What Has Been the Growth of the Industrial And Commercial LED Lighting Market So Far?
The industrial and commercial led lighting market has seen considerable growth due to a variety of factors.
• The market size of the industrial and commercial led lighting sector has seen a rapid increase in recent times. The market value is set to see an ascent from $64.36 billion in 2024 to $77.98 billion in 2025, marking a compound annual growth rate (CAGR) of 21.1%.
The substantial growth during the historic timeframe can be credited to several factors such as initiatives towards energy efficiency and sustainability, government rules and incentives, a decrease in the cost of LED production, long lifespan, low maintenance expenses, and heightened consciousness about lighting quality.
What is the Forecasted Market Size and CAGR for the Industrial And Commercial LED Lighting Market?
The industrial and commercial led lighting market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for industrial and commercial LED lighting is set to experience significant expansion in the coming years, reaching an estimated $165.32 billion by 2029. This growth represents a Compound Annual Growth Rate (CAGR) of 20.7%.
Factors such as the rise in smart city projects, integration of IoT in lighting systems, favoring human-centric lighting patterns, an overhaul of conventional lighting systems, and a demand for tailor-made solutions and design adaptability are driving this growth. The forecast period is marked by key trends such as advancements in LED lighting technology, swift adoption of intelligent lighting systems, a shift to human-focused lighting, the implementation of sophisticated lighting controls, and the integration of Li-Fi.
What Are The Primary Growth Drivers In The Industrial And Commercial LED Lighting Market?
The escalating construction of new edifices and alterations to existing properties are significantly propelling the expansion of the industrial and commercial LED lighting market. The rise in new constructions can be attributed to factors such as economic growth, housing demands, industrial advancements, and others. The existing buildings are experiencing an increase in refurbishments due to the need for replacements and safety measures as well as to enhance the current properties. These new constructions and modifications involve the usage of new materials and commodities, including LED lighting, for the structures. This is predicted to create a sizable demand for LED lighting in industrial and commercial buildings. For example, the US Census Bureau and the US Department of Housing and Urban Development's latest statistics for residential construction reveal that in February 2022, the privately-owned housing starts numbered 1,769,000, a 6.8% increase from the revised 1,657,000 estimate for January. Compared to the 1,447,000 housing starts in February 2021, there was a 22.3% increase in February 2022. Therefore, the rising construction of novel structures and modifications to existing properties will likely stimulate the growth of the industrial and commercial LED lighting market.
What are the Market Segments in the Industrial And Commercial LED Lighting Market?
The industrial and commercial LED lighting market covered in this report is segmented –
1) By Product Type: LED Lamps, LED Fixtures
2) By Installation: New Installation, Retrofit
3) By Distribution: Direct Sales, Online Stores, Specialty Stores, Other Distribution Channels
4) By Application: Retail, Manufacturing, Hospitality, Warehouses And Storage, Office Buildings, Other Applications
Subsegments:
1) By LED Lamps: A-Type LED Lamps, Flood LED Lamps, Tube LED Lamps, Specialty LED Lamps
2) By LED Fixtures: Panel LED Fixtures, High Bay LED Fixtures, Downlight LED Fixtures, Street LED Fixtures, Wall-Mounted LED Fixtures
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What Trends are Shaping the Industrial And Commercial LED Lighting Market Size?
Major firms in the commercial and industrial LED lighting sector are rolling out advanced offerings such as intelligent lighting systems to amplify energy efficiency and user command. Intelligent lighting comprises lighting systems that can be operated remotely and automated, often merged with IoT technology to modify brightness, color, and schemes according to user liking or climatic conditions. For instance, URC (Universal Remote Control), an American company that has expertise in smart home automation and command systems, released URC Lighting LT-3300 in May 2023. The URC Lighting LT-3300 is a LED lighting answer with smart lighting that gives the installer the choice of a dimmer or switch setup, and a platform to easily program, to develop exclusive ambiance for leisure or serene family gatherings. The automatic load detection function makes the installation easier by getting rid of the need to set up neutral or non-neutral wiring arrangements, making it adaptable for a range of electrical conditions. Further, the device has a rear, vibrant LED bar that delivers visual prompts for notifications and programmed triggers, boosting user involvement.
Who Are the Key Players in the Industrial And Commercial LED Lighting Market?
Major companies operating in the industrial and commercial LED lighting market include:
• Samsung Electronics Co. Ltd.
• General Electric Company
• Panasonic Corporation
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Toshiba Corporation
• Eaton Corporation plc
• Koninklijke Philips NV
• Emerson Electric Co.
• Wipro Ltd.
• Legrand S.A.
• Signify N.V.
• Osram Licht AG
• Hubbell Incorporated
• ams-OSRAM AG
• Acuity Brands Inc.
• Stanley Electric Co. Ltd.
• Havells Ltd.
• Leviton Manufacturing Company Inc.
• Zumtobel Group
• IDEAL INDUSTRIES INC.
• Lutron Electronics
• The Jaquar Group
• Syska Hennessy Group
• Dialight plc
• Digital Lumens Inc.
• Deco Lighting Inc.
• Litetronics International Inc.
• Current Lighting Solutions LLC
What are the Regional Insights into the Industrial And Commercial LED Lighting Market?
Asia-Pacific was the largest region in the industrial and commercial LED lighting market in 2024. The regions covered in the industrial and commercial LED lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
