercial
8.1.1.2.1 Office Lighting
8.1.1.2.2 Retail Malls
8.1.1.2.3 Hospitality
8.1.1.3 Industrial
8.1.1.3.1 Safety of Workers in Industrial Areas
8.1.1.4 Others
8.1.1.4.1 Government and Public Buildings
8.1.2 Outdoor Lighting
8.1.2.1 Highway and Roadway
8.1.2.1.1 Different Lighting Controls for Different Types of Roads, Bridges, and Tunnels
8.1.2.2 Architectural
8.1.2.3 Public Places
8.1.2.4 Others
9 LED Lighting Market, By Product Type (Page No. - 83)
9.1 Introduction
9.2 Lamps
9.3 Luminaires
10 Geographic Analysis (Page No. - 88)
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.1.1 Building Codes Expected to Boost the Adoption of New Technologies in Light Switches
10.2.2 Canada
10.2.2.1 Growing Adoption of LED Lighting Systems
10.3 Europe
10.3.1 U.K.
10.3.1.1 Demand for Energy-Saving and Long-Lasting Lighting Systems Driving the Market in the U.K.
10.3.2 Germany
10.3.2.1 High Demand for Smart Homes Driving the LED Lighting Market in Germany
10.3.3 France
10.3.3.1 Growing Awareness Toward Energy Conservation
10.3.4 Italy
10.3.4.1 High Demand From the Rebounding Construction Sector
10.3.5 Rest of Europe
10.3.5.1 Increasing Investments to Fuel the Growth of This Market in the Future
10.3.5.2 Spain
10.3.5.2.1 Government Regulations for Reducing Emissions Driving the Adoption of Intelligent Lighting
10.4 Asia-Pacific
10.4.1 China
10.4.1.1 Increasing Government Expenditure on Public Infrastructure
10.4.2 Japan
10.4.2.1 Focus on Energy Management Solutions
10.4.3 Rest of APAC
10.4.3.1 Australia and Indonesia are Emerging Markets With Significant Potential
10.4.3.2 India: Strong Economic Outlook Expected to Propel the Growth
10.4.3.3 South Korea: Energy Efficiency Labels & Standards Program Expected to Boost Growth of LED Lighting Systems
10.5 Rest of the World (RoW)
10.5.1.1 Focus on Real Estate & Urbanization
11 Competitive Landscape (Page No. - 107)
11.1 Introduction
11.2 Ranking of Market Players, 2015
11.3 Competitive Situations and Trends
11.3.1 New Product Launches, Expansions, and Patents
11.3.2 Alliances, Business Expansions, and Contracts
12 Company Profiles (Page No. - 112)
12.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
12.2 Philips Lighting Holding B.V.
12.3 General Electric Company
12.4 Osram Licht AG
12.5 Cree, Inc.
12.6 Cooper Industries, Inc.
12.7 Virtual Extension
12.8 Dialight PLC
12.9 Zumtobel Group AG
12.10 Samsung
12.11 Sharp Corporation
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 141)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (74 Tables)
Table 1 LED Lightings Market, By Installation Type
Table 2 LED Lightings Market, By Product Type
Table 3 LED Lightings Market, By End-Use Application
Table 4 LED Lightings Market, By Installation Type, 20132022 (USD Million)
Table 5 LED Lightings Market, By Installation Type, 20132022 (Million Units)
Table 6 LED Lightings Market for New Installation, By Product Type, 20132022 (USD Million)
Table 7 Market for New Installation, By Product Type, 20132022 (Million Units)
Table 8 New Installation LED Lightings Market for Indoor Lighting, By Type, 20132022 (USD Million)
Table 9 New Installation LED Lightings Market for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 10 Market for New Installation, By Region, 20132022 (USD Million)
Table 11 LED Lightings Market for Retrofit Installation, By Product Type, 20132022 (USD Million)
Table 12 Market for Retrofit Installation, By Product Type, 20132022 (Million Units)
Table 13 Retrofit Installation Market for Indoor Lighting, By Type, 20132022 (USD Million)
Table 14 Retrofit Installation Market for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 15 LED Lightings Market for Retrofit Installation, By Region, 20132022 (USD Million)
Table 16 LED Lightings Market, By End-Use Application, 20132022 (USD Million)
Table 17 Market, By End-Use Application, 20132022 (Million Units)
Table 18 Market for Indoor Lighting Application, By Type, 20132022 (USD Million)
Table 19 Market for Indoor Lighting Application, By Type, 20132022 (Million Units)
Table 20 Market for Indoor Lighting Application, By Region, 20132022 (USD Million)
Table 21 LED Lightings Market for Indoor Lighting Application, By Region, 20132022 (Million Units)
Table 22 Market for Residential Indoor Lighting Application, By Region, 20132022 (USD Million)
Table 23 LED Lightings Market for Commercial Indoor Lighting Application, By Region, 20132022 (USD Million)
Table 24 Market for Industrial Indoor Lighting Application, By Region, 20132022 (USD Million)
Table 25 Market for Other Indoor Lighting Applications, By Region, 20132022 (USD Million)
Table 26 LED Lightings Market for Indoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 27 LED Lightings Market for Residential Indoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 28 Market for Commercial Indoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 29 LED Lightings Market for Industrial Indoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 30 LED Lightings Market for Other Indoor Lighting Applications, By Installation Type, 20132022 (USD Million)
Table 31 Market for Outdoor Lighting Application, By Type, 20132022 (USD Million)
Table 32 Market for Outdoor Lighting Application, By Type, 20132022 (Million Units)
Table 33 LED Lightings Market for Outdoor Lighting Application, By Region, 20132022 (USD Million)
Table 34 Market for Outdoor Lighting Application, By Region, 20132022 (Million Units)
Table 35 Market for Highway and Roadway Outdoor Lighting Application, By Region, 20132022 (USD Million)
Table 36 Market for Architectural Outdoor Lighting Application, By Region, 20132022 (USD Million)
Table 37 LED Lightings Market for Public Places Outdoor Lighting Application, By Region, 20132022 (USD Million)
Table 38 Market for Other Outdoor Lighting Applications, By Region, 20132022 (USD Million)
Table 39 Market for Outdoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 40 LED Lightings Market for Highway and Roadway Outdoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 41 LED Lightings Market for Architectural Outdoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 42 Market for Public Places Outdoor Lighting Application, By Installation Type, 20132022 (USD Million)
Table 43 Market for Other Outdoor Lighting Applications, By Installation Type, 20132022 (USD Million)
Table 44 Market, By Product Type, 20132022 (USD Million)
Table 45 LED Lighting Market, By Product Type, 20132022 (Million Units)
Table 46 Market for Lamps, By Installation Type, 20132022 (USD Million)
Table 47 Market for Lamps, By Installation Type, 20132022 (Million Units)
Table 48 Market for Luminaires, By Installation Type, 20132022 (USD Million)
Table 49 LED Lighting Market for Luminaires, By Installation Type, 20132022 (Million Units)
Table 50 Market, By Region, 20132022 (USD Million)
Table 51 Market, By Region, 20132022 (Million Units)
Table 52 Market in North America, By End-Use Application, 20132022 (USD Million)
Table 53 Market in North America for Indoor Lighting, By Type, 20132022 (USD Million)
Table 54 Market in North America for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 55 Market in North America, By Installation Type, 20132022 (USD Million)
Table 56 Market in North America, By Country, 20132022 (USD Million)
Table 57 Market of Europe, By End-Use Application, 20132022 (USD Million)
Table 58 Market in Europe for Indoor Lighting, By Type, 20132022 (USD Million)
Table 59 Market in Europe for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 60 Market in Europe, By Installation Type, 20132022 (USD Million)
Table 61 Market in Europe, By Country, 20132022 (USD Million)
Table 62 Market in Asia-Pacific, By End-Use Application, 20132022 (USD Million)
Table 63 Market in Asia-Pacific for Indoor Lighting, By Type, 20132022 (USD Million)
Table 64 Market in Asia-Pacific for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 65 Market in Asia-Pacific, By Installation Type, 20132022 (USD Million)
Table 66 LED Lighting Market in Asia-Pacific, By Country,20132022 (USD Million)
Table 67 Market in RoW, By End-Use Application, 20132022 (USD Million)
Table 68 Market in Asia-Pacific for Indoor Lighting, By Type, 20132022 (USD Million)
Table 69 Market in RoW for Outdoor Lighting, By Type, 20132022 (USD Million)
Table 70 Market in RoW, By Installation Type, 20132022 (USD Million)
Table 71 Market in RoW, By Region, 20132022 (USD Million)
Table 72 Ranking of the Top 5 Players in the Market, 2015
Table 73 New Product Launches, Expansions, and Patents in the Market, 20152016
Table 74 Alliances, Business Expansions, and Contracts in the Market, 2016
List of Figures (63 Figures)
Figure 1 Market Segmentation
Figure 2 Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Global Market (Value and Volume), 20162022
Figure 7 Indoor Lighting Application Expected to Hold A Larger Size of the LED Lighting Market Between 2016 and 2022
Figure 8 New Installation Expected to Hold A Larger Size of the Market During the Forecast Period
Figure 9 Lamps Expected to Hold A Larger Size of the LED Lighting Market By 2022
Figure 10 Asia-Pacific Accounted for the Largest Share of the Market in 2015
Figure 11 Market Offers Lucrative Opportunities Owing to the Rapid Rise of the New Solutions/Systems Sector
Figure 12 New Installation Expected to Hold A Large Market Share During the Forecast Period
Figure 13 Market for Indoor Lighting Expected to Exhibit High Growth During the Forecast Period
Figure 14 Market for Lamps Expected to Dominate During the Forecast Period
Figure 15 Asia-Pacific Expected to Dominate the Market During the Forecast Period in Terms of Market Revenue
Figure 16 Evolution of Light and LED Lighting
Figure 17 Market, By Geography
Figure 18 Market Dynamics: Overview
Figure 19 U.S. Annual Energy Consumption in Commercial Buildings, 2011
Figure 20 Reduction in LED Prices
Figure 21 Market: Value Chain Analysis
Figure 22 Greater Vertical IntegrationLeading Trend Among Key Market Players
Figure 23 Porters Five Forces Analysis
Figure 24 Porters Five Forces: Impact Analysis
Figure 25 Bargaining Power of Suppliers in the LED Lighting Market, 2015
Figure 26 Bargaining Power of Buyers in the Market, 2015
Figure 27 Threat of New Entrants in the LED Lighting Market, 2015
Figure 28 Threat of Substitutes in the Market, 2015
Figure 29 Competitive Rivalry in the LEMarket, 2015
Figure 30 Market, By Installation Type
Figure 31 Market for New Installation, By Product Type (Million Units)
Figure 32 Luminaires for Retrofit Installation, in the Market is Expected to Dominate During the Forecast Period
Figure 33 Market for Retrofit Installation Will Be Dominated By APAC During the Forecast Period
Figure 34 Market, By End-Use Application
Figure 35 Residential Indoor Lighting Estimated to Lead the Market During the Forecast Period
Figure 36 APAC Will Dominate the Residential Indoor Lighting Market During the Forecast Period
Figure 37 Market for New Installation in the Commercial Indoor Lighting to Lead During the Forecast Period
Figure 38 Highway & Roadway Outdoor Lighting is Expected to Experience the Highest Growth Rate During the Forecast Period
Figure 39 New Installation Will Lead the Market for Outdoor Lighting During the Forecast Period
Figure 40 Market, By Product Type
Figure 41 New Installation are Expected to Lead the LED Lighting Market for Lamps
Figure 42 Geographic Snapshot of the Market
Figure 43 Snapshot of the Market in North America
Figure 44 Snapshot of the Market in Europe
Figure 45 Snapshot of the Market in APAC
Figure 46 Companies Adopted New Product Launches as the Key Growth Strategy Between 2014 and 2016
Figure 47 Market Evaluation Framework: Contracts, Agreements, Partnerships, and Alliances Fueled Growth and Innovation Between 2014 and 2016
Figure 48 Battle for Market Share: New Product Launches and Product Developments Were the Key Strategies Adopted Between 2015 and 2016
Figure 49 Geographic Revenue Mix of the Major Players in the LED Lighting Market, 2015
Figure 50 Philips Lighting Holding B.V.: Company Snapshot
Figure 51 Philips Lighting Holding B.V.: SWOT Analysis
Figure 52 General Electric Company: Company Snapshot
Figure 53 General Electric Company: SWOT Analysis
Figure 54 Osram Licht AG: Company Snapshot
Figure 55 Osram Licht AG: SWOT Analysis
Figure 56 Cree, Inc.: Company Snapshot
Figure 57 Cree, Inc.: SWOT Analysis
Figure 58 Cooper Industries, Inc.: Company Snapshot
Figure 59 Cooper Industries, Inc.: SWOT Analysis
Figure 60 Dialight PLC: Company Snapshot
Figure 61 Zumtobel Group AG: Company Snapshot
Figure 62 Samsung: Company Snapshot
Figure 63 Sharp Corporation: Company Snapshot
Benchmarking the rapid strategy shifts of the Top 100 companies in the LED Lighting Market
Request For Special Pricing
Growth opportunities and latent adjacency in LED Lighting Market
Being in lighting field since more than 48 years interested to get more information which can help me in my role as consultant to lighting industry. Please let me know what all new trends, applications, technologies have been included in this report?
I would like to know the total LED lighting market sector in South Africa. If possible in Rand value as well as percentage. Looking forward to your quick response.
We are a LED manufacturer based in Egypt, need to know how to compete with the Chinese companies in terms of pricing and exporting our products to other countries?
I am interested in Europre LED lighting market and want to understand, what is the current market size in Italy, France, Germany and UK in the European Market? What is the penetration of LED in the overall lighting in these countries?
What product types make up the total lighting retrofit market by percentage (i.e. linear fixtures, downlighting, high bay, low bay, etc). Please elaborate.
I am doing my final thesis of the masters in LED lighitng. I am interested in this report, what would the best price for this? Thank you very much in advance.
Would like to understand the market potential for LED lighting in rural parts of India? Do you have such information qualitative or quantitative?
I am looking to do business as a LED Lighting distributor. This is a completely new venture for me and I will love to receive more insight on what I need to do to becoming a distributor/marketer of this product. I look forward to receiving your response. Thanks.
Hi. I am writing a story for the media on railroad industry adoption of LED lighting. I am hoping to ask an industry analyst a question and use the quote for my story, which will be placed with targeted news media. Should only take a few minutes, but can really use an expert. Thank you.
We are the manufacturer of LED lights, we are looking for the information on LED panel lights, LED downlights, LED track lights, LED linear lights, and LED Strips. Do you have any specific study on this?
I am interested to know how is the competition among the system integrators within LED lighting industry? Does the report include market stategies adopted by major players within the ecosystem to get competitive edge in the market?
I provide financing solutions for all types of energy efficiency projects, with a focus on LED lighting retrofits. Please let me know how I may be benefitted out of this report?
What would the pricing for all quantitative tables related to Asia Pacific regions and top company profiles in this region?
I am looking for the potential of LED Lighting across different indoor and outdoor applications. Does the report provide this information across prominent countries in all the regions?
My specific interest id LED Lighting Market by Installation Type (New Installation and Retrofit Installation) in North America and Asia Pacific. Do you provide quantitative analysis for these 2 regions only?
Our interest is in the international LED High Bay market and the adoption of smart technologies such as sensors.