Global Industrial and Commercial Light-Emitting Diode (LED) Lighting Market, By Product (LED Lamps and LED Fixture), Application (Indoor Lightning and Outdoor Lightning), End User (Industrial and Commercial) – Industry Trends and Forecast to 2031.
Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Analysis and Size
In healthcare facilities, industrial and commercial light-emitting diode (LED) lighting is used to ensure optimal lighting conditions that are crucial for patient care and medical procedures. These LED systems provide bright, consistent, and flicker-free illumination, which is essential in operating rooms, examination rooms, and patient wards. They also support circadian rhythms, contributing to patient recovery and staff well-being. In addition, LED lighting in healthcare settings offers significant energy savings and reduced maintenance costs, enabling hospitals and clinics to allocate resources more efficiently while maintaining a high standard of care.
The global industrial and commercial light-emitting diode (LED) lighting market size was valued at USD 52.06 Billion in 2023 and is projected to reach USD 228.35 Billion by 2031, with a CAGR of 20.30% during the forecast period of 2024 to 2031.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (LED Lamps and LED Fixture), Application (Indoor Lightning and Outdoor Lightning), End User (Industrial and Commercial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Saudi Arabia, U.A.E, South Africa, Egypt, and Israel.
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Market Players Covered
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Zumtobel Group (Austria), Eaton (Ireland), Dialight. (U.K.), Advanced Lighting Technologies, LLC (U.S.), AIXTRON (Germany), OSRAM SYLVANIA Inc (U.S.), TOYODA GOSEI Co., Ltd. (Japan), Digital Lumens, Inc. (U.S.), Emerson Electric Co. (U.S.), Signify Holding. (Netherlands), GENERAL ELECTRIC (U.S.), Schneider Electric (France), ACUITY BRANDS LIGHTING, INC. (U.S.), Hubbell (U.S.), U.S.hio America, Inc. (U.S.), Litetronics International, Inc. (U.S.), Cree Lighting. (U.S.), LG INNOTEK. (South Korea), and Leviton Manufacturing Co., Inc. (U.S.)
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Market Opportunities
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Market Definition
Industrial and commercial light-emitting diode (LED) lighting refers to energy-efficient lighting solutions designed for use in large-scale environments such as factories, warehouses, offices, and retail spaces. These LED lights provide superior illumination, longer lifespan, and lower maintenance costs compared to traditional lighting systems.
Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Dynamics
Drivers
- High Demand for Energy Efficiency
LED lighting systems use significantly less electricity compared to traditional incandescent, halogen, or fluorescent lights, resulting in substantial cost savings on energy bills for businesses and industrial facilities. This reduction in energy consumption lowers operational expenses and helps organizations meet sustainability goals and reduce their carbon footprint. The high energy efficiency of LEDs contributes to their growing adoption in sectors such as retail, manufacturing, and office spaces, where lighting is a critical component of daily operations. In addition, the energy efficiency of LEDs aligns with global initiatives and regulations aimed at reducing energy consumption and promoting green technologies.
- Growing Technological Advancements SiC Power Semiconductors
Innovations in LED technology have led to improvements in brightness, color rendering, and energy efficiency, making LEDs more attractive for a wide range of applications. Smart lighting controls, such as dimming capabilities, motion sensors, and connectivity with building management systems, enhance the functionality and convenience of LED systems. In addition, advancements in materials and manufacturing processes have resulted in more durable and reliable LED products with longer lifespans. These technological improvements continually expand the potential uses of LED lighting, driving market growth and adoption across various industries.
Opportunities
- Growing Demand for LED Lighting in Retail Outlets
LED lights offer several benefits for retailers, including enhanced visibility, color accuracy, and the ability to create dynamic and engaging lighting displays. These attributes attract customers and enhance their shopping experience which leads to increased sales and customer satisfaction. Additionally, LED lighting's energy efficiency and long lifespan result in cost savings for retailers, making it an attractive investment. As retailers increasingly prioritize energy conservation and aesthetics in their stores, the demand for LED lighting solutions continues to grow, driving the expansion of the commercial LED lighting market.
For instance, in May 2022, Mich.EarthTronics launched its Color & Wattage Selectable LED Strip Series, catering to the growing demand for LED lighting in retail outlets. This innovation aligns with the drivers of the Industrial and Commercial Light-Emitting Diode (LED) Lighting market, offering retailers energy-efficient lighting solutions that enhance visibility and ambiance while reducing operational costs. The customizable features of the LED Strip Series address retailers' need for adaptable lighting options to create engaging environments that drive customer engagement and sales.
- Increasing Government Regulations
Many countries have implemented regulations that phase out inefficient lighting technologies such as incandescent bulbs and promote the adoption of LED lighting. These regulations often include energy efficiency targets, labeling requirements, and minimum performance standards for lighting products. Additionally, governments may offer incentives such as tax credits, subsidies, or rebates to encourage businesses to invest in LED lighting solutions, further stimulating market growth. Overall, government regulations create a conducive environment for the widespread adoption of LED lighting, fostering market expansion and contributing to energy conservation efforts.
Restraints/Challenges
- High Initial Costs
While LED lighting systems offer long-term savings in energy consumption and maintenance, the initial investment may pose a significant challenge for businesses, especially for small and medium-sized enterprises (SMEs) operating on constrained budgets. This initial cost barrier may deter some potential customers from transitioning to LED lighting solutions, especially when compared to the relatively lower upfront costs of traditional lighting technologies.
- Complexity of Integrating Smart Systems
Smart LED solutions offer advanced features such as remote control, scheduling, and sensor integration, their installation and configuration can be intricate and time-consuming. Businesses may face challenges in understanding and implementing these systems, requiring specialized expertise and resources. Compatibility issues with existing infrastructure or other smart devices can further complicate deployment. The complexity of smart systems may deter some businesses from investing in LED lighting upgrades, especially those with limited technical capabilities or resources to manage and maintain these sophisticated solutions.
This market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In October 2021, GE Current, a Daintree company, signed an agreement to acquire Hubbell Incorporated's commercial and industrial lighting business, aiming to create a leading end-to-end lighting solutions company. This merger will leverage their combined product and control portfolios to capitalize on growth opportunities in LED conversion and integrated light control systems
- In July 2021, U.S. LED Ltd. launched the L-Grid Edge Xtreme XL Select, an advanced LED flat panel with selectable color temperature and wattage options. Designed for retail and office environments, these panels enhance visual comfort and simplify installation processes
- In July 2021, OSRAM Sylvania Inc. launched the OTiDALI 300-watt industrial LED driver, offering an extended service life of up to 100,000 operating hours. This product features a wide output current range (250 to 1550 mA) and provides continuous monitoring of energy consumption and maintenance costs, helping to identify savings opportunities
Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Scope
The market is segmented on the basis of product, application, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- LED Lamps
- LED Fixture
Application
- Indoor Lightning
- Outdoor Lightning
End User
- Industrial
- Commercial
Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, product, application, and end user as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Brazil, Argentina, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Saudi Arabia, U.A.E, South Africa, Egypt, and Israel.
North America is expected to dominate the market due to its strong base of dedicated suppliers and increasing demand for signage in the retail industry. These factors drive growth as suppliers meet the rising need for energy-efficient lighting solutions in various commercial applications. The region's robust infrastructure and innovation in LED technology also contribute significantly to its market leadership.
Asia-Pacific is expected to experience substantial growth due to increasing awareness of the advantages of digital signage. This growth is driven by the technology's ability to enhance customer engagement, provide dynamic advertising solutions, and improve overall communication efficiency. The expanding adoption of digital signage in various sectors, such as retail, education, and transportation, is further fueling this trend.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial and Commercial Light-Emitting Diode (LED) Lighting Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are
- Zumtobel Group (Austria)
- Eaton (Ireland)
- Dialight (U.K.)
- Advanced Lighting Technologies, LLC (U.S.)
- AIXTRON (Germany)
- OSRAM SYLVANIA Inc (U.S.)
- TOYODA GOSEI Co., Ltd. (Japan)
- Digital Lumens, Inc. (U.S.)
- Emerson Electric Co. (U.S.)
- Signify Holding. (Netherlands)
- GENERAL ELECTRIC (U.S.)
- Schneider Electric (France)
- ACUITY BRANDS LIGHTING, INC. (U.S.)
- Hubbell (U.S.)
- Ushio America, Inc. (U.S.)
- Litetronics International, Inc. (U.S.)
- Cree Lighting. (U.S.)
- LG INNOTEK. (South Korea)
- Leviton Manufacturing Co., Inc. (U.S.)
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