The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The global LED lighting market was valued at US$ 68.8 Billion in 2021.
We expect the global LED lighting market to exhibit a CAGR of 10% during 2022-2027.
The rising infrastructural development across the retail, industrial, and commercial sectors, coupled with
the increasing demand for energy-efficient lighting sources, is primarily driving the global LED lighting
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous manufacturing units and
disrupted supply chains for LED lighting components.
Based on the application, the global LED lighting market can be categorized into retrofit, retail and
hospitality, outdoor, offices, architectural, homes, and industrial. Among these, retrofit accounts for the
majority of the total market share.
On a regional level, the market has been classified into India, China, Europe, Japan, Brazil, Russia, and
United States, where China currently dominates the global market.
Some of the major players in the global LED lighting market include Nichia, Osram, Samsung Electronics,
Everlight Electronics, LG Innotek, etc.
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