What are the Historical Developments and Current Growth Metrics of the Energy Efficient Lighting Market?
The energy efficient lighting market has seen considerable growth due to a variety of factors.
• In recent times, the market size for energy-efficient lighting has seen a robust growth. With projections indicating an increase from $55.27 billion in 2024 to $60.3 billion in 2025.
With a compound annual growth rate (CAGR) of 9.1%, the rise during the historic period can be ascribed to factors such as government policies, environmental consciousness, cost-effectiveness and consumer demand.
What Is The Projected Growth Of The Energy Efficient Lighting Template Market?
The energy efficient lighting market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for energy-efficient lighting is set to experience robust expansion. The market is projected to reach $80.9 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%.
Smart lighting integration, urbanization and infrastructure advancements, energy efficiency goals, developing market extensions, incentive schemes, and refunds are among the factors leading to this growth during the forecast period. Notable trends expected to emerge throughout this period include internet of things (IoT) integration, human-centric lighting solutions, the adoption of circadian lighting, the development of Li-Fi technology, and the burgeoning growth of the horticultural lighting market.
What Are The Key Drivers Fueling Growth In The Energy Efficient Lighting Market?
The anticipation of growth in the energy-efficient lighting market can be attributed to the government's energy-efficiency initiatives. These initiatives entail the execution of actions, policies, or programs intended to minimize energy use and optimize energy efficiency. The advancement of energy-efficient lighting is boosted by government initiatives that establish standards, back up research and development, and encourage cooperation across different sectors. For illustration, the UK's Department for Energy Security and Net Zero announced in March 2024 that approximately 318,600 energy efficiency measures were established via government schemes in 2023, a surge from 2022 by 49%. Hence, the energy-efficient lighting market is being propelled by government energy-efficiency initiatives.
What Are The Principal Market Segments In The Global Energy Efficient Lighting Industry?
The energy-efficient lighting market covered in this report is segmented –
1) By Type: High-Intensity Discharge Lamps (HID), Linear Fluorescent Lamps (LFL), Light Emitting Diodes (LED), Other Types
2) By Application: Residential, Commercial, Industrial, Outdoor, Other Applications
3) By End-User: Government, Healthcare, Education, Retail, Hospitality, Other End-Users
Subsegments:
1) By High-Intensity Discharge Lamps (HID): Metal Halide Lamps, High Pressure Sodium (HPS) Lamps, Low Pressure Sodium (LPS) Lamps
2) By Linear Fluorescent Lamps (LFL): T5 Fluorescent Lamps, T8 Fluorescent Lamps, T12 Fluorescent Lamps
3) By Light Emitting Diodes (LED): LED Bulbs, LED Tubes, LED Fixtures
4) By Other Types: Compact Fluorescent Lamps (CFL), Organic Light Emitting Diodes (OLED), Induction Lamps
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How Are New Trends Impacting The Size Of The Energy Efficient Lighting Market?
Leading energy-efficient lighting market players are concentrating their efforts on introducing unique products like color temperature options in cooler color temperatures of 3000K and 4000K. The term color temperature refers to the visual output of light from a source, quantified in degrees Kelvin (K). This enables the differentiation of light that appears warm (leaning towards yellow/red) or cool (leaning towards blue). For example, in November 2022, Signify, a corporation based in the Netherlands renowned for its lighting solutions, rolled out ultra-efficient lighting products designed to provide efficiency of up to 50% more in comparison to conventional LED products. Their new line of such efficient lighting solutions promises energy reductions as high as 60% when compared to traditional LEDs. Compliant with recent energy efficiency rules, these products are expected to last for around 100,000 hours. They are an optimal choice for a plethora of commercial applications, ensuring notable cost reductions and a reduced carbon footprint. Furthermore, they are marketed in a range of wattages and color temperatures, accommodating varied consumer demands.
Who Are the Key Players In The Energy Efficient Lighting Market?
Major companies operating in the energy-efficient lighting market are:
• General Electric Company
• Schneider Electric SE
• ABB Group
• Toshiba corporation
• Philips Lighting
• Eaton Corporation
• Signify N.V.
• OSRAM GmbH
• Hubbell Lighting Inc.
• Acuity Brands
• Zumtobel Group AG
• Seoul Semiconductor Co. Ltd.
• Cree Inc.
• Bajaj Electricals Ltd.
• Leviton Manufacturing Co. Inc.
• Dialight
• Lumileds Holding B.V.
• Cooper Lighting
• The Lighting Quotient
• Bridgelux Inc.
• Soraa Inc.
• Advanced Lighting Technologies Australia Inc.
• Nichia Corporation
• Savant Systems Inc.
What Are The Regional Insights Into The Energy Efficient Lighting Market?
Europe was the largest region in the energy-efficient lighting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-efficient lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
