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LED Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

LED Lighting Market Outlook 2022-2027:

The global LED lighting market reached a value of US$ 68.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 121.2 Billion by 2027, exhibiting at a CAGR of 10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A light-emitting diode (LED) refers to a semiconductor device which generates non-coherent and narrow-spectrum light when electric current passes through it. In comparison with conventional lights, LED lights are environment-friendly in nature and save around 90% of the overall energy. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output, minimum radiation emission and less power consumption. Owing to this, LED lights are now rapidly replacing incandescent and fluorescent lights across the globe. 

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Global LED Lighting Market Drivers:

  • As LED lights contain zero toxic elements and are eco-friendly in nature, their demand is being influenced by initiatives and policies by the governments of several countries introduced for environmental protection and energy conservation.
  • Currently, the price of electricity in several developing countries is rising due to the growing demand-supply gap. On account of this, consumers are shifting towards energy-efficient lighting sources such as LED lights.
  • LED lights are now widely being used in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics and street lighting, which is providing a boost to the growth of the market.
  • In order to widen their consumer-base, manufacturers are not only coming up with different LED lighting products, but are also investing in marketing through newspapers, televisions, etc. This is increasing product awareness among the consumers which, in turn, is strengthening the growth of the market.


Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global LED lighting market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.

Breakup by Application:

 

 
 

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  • Retrofit
  • Retail and Hospitality
  • Outdoor
  • Offices
  • Architectural
  • Homes
  • Industrial
     

Based on applications, the market is segregated as retrofit, retail and hospitality, outdoor, offices, architectural, homes, and industrial. Amongst these, retrofit represents the largest application area owing to the growing awareness about the advantages offered by LED lights.

Regional Insights:

  • India
  • China
  • Europe
  • Japan
  • Brazil
  • Russia
  • United States
     

On a geographical front, China enjoys the leading position in the market, accounting for the dominant share.

Competitive Landscape:

The market is concentrated in nature with the presence of few manufacturers who are competing against one another in terms of prices and quality. Some of these players include:

  • Nichia
  • Osram
  • Samsung Electronics
  • Everlight Electronics
  • LG Innotek
     

This report provides a deep insight into the global LED lighting industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a LED lighting manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED lighting industry in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion, Billion Units
Segment Coverage Application, Region
Region Covered India, China, Europe, Japan, Brazil, Russia, United States
Companies Covered Nichia, Osram, Samsung Electronics, Everlight Electronics, LG Innotek
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4    Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Lighting Market
    5.1    Market Overview
    5.2    Market Performance
        5.2.1     Volume Trends
        5.2.2     Value Trends
    5.3    Market Breakup by Region
    5.4    Market Breakup by Application
    5.5    Market Breakup by Technology
    5.6    Market Forecast
6   Global LED Lighting Market
    6.1    Market Overview
    6.2    Market Performance
        6.2.1     Volume Trends
        6.2.2     Value Trends
    6.3    Impact of COVID-19
    6.4    Price Trends
    6.5    Market Breakup by Region
    6.6    Market by Product Type
        6.6.1     LED Lamps and Modules: Market Trends
        6.6.2     LED Fixtures: Market Trends
        6.6.3     Market Forecast
    6.7    Market Breakup by Application
    6.8    Market Forecast
    6.9    SWOT Analysis
        6.9.1     Overview
        6.9.2     Strengths
        6.9.3     Weaknesses
        6.9.4     Opportunities
        6.9.5     Threats
    6.10    Value Chain Analysis
        6.10.1     Primary Raw Materials Suppliers
        6.10.2     LED Chip Manufacturers
        6.10.3     LED Package and Module Manufacturers
        6.10.4     Lighting Products, Electronic Products and Automotive Part Manufacturers
        6.10.5     Product Distribution
        6.10.6     End Users
    6.11     Porter’s Five Forces Analysis
        6.11.1    Overview
        6.11.2    Bargaining Power of Buyers
        6.11.3    Bargaining Power of Suppliers
        6.11.4    Degree of Competition
        6.11.5    Threat of New Entrants
        6.11.6    Threat of Substitutes
    6.12     Key Market Drivers and Success Factors
    6.13     Key Risk Factors for LED Manufacturers
    6.14     Comparison of LED’s with Conventional Lighting Technologies
7   Performance of Key Regions
    7.1    India
        7.1.1      India Lighting Market
            7.1.1.1    Market Performance
            7.1.1.2    Market Breakup by Application
            7.1.1.3    Market Breakup by Technology
            7.1.1.4    Market Forecast
        7.1.2      India LED Lighting Market
            7.1.2.1    Market Performance
            7.1.2.2    Market Forecast
            7.1.2.3    Key Players
    7.2    China
        7.2.1      China Lighting Market
            7.2.1.1    Market Performance
            7.2.1.2    Market Breakup by Application
            7.2.1.3    Market Breakup by Technology
            7.2.1.4    Market Forecast
        7.2.2      China LED Lighting Market
            7.2.2.1    Market Performance
            7.2.2.2    Market Forecast
            7.2.2.3    Key Players
    7.3    Europe
        7.3.1      Europe Lighting Market
            7.3.1.1    Market Performance
            7.3.1.2    Market Breakup by Application
            7.3.1.3    Market Breakup by Technology
            7.3.1.4    Market Forecast
        7.3.2      Europe LED Lighting Market
            7.3.2.1    Market Performance
            7.3.2.2    Market Forecast
            7.3.2.3    Key Players
    7.4    United States
        7.4.1      United States Lighting Market
            7.4.1.1    Market Performance
            7.4.1.2    Market Breakup by Application
            7.4.1.3    Market Breakup by Technology
            7.4.1.4    Market Forecast
        7.4.2      United States LED Lighting Market
            7.4.2.1    Market Performance
            7.4.2.2    Market Forecast
            7.4.2.3    Key Players
    7.5    Japan
        7.5.1      Japan Lighting Market
            7.5.1.1    Market Performance
            7.5.1.2    Market Breakup by Application
            7.5.1.3    Market Breakup by Technology
            7.5.1.4    Market Forecast
        7.5.2      Japan LED Lighting Market
            7.5.2.1    Market Performance
            7.5.2.2    Market Forecast
            7.5.2.3    Key Players
    7.6    Brazil
        7.6.1      Brazil Lighting Market
            7.6.1.1    Market Performance
            7.6.1.2    Market Breakup by Application
            7.6.1.3    Market Breakup by Technology
            7.6.1.4    Market Forecast
        7.6.2      Brazil LED Lighting Market
            7.6.2.1    Market Performance
            7.6.2.2    Market Forecast
            7.6.2.3    Key Players
    7.7    Russia
        7.7.1      Russia Lighting Market
            7.7.1.1    Market Performance
            7.7.1.2    Market Breakup by Application
            7.7.1.3    Market Breakup by Technology
            7.7.1.4    Market Forecast
        7.7.2      Russia LED Lighting Market
            7.7.2.1    Market Performance
            7.7.2.2    Market Forecast
            7.7.2.3    Key Players
8   Market by Application
    8.1    Retrofit
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Retail and Hospitality
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Outdoor
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Offices
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Architectural
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Homes
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Industrial
        8.7.1 Market Trends
        8.7.2 Market Forecast
9   Competitive Landscape
    9.1    Market Structure
    9.2    Market Breakup by Key Players
10  LED (SMD) Manufacturing Process
    10.1    Product Overview
    10.2    Detailed Process Flow
    10.3    Various Types of Unit Operations Involved
    10.4    Mass Balance and Raw Material Requirements
11  Project Details, Requirements and Costs Involved
    11.1    Land Requirements and Expenditures
    11.2    Construction Requirements and Expenditures
    11.3    Plant Layout
    11.4    Plant Machinery
    11.5    Machinery Pictures
    11.6    Raw Material Requirements and Expenditures
    11.7    Raw Material and Final Product Pictures
    11.8    Packaging Requirements and Expenditures
    11.9    Transportation Requirements and Expenditures
    11.10    Utility Requirements and Expenditures
    11.11    Manpower Requirements and Expenditures
    11.12    Other Capital Investments
12  Loans and Financial Assistance
13  Project Economics

    13.1    Capital Cost of the Project
    13.2    Techno-Economic Parameters
    13.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    13.4    Income Projections
    13.5    Expenditure Projections
    13.6    Taxation and Depreciation
    13.7    Financial Analysis
    13.8    Profit Analysis
14  Key Player Profiles
    14.1    Nichia
    14.2    Osram
    14.3    Samsung Electronics
    14.4    Everlight Electronics
    14.5    LG Innotek

List of Figures

Figure 1: Global LED Industry: Major Drivers and Challenges
Figure 2: Global: Lighting Market: Sales Volume (in Billion Units), 2016-2021
Figure 3: Global: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 4: Global: Lighting Market: Breakup by Region (in %), 2021
Figure 5: Global: Lighting Market: Breakup by Application (in %), 2021
Figure 6: Global: Lighting Market: Breakup by Technology (in %), 2021
Figure 7: Global: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 8: Global: Lighting Market Forecast: Sales Volume (in Billion Units), 2022-2027
Figure 9: Global: LED Lighting Market: Sales Volume (in Billion Units), 2016-2021
Figure 10: Global: LED Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 11: China: LED Lighting Market: Price Trends (in US$/Unit), 2016-2027
Figure 12: Global: LED Lighting Market: Breakup by Region (in %), 2021
Figure 13: Global: LED Lamps and Modules Market: Sales Volume (in Million Units), 2016-2021
Figure 14: Global: LED Fixtures Market: Sales Volume (in Million Units), 2016-2021
Figure 15: Global: LED Lamps and Modules Market Forecast: Sales Volume (in Million Units), 2022-2027
Figure 16: Global: LED Fixtures Market Forecast: Sales Volume (in Million Units), 2022-2027
Figure 17: Global: LED Lighting Market: Breakup by Application (in %), 2021
Figure 18: Global: LED Lighting Market Forecast: Sales Volume (in Billion Units), 2022-2027
Figure 19: Global: LED Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 20: Global: LED Lighting Industry: SWOT Analysis
Figure 21: Global: LED Lighting Industry: Value Chain Analysis
Figure 22: Global: LED Lighting Industry: Porter’s Five Forces Analysis
Figure 23: India: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 24: India: Lighting Market: Breakup by Application (in %), 2021
Figure 25: India: Lighting Market: Breakup by Technology* (in %), 2021
Figure 26: India: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 27: India: LED Lighting Market: Sales Value (in Million US$), 2016-2021
Figure 28: India: LED Lighting Market: Sales Volume (in Million Units), 2016-2021
Figure 29: India: LED Lighting Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: India: LED Lighting Market Forecast: Sales Volume (in Million Units), 2022-2027
Figure 31: India: LED Market: Key Players Market Share (in %), 2021
Figure 32: China: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 33: China: Lighting Market: Breakup by Application (in %), 2021
Figure 34: China: Lighting Market: Breakup by Technology (in %), 2021
Figure 35: China: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 36: China: LED Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 37: China: LED Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 38: China: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 39: Europe: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 40: Europe: Lighting Market: Breakup by Application (in %), 2021
Figure 41: Europe: Lighting Market: Breakup by Technology (in %), 2021
Figure 42: Europe: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 43: Europe: LED Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 44: Europe: LED Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 45: Europe: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 46: United States: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 47: United States: Lighting Market: Breakup by Application (in %), 2021
Figure 48: United States: Lighting Market: Breakup by Technology (in %), 2021
Figure 49: United States: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 50: United States: LED Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 51: United States: LED Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 52: United States: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 53: Japan: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 54: Japan: Lighting Market: Breakup by Application (in %), 2021
Figure 55: Japan: Lighting Market: Breakup by Technology (in %), 2021
Figure 56: Japan: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 57: Japan: LED Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 58: Japan: LED Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 59: Japan: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 60: Brazil: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 61: Brazil: Lighting Market: Breakup by Application (in %), 2021
Figure 62: Brazil: Lighting Market: Breakup by Technology (in %), 2021
Figure 63: Brazil: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 64: Brazil: LED Lighting Market: Sales Value (in Million US$), 2016-2021
Figure 65: Brazil: LED Lighting Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 67: Russia: Lighting Market: Sales Value (in Billion US$), 2016-2021
Figure 68: Russia: Lighting Market: Breakup by Application (in %), 2021
Figure 69: Russia: Lighting Market: Breakup by Technology (in %), 2021
Figure 70: Russia: Lighting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 71: Russia: LED Lighting Market: Sales Value (in Million US$), 2016-2021
Figure 72: Russia: LED Lighting Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Russia: LED Lighting Market: Key Players Market Share (in %), 2021
Figure 74: Global: LED Lighting Market: Retrofit (in Million US$), 2016 & 2021
Figure 75: Global: LED Lighting Market Forecast: Retrofit (in Million US$), 2022-2027
Figure 76: Global: LED Lighting Market: Retail and Hospitality (in Million US$), 2016 & 2021
Figure 77: Global: LED Lighting Market Forecast: Retail and Hospitality (in Million US$), 2022-2027
Figure 78: Global: LED Lighting Market: Outdoor (in Million US$), 2016 & 2021
Figure 79: Global: LED Lighting Market Forecast: Outdoor Million US$), 2022-2027
Figure 80: Global: LED Lighting Market: Offices (in Million US$), 2016 & 2021
Figure 81: Global: LED Lighting Market Forecast: Offices (in Million US$), 2022-2027
Figure 82: Global: LED Lighting Market: Architectural (in Million US$), 2016 & 2021
Figure 83: Global: LED Lighting Market Forecast: Architectural (in Million US$), 2022-2027
Figure 84: Global: LED Lighting Market: Homes (in Million US$), 2016 & 2021
Figure 85: Global: LED Lighting Market Forecast: Homes (in Million US$), 2022-2027
Figure 86: Global: LED Lighting Market: Industrial (in Million US$), 2016 & 2021
Figure 87: Global: LED Lighting Market Forecast: Industrial (in Million US$), 2022-2027
Figure 88: Global: LED Market: Breakup of Key Players (in %), 2021
Figure 89: SMD LED Manufacturing Plant: Detailed Process Flow
Figure 90: SMD LED Manufacturing Plant: Various Unit Operations Involved
Figure 91: SMD LED Manufacturing Process: Conversion Rate of Products
Figure 92: SMD LED Manufacturing Plant: Raw Material Requirements (in grams or units /Day)
Figure 93: SMD LED Manufacturing Plant: Proposed Plant Layout
Figure 94: SMD LED Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 95: SMD LED Industry: Margins Across Various Stages of the Supply Chain
Figure 96: SMD LED Production: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: Global: Lighting Industry Overview
Table 2: Global: LED Lighting Market Overview
Table 3: Comparison of LED’s with Incandescent Bulb and Compact Fluorescent Lamps (Based on Energy Efficiency and Environmental Impact)
Table 4: Comparison of LED’s with Incandescent Bulb and Compact Fluorescent Lamps (Based on Luminous Flux)
Table 5: Global: LED Lighting Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: LED Lighting Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: LED Lighting Market: Competitive Structure
Table 8: SMD LED: Various Types and Their Dimensions
Table 9: SMD LED Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 10: SMD LED Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 11: SMD LED Manufacturing Plant: Machinery Costs (in US$)
Table 12: SMD LED Manufacturing Plant: Raw Material Requirements (in g/Day) and Expenditures (US$/Unit)
Table 13: SMD LED Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 14: SMD LED Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 15: Details of Financial Assistance Offered by Financial Institutions
Table 16: SMD LED Manufacturing Plant: Capital Costs (in US$)
Table 17: SMD LED Manufacturing Plant: Techno-Economic Parameters
Table 18: SMD LED Manufacturing Plant: Income Projections (in US$)
Table 19: SMD LED Manufacturing Plant: Expenditure Projections (in US$)
Table 20: SMD LED Manufacturing Plant: Taxation (in US$)
Table 21: SMD LED Manufacturing Plant: Depreciation (in US$)
Table 22: SMD LED Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 23: SMD LED Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 24: SMD LED Manufacturing Plant: Profit and Loss Account (in US$)

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Key Questions Answered in This Report

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
market.

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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