The global LED lighting market size is projected to grow from USD 8.31 billion in 2024 to USD 15.2 billion by 2030

LED Lighting Market Summary

LED Lighting is light-emitting diode lighting, which is a general term for lighting with LED lamps. It uses solid semiconductor chips as luminescent materials, and releases excess energy through carrier recombination in the semiconductor, causing photon emission, directly emitting red, yellow, blue, and green light. On this basis, using the principle of three primary colors, By adding phosphor, you can emit light of any color. The downstream application scenarios of LED lighting are rich, including general lighting, display screens, backlight applications, automotive lighting, signal indication and other fields.

According to the new market research report "Global LED Lighting Market Report 2024-2030", published by GIResearch, the global LED lighting market size is projected to grow from USD 8.31 billion in 2024 to USD 15.2 billion by 2030, at a CAGR of 8.6% during the forecast period.

• LED Lighting

Source: GlobalInfoResearch, “Global LED Lighting Market 2024 by Company, Regions, Type and Application, Forecast to 2030”

• Global LED Lighting MarketSize(US$ Million), 2019-2030

Source: GlobalInfoResearch, “Global LED Lighting Market 2024 by Company, Regions, Type and Application, Forecast to 2030”(published in 2024). If you need the latest data, plaese contact GIResearch.

• Global LED Lighting Top12Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

Source: GlobalInfoResearch, “Global LED Lighting Market 2024 by Company, Regions, Type and Application, Forecast to 2030”(published in 2024). If you need the latest data, plaese contact GIResearch.

This report profiles key players of LED Lighting such as Osram, Signify, LG.

In 2023, the global top five LED Lighting players account for 35.7% of market share in terms of revenue. Above figure shows the key players ranked by revenue in LED Lighting.

Market Drivers:

The general lighting industry and the wall lighting industry are both decoration and decoration industries in the post-real estate cycle and are closely related to the development of real estate. As the real estate market grows, penetration increases, and product upgrades jointly promote the growth of the general lighting industry.

Product upgrade driver

1) At the policy level, relevant national departments encourage the application of energy-efficient electric light sources, supporting appliances, green and environmentally friendly gas discharge lamps and solid-state lighting products in lighting from the aspects of industrial supporting and downstream markets, effectively promoting the lighting system supporting equipment development, promoting supply-side upgrades and demand-side replacements;

2) At the technical level, in recent years, LED Lighting technology has made rapid progress around the world, overcoming the early shortcomings of low luminous efficiency, high cost of use, and single colors. In the application of mobile lighting equipment, LED Lighting has the characteristics of low energy consumption, small size, impact resistance, and long battery life. The development of LED epitaxial wafers, chips, packaging, drive circuits and related technologies in downstream application fields has driven down the price of LED light sources. At the same time, decoration and intelligence are also expected to promote further product upgrades, which will also promote the use of LEDs in civil, commercial and industrial applications. It is widely used in various fields and it is expected that the application fields will be further expanded in the future.

Opportunity:

1) In recent years, the development of the industry has also been supported by the demand for replacement of incandescent lamps, and the penetration rate of LED Lighting products has continued to increase;

2) The decorative properties of lighting products are stronger, and the demand for unit price, product upgrades and product replacements is higher.

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