Led Lighting Market Size Is Expected to Reach $108.99 Billion by 2025: Grand View Research, Inc.

Posted on 2019-04-03 by researchinsights in Electronics // 0 Comments

San Francisco, United States, 2019-April-03 — /EPR Network/ —

The global LED lighting market size is expected to reach USD 108.99 billion by 2025, according to a new report by Grand View Research, Inc., and will register a CAGR of 14.4% during the forecast period. Continuous development of energy-saving capabilities, introduction of Standard Deviation Color Matching (SDCM) control, and longer lifespan compared to CFL lamps have accelerated demand for LED lamps at a global level. Introduction of smart/connected lighting and its multiple uses in residential, commercial, and industrial sectors has also spurred market growth.

Next-generation lighting has become a substitute for incandescent bulbs due to its benefits such as higher efficiency, low cost of operation, and reduced heat losses. Technological advancements, shift from conventional to green lighting, enhanced energy efficiency standards, and declining prices have also spurred demand. Moreover, strict regulatory policies across U.S., European Union, China, and Canada regarding conventional lighting and energy consumption are anticipated to favor market demand over the coming years. Corresponding ratings and design standards categorizing energy efficiency are also finding prevalence across economies such as Japan and China.

The indoor LED lighting segment held the largest share in 2016 and is anticipated to register a comparatively lower growth rate from 2017 to 2025. High adoption of light emitting diodes as an alternative to florescent, HID, and incandescent lightings has paved the way for indoor lighting on a large scale.

To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/led-lighting-market

Further key findings from the report suggest:

The global LED lighting market is expected to develop at a CAGR of 14.4% from 2017 to 2025
OLED emerged as the largest product segment in 2016 and is estimated to generate revenue worth USD 58.0 billion by 2025
Global LED luminaires demand was valued at USD 10.63 billion in 2016 and is anticipated to witness staggered growth over the course of the forecast period
The U.S. LED architectural lighting market was valued at USD 0.79 billion in 2016 and is anticipated to exhibit a CAGR of nearly 15.0% over the forecast period.
The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to tremendous demand for energy-efficient lighting in residential and commercial sectors. The regional market is expected to exhibit a CAGR of 15.4% from 2017 to 2025
Key players such as Koninklijke Philips Electronics N.V.; OSRAM GmbH; Cree, Inc.; Eaton; and GE dominated the global LED lighting market, accounting for about 59.0% of the total revenue in 2016.

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Grand View Research has segmented the global LED lighting market on the basis of product, design, application, and region:

LED Lighting Product Outlook (Revenue, USD Million, 2014 – 2025)

Basic LED
High brightness LED
OLED
Others

LED Lighting Design Outlook (Revenue, USD Million, 2014 – 2025)

Lamps
- A-Lamps
- MR-16
- Reflectors
- T-Lamps
- Others
Luminaires
- Streetlights
- Downlights
- High Bays
- Troffers
- Track lights
- Suspended pendants
- Others

LED Lighting Application Outlook (Revenue, USD Million, 2014 – 2025)

Indoor
- Commercial
- Residential
- Industrial
- Others
Outdoor
- Architectural
- Public places
- Others

LED Lighting Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
- Mexico
Middle East & Africa

Access Press Release of This Research Report by Grand View Research:
www.grandviewresearch.com/press-release/global-led-lighting-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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